Commodity view by Bhavik Patel of Tradebulls Securities: Buy Gold, Copper

Gold is positive but overbought in short term, so, do not to take a fresh long position from here but let it come around to Rs 42,550 for fresh long positions

The Indian rupee has depreciated against US Dollar as the Dollar index is trading at four-month high and Asian currencies have been falling due to the spread of coronavirus. Chinese Yuan has traded above 7.00 mark for the past two consecutive trading sessions and for the sixth consecutive month. India’s exports fell 1.7 per cent in January 2020. Imports also saw a decline and for the tenth month in a row while the trade deficit came at seven-month high. All this have weakened Indian currency but the Reserve Bank of India (RBI) had bought aggressively near 71.10-20 levels to build