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Thursday, August 19, 2010

Crude oil trades at around USD 75.35/bbl

* CRB Index edged lower, choppy dollar largely ignored
* ended above USD 1230 an ounce on physical buying, weak dollar
* Silver & platinum were down on broader uncertainty
* oil ended lower, but trimmed losses as equities rise; it is currently trading at USD 75.35 a barrel.
* EIA report differed with API's, shows inventory loss
* mortgage applications boosted consumer demand outlook

It is Advised to:

* Buy gold MCX October contract at Rs 18,580-18,600 per 10 grams, with a target of Rs 18,750 and keep a stoploss at Rs 18,480
* Buy nickel MCX August contract at Rs 1,005-1,010 per kg, with a target of Rs Rs 1,038 and keep a stoploss at Rs 988
* Buy crude MCX August contract at Rs 3,460-3,470 per barrel, with a target of Rs 3,550 and keep a stoploss at Rs 3,420