Currently, silver open interest is below its 2014 lows and near to 2009 lows.
Investors can buy on decline around Rs 46,100 or on breakout above Rs 47,330 in gold.
Russia has reportedly agreed to slash output by 2 Mbpd, while Saudi Arabia will cut 4 mbpd.
In fairness, the deal is grand in its scope, given the size of the cuts and their duration.
Analysts warn darkly that plunging prices may threaten global economic stability.
Saudi Arabia pumping 12.3 mbpd would result in oil prices collapsing to $15 level.
Multiple rating agencies and outfits have already cut India's growth rate.
One investor gets good returns from the stock while another sees a loss on the same.
Sentiment soured after Franklin Templeton shut six debt funds in April.
For banks, the extension of moratorium by another three months has two sides.
'Banks won’t be blamed as we are going to take the loss’
Investment flows to equity funds slowed down in April amid the Covid-induced lockdown.
‘Airlines need relief on airport charges, navigation charges and taxes to manage the cost structu
Data showed promoters of at least 24 companies raised stakes during the past two quarters.
‘We are going to see very divergent or selective consumption patterns for the next few quarters’
The precious metal has been in demand, benefitting from safety-related demand since the last four-five months.
Saudi Arabia is now audaciously seeking a global deal to cut oil production.
Should history repeat itself, the current spike in the market would quickly wilt.
Oil left in the ground now is at risk of never being produced at all.
Oil markets are faced with a triple and not double whammy--Texas, Russia and OPEC.
Investors should look at the history of 2008 crash where the same situation was playing out.
This is not the first time that Saudi Arabia has cast smaller Opec producers to the wolves.
As the shale industry tries to pick up the pieces after the Saudi-Russia war for market share hammered crude, some of those same producers are reliving the same costly mistake.
The oil market is now faced with two highly uncertain bearish shocks with the clear outcome of a sharp price sell-off.
OPEC+ is having a hard time responding to a black swan that threatens a repeat of the global financial crisis.
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