In the US, the Federal Reserve has increased interest rates by 0.25%. Also, this year, the rates are expected to increase twice more this year. In such a case, gold went to the upper level of two weeks yesterday. However, pressure from the upper level is now visible. In fact, the dollar has seen a decline. In this, gold and silver have got support in the global market. At present, gold is trading at $ 1330 on commax and silver is $ 16.50.
Meanwhile, the price of crude oil has gone upwards of last one-and-a-half month. Brent has been a bit weak after reaching $ 70 a lot. There has been an increase of about 10 percent in the last 10 days. In fact, the crude oil reserves have fallen in the US. At the same time, prices were supported by the dollar sluggish.
Recovery has come in the base metal today too. Copper at the London Metal Exchange is at a low level of 3 months and in China, it is looking at a low level of 6 months. However, the rupee has strengthened against the dollar today. The price of the dollar is 65 rupees.
Guar Seed NCDEX (April Futures): Buy - 4180, StopLoss - 4120, Goal - 4300
Soybean NCDEX (April futures): Buy - 3750, Stoplaus - 3710, Target - 3810
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