NEWS FLASH

Successful Meet at Doha: Oil Production will be stabilized 

"Qatar, Saudi Arabia, Russia and Venezuela would lead an effort to freeze output at January levels and due to which  Brent crude futures pared gains."

 The large producers met in Doha, Qatar, to discuss measures to tackle a supply glut that's sent prices to 13-year-lows.It had become a global issue as Saudi Arabia was not ready to freeze the supply of oil due to which oil prices went down.

Qatar's energy minister, Mohammad bin Saleh al-Sada, believes that the agreement would help in  stabilizing  the market. Saudi oil minister Ali Al-Naimi said the freeze was "adequate" for the market, and declared the  meeting to be  successful. He added he hoped producers inside and outside OPEC would adopt the proposal.
Qatar is the current holder of the rotating OPEC presidency.
Earlier, news of the meeting news sparked hopes of an eventual deal on supply cuts, after Saudi Arabia-led oil cartel OPEC previously persistently refused to lower its 30 million barrel-a-day production ceiling in a strategy to squeeze out higher cost energy producers, including U.S. shale companies.

MCX Gold & Silver Tips & Strategy for This Week

MCX Gold & Silver Tips : MCX June Gold Future traded higher due to weakness in US dollar along with worries over Europe Debt. Due to positive sentiments in global market also added bullish market sentiment. MCX Silve ralso taking cues from rise in gold prices.

*Buy MCX Gold June between 28740-28800 with a Stop Loss of 28490 with a Target of 29320/29570.

MCX Gold & Silver Strategy for this Week : Gold and Silver are expected to trade with mixed sentiments this week. Gold is expected to trade higher due to positive breadth in the global market. MCX June Gold has a strong support at 28,740/28,500 levels and resistance levels at 29,320/29,580 levels. MCX May Silver has a strong support at 54,400/53,500 levels and resistance levels at 57,500/58,000.