COMMODITIES: Comex Gold trading higher by 1%, Silver trading flat

MUMBAI, 2 MARCH: In terms of market action, Gold prices have given up significant gains after opening higher in the international markets. Comex Gold prices are trading higher by 1% whereas, Silver prices are trading flat. Oil prices have also given up gains after the OPEC on Sunday tired to stabilize the impact of the Iranian strikes with a larger than expected production hike. Saudi Arabia and Russia as well as several Gulf states said they had agreed a “production adjustment” of 206,000 barrels per day. Prices can come down to 67-66$/bbl if Iran agrees to further fresh round of negotiations. We expect markets to take cues from geopolitical scenarios and comments from US President Trump.

Currencies offshore

The weekend saw a dramatic escalation of geopolitical events after the US and Israel in a joint operation struck Iranian supreme leader Ayatollah Ali Khamenei’s compound. Iran later confirmed that 86-year-old leader was killed in his office in the early hours of Saturday. Meanwhile, US President Trump said that attacks against Iran will continue for the time being until all our objectives are achieved. Trump claimed that the entirety of Iran’s military command was “gone,” and that many members wanted to surrender.

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(સ્પષ્ટતા: અત્રેથી આપવામાં આવતી તમામ પ્રકારની માહિતી કોઇપણ પ્રકારે રોકાણ/ ટ્રેડીંગ માટેની સલાહ નથી. બજારોમાં રોકાણ જોખમોને આધીન છે અને રોકાણ કરતા પહેલા કૃપા કરીને તમારા સલાહકારની સલાહ લો.)