Precious metal gold touched a record high on Friday while the US dollar dipped giving jitters to investors. Other commodities like oil and copper also rose on sliding dollar. Here are the experts’ top picks for today in the commodity space. Kishore Narne of Anand Rathi Commodities said that one can look to buy base metals, which have not fallen yet. “Buy copper above Rs 406 per kg for the coming month and look for targets close to Rs 412 per kg with stop loss below Rs 400 per kg on MCX,” advised Narne. Ashok Mittal of MD Vertex expects the base metals complex to perform well and hence, he recommends buying copper. “On MCX futures contract, we recommend buying copper near Rs 403 per kg keeping a stop loss of Rs 398 and on the higher side we expect target to be between Rs 410-412 per kg,” added Mittal. Rajini Panicker, head of commodities at MF Global Commodities India advises to sell MCX August zinc at levels of Rs 120-101.20 per kg with a price target of Rs 97 per kg and then Rs 95 per kg. He feels the stop for this trade should be placed at Rs 103.20 per kg levels. Kunal Shah of Nirmal Bang Commodities said, “The expectation of slowdown in the US and Europe should be negative for base metal complex. Go short in copper at Rs 406 per kg with a stop loss at Rs 411 per kg.” He is expecting copper prices to drift lower and test Rs 392 and 387 per kg. “Silver is catching up with the rise in gold prices. So instead of gold, I will recommend to go long in silver at 65900 with a stop loss of 65000 and expect prices to test 67200-67300 in coming weeks,” added Shah.

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