Precious metals prices are trading a tad lower on MCX today. We do not expect any major fall in prices of bullions on account of accommodative monetary policy by the Fed and higher reserves by Russia. Buying at dips is recommended for the day.
Industrial/Base metals prices are trading lower on international bourses today. In the evening session we have the new home sales data to be released by the US. Any negative data reported is likely to further weigh on the prices of metals. Selling on rise is recommended for the day.
Crude oil prices are trading higher on international bourses today. We expect oil prices to give up its gains on account of higher inventory expectations at major US ports. Selling on rise is expected for the day.
