PRECIOUS METAL:: The COMEX Gold prices are disappointing on Monday against strong dollar as US retail sales oomph up traders. The US retail trade rose 0.5% in May 2019, from an upwardly revised 0.3% growth in April. However, market is focusing now to the U.S. Federal Reserve meeting on Tuesday and Wednesday. At the time of writing, U.S. gold futures is above 0.3% to $1,344.85 an ounce. In MCX, bullions are likely to open on positive note followed by global sentiments and deemed demand in local jewellery market could recorded excellent gains in near trading sessions.
TOP COMMODITY SPREADS:::
NATURAL GAS: 1.90
MCX Gold-Silver Ratio: 88.82
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.