At 15:09 hrs MCX SILVERMIC June contract was trading at Rs 55546.00 up Rs 1090.00, or 2.00%. It touched an intraday high of Rs 55750.00 and an intraday low of Rs 54500.00. So far 95697 contracts have been traded.

At 15:09 hrs MCX SILVERMIC August contract was trading at Rs 56933.00 up Rs 1102.00, or 1.97%. It touched an intraday high of Rs 57131.00 and an intraday low of Rs 55891.00. So far 12336 contracts have been traded.

At 15:09 hrs MCX SILVERMIC November contract was trading at Rs 58504.00 up Rs 1100.00, or 1.92%. It touched an intraday high of Rs 58700.00 and an intraday low of Rs 57588.00. So far 1420 contracts have been traded.

Brent may stay around $100/bbl in near-term: UBS Equities

Overnight, along with the big global equity rally, many commodities snapped back as well. Brent crude rallied above USD 100 a barrel while gold jumped over 1% after talks that major central banks would act to bolster a slowing global economy. 

Tom Price, global commodity analyst, UBS Equities Research gives his views on where specific commodities like Brent crude and gold are headed in the near to medium-term.

Experts bullish on gold, crude & nickel; negative on lead

Experts recommends buying MCX gold August contract at levels of Rs 30,050-30,070 per 10 grams with a stop loss of Rs 30,010 per 10 grams. We expect targets of Rs 30,180 per 10 grams and beyond that Rs 30,250 per 10 grams.