PRECIOUS METAL::: The yellow metal is steady on Tuesday after optimistic deal between US and Mexico about tariffs on Mexico goods left market players restless. At the time of writing, U.S. gold futures is trading above 0.21% at $1,332.95 an ounce. In MCX, bullions are likely to open on softer tone on stronger equities, weak demand in local jewellery due to absence of festivals. Overall sentiment for gold is still bullish with the resistance of 33000 and 33100 levels and support would be 32900 and 32800 levels.
TOP COMMODITY SPREADS:::
NATURAL GAS: 0.90
MCX Gold-Silver Ratio: 88.19
The ratio suggest silver is undervalued as compared to the gold , going forward more upside can be seen in the silver as relative to the gold.