Yellow Metal Seen Hitting Another Peak

Yellow Metal Seen Hitting Another PeakCountry's gold futures are expected to expand gains, to reach another all-time peak, accompanying a sturdy trend in abroad market regions where sovereign debt troubles in the United States and European market strengthened investor attention in gold.

On the Multi Commodity Exchange (MCX), the most-active yellow metal for June delivery closed 1.2% up at Rs 21,835 per 10 grams, after attaining an all-time peak of Rs 21,857, during the last session.

Overseas spot gold added up 0.8% to $1,493.29 per ounce, off the record high of $1,497.20 hit in the previous session.

On the other hand, Country's copper futures are expected to ease a little bit, broadening the earlier session's losses, accompanying abroad markets.

The most-active copper for this month's (April) delivery on the Multi Commodity Exchange ended 0.7% down at Rs 414.10 per kilogram during the last trading session.

Three-month London copper was ruling 0.29% down at $9,243 per tonne at 8:47 am.

Abhishek Chauhan, senior analyst with Angel Commodities said, "We suggest to go short at Rs 416-417, for a target of 410."