Precious Metals are trading slightly lower today on account of profit booking since morning and we expect prices to move higher later towards the evening with Gold setting its sight on $1610-$1620 and Silver aiming for resistance at $27.50. Base Metals are also in red since morning and may move higher today, Copper faces resistance at $7800 on LME. Energy prices are trading in a narrow range today, Crude Oil should remain in the current range today and we maintain a neutral bias while Natural Gas is in a broad range of Rs.150-$162.50 breaking above/below which we may see movement in that direction. The rupee has depreciated by 11 paise or 0.22% against the dollar at the time of writing this, a weaker rupee will support upsides in prices today.
Key Data to watch : US Retail Sales and Core Retail Sales MoM and Business Inventories
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