PRECIOUS METAL: The precious metal is steady on Tuesday ahead FOMC meeting on hopes of cut in interest rates. Moreover, poor chinese economic data fueled fears of slowed oil prices, which tend to lower in crude oil prices in near term. At the time of writing, U.S. gold futures is unchanged at $1,344.25 an ounce. In MCX. bullions are likely to open on positive note followed by weak domestic equity market and ahead of FOMC meeting.
TOP COMMODITY SPREADS:::
NATURAL GAS: 0.90
MCX Gold-Silver Ratio: 89.22
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.