Commodity Corner by Manisha Gupta guides you through the most important trades in commodities, takes a first-hand look at how these markets are moving and what is at stake for investors.
Crude oil prices continue to trade on a higher note. It is up nearly 7.5 percent for this week. It is also trading at 2014 highs. In the Indian markets, it is almost 1 percentage point of gain on the higher side, very close to the Rs 4,400 per barrel mark. In the international market as well it has made fresh 2018 highs.
Gold and silver is trading at multi-week highs. Gold is trading at 11 week high, although it is not able to hold around those levels and there is some profit taking seen. The Indian gold prices are trading at the highest points of 2018.
Base metals continue to remain volatile. Aluminium is still up 11 percent. However, there has been a slight decline today on back of cues from Shanghai.
Check out commodity trading ideas from Grovalue.
Sell aluminium at Rs 147 with a stop loss of Rs 150 and target of Rs 142.
Buy copper at Rs 445 with a stop loss of Rs 442 and target of Rs 451.
Sell lead at Rs 155 with a stop loss of Rs 157.50 and target of Rs 151.