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Potential to earn a 60 percent interest in property located adjacent to Goldcorp's Hollinger and McIntyre mines

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Message: Gold, silver still a safe buy in this indecisive market

Commodities have been swirling as much as the Indian stock market. So what is that one strategy that can fetch you gains or at least secure them from the space? Experts answer.

Gold & Silver

Gold futures corrected sharply last week on account of the increase in margins at the Commex. "We believe that this is a buying opportunity and someone in the domestic market can buy at Rs 27,500 per 10 grams keeping a target of Rs 27,900 per 10 grams and stop loss of Rs 27,350 per 10 grams," Tarang Bhanushali, AVP of research at India Infoline said.

On silver, T Gnanasekar director of Commodity Trendz Research & Fund Management said the metal has lagged gold in this entire move. "It has got a lot of catch up to do. So any dips towards Rs 64,200-64,300 per kg levels could be an ideal level to buy silver with a possible stop of Rs 63,500 a kg and a target of Rs 67,000 a kg in the coming days," he pointed out.

While for Ashish Shah of Sushil Global Commodities, silver continues to remain positive. "Keeping this mind one can look at going long near Rs 63,000-63,500 per kg is the range. Keeping that as a stop loss one should buy for a target price of Rs 64,500/kg," he said.

Crude

N Prasad, chief executive officer of Safetrade Advisors suggests investors to buy crude oil on MCX September contract at Rs 3,900 a barrel with a stop loss at Rs 3,860/barrel for a target of Rs 4,030 per barrel. Almost in unison, Shah advises to buy oil with stop loss below Rs 3,890 a barrel keeping a target of Rs 4,000 a barrel and Rs 4,020/barrel on the higher side mainly on tension if the hurricane threats.

Copper

Prasad asks investors to buy copper November contract at Rs 419 per kg with stop loss at Rs 416 per kg for a target of Rs 426/kg. While, Shah suggests investors to look at going short in copper near Rs 418 per kg keeping a stop loss above Rs 420/kg. On the downside I expect copper to come in the range of Rs 412-414 per kg.

Link to Original Article: http://www.moneycontrol.com/news/commodities/gold-silver-stillsafe-buythis-indecisive-market_580855.html

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