Base Metal Tips – Copper Prices: Net longs in the industrial metal grew slightly as funds marginally cut back on their short positions by 1%. However, copper could be starting to top out as investors refrain from taking up fresh longs.
Gold Price Today: Yellow Metal Down, Geopolitical Factors; Buy on dips – Don’t Sell
Gold Silver prices witness very high volatility on Monday. Gold prices tested $1584 per troy ounce to hit a near 7-year high, and silver prices test $18.50 per troy ounce in the international market.
MCX Gold Tips Today – Above 40680 Target 41260—41530, Sell Karna Mana Hai
In global markets, gold prices today surged 1.5% to $1,579.55 per ounce, the highest level in about six years. The gains extended Friday’s surge after a US air strike in Iraq killed top Iranian commander Qassem Soleimani. The killing has heightened concerns of a widening Middle East conflict.
Rocket Attack in Baghdad, Syria Gas Field Shelled After Soleimani Killing
Syrian regime forces and Iranian militias fired three shells at the Conoco gas field in the Deir Ezzor area of eastern Syria and two rockets were fired at the Green Zone where the US embassy is located on Sunday evening in the aftermath of the US airstrike that killed IRGC Quds Force commander Qasem Soleimani, according to Arab reports.No casualties were reported in the Conoco attack, according to local news source Deir Ezzor 24.
Rockets Target Baghdad’s Green Area for Second Successive Night
Six Katyusha rockets fell in Baghdad, including three inside the capital’s heavily fortified Green Area housing government buildings and foreign missions, the Iraqi military said.