Varying market sentiments on the back of rising risks associated with the European economies is expected to lead to risk aversion in the global markets. Additionally, US economic data to be released at 7.00pm IST today is forecast to show a rise in unemployment claims. If the data comes in as per expectations then sentiments could take a hit further.
On account of this, we expect precious metals and base metals to trade on a negative note today. Crude oil prices on the other hand are expected to trade on a rangebound note today, taking mixed cues from weak global market sentiments on one hand and supply-side worries from Iran on the other.
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