Bullions may witness some profit booking tracking weak opening in international markets. Gold can trade in range of Rs. 22,800-23,100 while silver can trade in range of Rs. 56,000-58,000 in MCX. Gold hovered below its record high on Friday.
Base metals can trade in red tracking weak opening in international markets. Today industrial production and consumer confidence data will give further direction to the base metals pack. Copper may trade in range of Rs. 428-430 while Lead can trade in range of Rs. 117-120 in near term.
Crude oil may trade sideways with negative bias. Crude oil may remain in range of 4,100-4,300 on domestic bourses.
Spot gold was hovering below the record high levels as Fed ruled out additional stimulus measures. Spot gold had hit a all time of 1594.16 the previous day. Crude oil slipped earlier today after Standard and Poor put US’ credit ratings under review.
