Commodity Updates- Gold Silver, Crude and Copper Trend for Today

After starting with the edge, gold and silver are now being witnessed sluggish movement.. 

Gold is trading flat on MCX and hovering around 31330 level and With a decline of 0.2 0 per cent, silver has slipped to Rs 61650 level. The trend of these precious metals is consolidated so the bullion metals are expected to trade in a narrow range.

After the initial gain seen in MCX Crude oil, price has been declined again and it is trading around 4850 level. Day traders can adopt buy on dips strategy in crude oil as prices may see a bounce back around 4840-4820 level. However trading below 4800 may invite further decline.

In Base metals, copper is trading lower with a dip of nearly 0.50% and moving around 435.50-436 level. Its support has been seen near 433 below which copper may test 430-428 level while a trade above 438 may push the prices to 442-445 level.