PRECIOUS METAL: The precious metal is shining so brightly on Thursday after Fed keep rates steady at 2.50%. The price of the yellow metal broke above 1,350 levels and touched one year high. At the time of writing, US Gold futures trading at 1385.95 or 2.65% high from previous close of 1348.80. In MCX, the yellow metal is likely to open on positive followed by global cues.
TOP COMMODITY SPREADS:::
NATURAL GAS: 0.30
MCX Gold-Silver Ratio: 88.52
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.