Himanshu Gupta, Karvy Comtrade, discusses with Nigel D’Souza the current trend in commodities markets.

Speaking about precious metals, Gupta said, “We would be looking to go short in gold in today’s session. We are expecting the non-farm payrolls to be beating the estimates and in-line gold taking a hit. So in today’s session, one can go short in June month gold contract at Rs 31,150 for target of Rs 30,800 and a stop loss above Rs 31,250 would be recommended.”

Gupta is expecting crude oil prices to come lower and is recommending going short on crude.

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