Commodity Market live- Crude oil Continues to be Upside as Production Cut news But Demand is concern.
Investors were optimistic that production cuts implemented by OPEC+ and some American producers since May are finally making a dent in the global oversupply.
Group of countries with Saudi Arabia are keen to Cut the Production in the month of June .
Due to Lockdown Global Oil deman was very low or nil, but it will be on track because many of countries have been opened.
But with a global struggle to restart economies shut down by the COVID-19 virus, and some countries Like China and South Korea struggling to contain a second wave of cases, other investors struck a more cautionary note.
Countries such as Brazil and India are also experiencing an explosion of cases, with the number of global cases fast approaching 5 million.
WTI Crude oil Trading at 32$.
Brent Crude oil Trading at 34.70$.
Mcx Crude oil will open near 2420.
Commodity Market Live- Gold Futres are very Strong and currently Trading at 1753$ per ounce.
Gold Looks strong bullish not sustaining below 1740$.
Yesterday Gold Making lows below 1730$ then strongly gone upside to 1750$ in US session.
Mcx Gold was trading above 47050 .
TODAY GOLD RATE-
22 CARAT GOLD RATE 46560 PER 10 GM.
24 CARAT GOLD RATE 47560 PER 10 GM.