PRECIOUS METAL:: The precious metal is steady on Thursday led by US Fed rate cut and on-going US-China is not showing any positive signs. However, the softer than expected US inflation data supported the dollar and put precious metal in range bound. At the time of writing, U.S. gold futures is trading at $1,337.85 an ounce. In MCX, bullions are likely to open on positive tone followed by strong global cues.
TOP COMMODITY SPREADS:::
NATURAL GAS: -0.30
MCX Gold-Silver Ratio: 88.83
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.