A sharp decline has been seen in commodity markets. Crude oil, gold, silver and base metals have fallen significantly. Projected demand decreases the price of crude oil in the international market and it has declined to lower levels of 4 months. Crude oil price is projected to fall to $90/ barrel . Crude oil slipped 1.5 per cent to trade near Rs 5190 on MCX.
MCX Silver and Gold prices have also suffered the decline phase. Silver is trading near its support zone of 56000-56900 which if breaches, we can expect further downfall in MCX Silver.
Traders can sell Silver for Intraday trading.
