Commodity Live Rates- Crude Oil Trading in Sideways and in Rangebond 40-42$ no any confirm trend.
Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts had expected, bolstering hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic.
The American Petroleum Institute said on Tuesday that crude stocks fell by 4 million barrels last week, more than analysts’ expectations of a 2.9 million-barrel draw. Official government data is due on Wednesday.
WTI Crude Oil Trading at 41.70$.
Brent Crude Oil Trading at 44.68$.
Mcx Crude Oil will open near at 3111.
Commodity Live Rates- Gold in Red and going only Down its below 1900$ now.
Gold’s rout is not yet done. Prices plunged below $1,900 an ounce on Tuesday, extending the precious metal’s slump into a second day after the haven collapsed more than 5% in the week’s opening session.
After setting a record above $2,000 an ounce last week, gold’s rally has come to a juddering halt as U.S. bond yields advanced, eroding the haven’s appeal.
The swift drop followed modest outflows from gold-backed exchange-traded funds, and a 15-day run in overbought territory for the relative strength index.
Mcx Gold closes Below 52000 yesterday.
Gold Rate Today
22 Carat Gold Rate Today is 51870 per 10gm.
24 Carat Gold Rate Today is 56640 per 10gm.
Today ‘s Trend For Crude oil & Gold.
Crude oil above 3185 bullish and may touch 3250/3300 today & Below 3076 its Bearish and may touch 3020/2940.
Mcx Gold above 53811 bullish and may touch 54000/54500 & below 50054 may touch 49800/49600.
For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.