Precious metals (Gold and Silver) prices are trading firm on MCX today ahead of a U.S. Federal Reserve meeting where policy makers are expected to announce more stimulus measures, seen to support bullion appeal as a hedge against inflation.
Base metals prices are trading mixed on international bourses today. We expect prices to remain firm on account of positive economic data points from China, the highest consumer of
metals.
MCX Copper may note some decline tracking slight retreat in international markets, however the downside. LME Copper trades slightly lower after noting sharp gains yesterday. Support for February copper is seen at Rs.440 while resistance is seen at Rs. 452.
Crude oil prices are trading higher on MCX today. We expect prices to remain firm on account of improved demand outlook from major oil consuming nations.
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