Commodity outlook by Tradebulls Securities: Buy zinc, sell silver
Commodity outlook and trading ideas by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls.

Market news: Gold speculators has increased their bullish bets to highest since 2016. Starting from this week, the yellow metal was on the back foot due to recent supportive data of US jobs number which reduced the expectation of an aggressive rate cut from the US Fed. However, recent statement by the Fed chairman Jerome Powell boosted all precious metals and equity market. The text suggested June FOMC meeting uncertainties, world trade tension, low inflation and gloom outlook of US economy.
Market is reading his remarks as dovish on US monetary policy and interest rate of 25 basis points (bps) is expected on July 31, which prompted gold to trade higher and DXY fall. Indian rupee, too, appreciated because of the weak dollar and is trading around the support zone of 68.20-68.50. We feel rupee may stabilise around this level and there are many headwinds on the upside as good inflows along with the government’s decision to borrow from the overseas market will keep the rupee strong.
Crude oil, which since last 5 trading session was unable to...read more
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