Bullions look a little weak: Ashish Shah, Sushil Finance

Ashish Shah, Research Head (Commodities), Sushil Finance in an interview with ET Now talks about bullions.

ET Now: Turning to precious metals and that has been one space that has seen some buying though not in the dollar terms but if you look at the sterling terms, it is at record highs and if you look at the Australian dollar terms, it is trading at a one year highs there as well, how would you want to play that one?

Ashish Shah: Bullions as far as gold or silver is concerned, they still technically look a little weak especially with the interest rates expected to remain low. So we may see slight strength in the dollar. That will keep the base metal pact low now. As far as silver is concerned, I would suggest all the long positions that keep an eye on levels of 53750, any close below that, one should exit long position and probably enter short positions. As far as gold is concerned, we are looking at selling for the day near 22700 but on the lower side, 22550 can be a level to even look at going long for a medium term horizon.