Despite astrological prediction of the end of the world, Priti Gupta, director of Anand Rathi Commodities tells CNBC-TV18 that they are very positive going into 2012. “We believe it is a year of consolidation for commodities,” she said.
In the precious metals space, Gupta sees gold falling to USD 1230-1250 per ounce levels, but bouncing back to USD 1700 per ounce levels by the end of the year. “Look to buy into gold when it weakens,” she added. Naveen Mathur, associate director of commodities and currencies at Angel Broking also has a buy call on gold around Rs 27,300 per 10 gm. “For the day, we expect a target of Rs 27,650-27,800 levels,” he said.
Both are also bullish on crude due to supply constraints in Iran. “For the year, I see crude trading in a range between USD 90-110 per barrel,” said Gupta.
In the precious metals space, Gupta sees gold falling to USD 1230-1250 per ounce levels, but bouncing back to USD 1700 per ounce levels by the end of the year. “Look to buy into gold when it weakens,” she added. Naveen Mathur, associate director of commodities and currencies at Angel Broking also has a buy call on gold around Rs 27,300 per 10 gm. “For the day, we expect a target of Rs 27,650-27,800 levels,” he said.
Both are also bullish on crude due to supply constraints in Iran. “For the year, I see crude trading in a range between USD 90-110 per barrel,” said Gupta.
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