Commodity Market Live Now- Crude Oil in Green as Vaccine news counters rise in vaccine cases.
Crude Oil prices were little changed on Tuesday, trapped in the narrow trading band of the past three weeks as investors gauged hopes for a recovery in oil demand.
Prices were offered some support by positive news on the development of vaccines as drugmakers and medical institutions rush to find a way to counter the world’s worst health crisis in a century.
The closing prices of both Brent and WTI have traded within a $2 channel so far this month.
However, other countries from the United States to India are still posting record numbers of infections, while some nations such as Spain and Australia are battling renewed outbreaks.
More than 14.6 million people have been reported to be infected by the novel coronavirus globally and 606,979 have died, according to a Reuters tally.
Hope is being giving from a number of studies and tests showing promise for various vaccines.
WTI Crude oil Trading at 40.90$.
Brent Crude oil Trading at 43.34$.
Mcx Crude oil will open at 3055.
Commodity Market Live Now-Gold is Trading at 1820$ per Ounce because of Virus cases are increasing very higher day by day.
Asian shares were set to open higher on Tuesday after U.S. markets gained ground on positive data from trials of three potential COVID-19 vaccines and hopes that the European Union would finalize a recovery fund.
Early data from trials of three potential COVID-19 vaccines released on Monday, including a closely-watched candidate from Oxford University, increased confidence that a vaccine can train the immune system to recognize and fight the novel coronavirus without serious side effects.
However, worries about the pandemic’s economic and human toll pushed gold prices to their highest level since September 2011 on Monday. U.S. gold futures settled up 0.4% to $1,817.40 per ounce.
Gold Rate Today
22 Carat Gold Rate Today is 46350 per 10 gm.
24 Carat Gold Rate Today is 50570 per 10 gm.
Today ‘s Trend For Crude oil & Gold.
Crude oil above 3115 bullish and may touch 3150/3200 today & Below 3020 its Bearish and may touch 2970/2850.
Mcx Gold above 49299 bullish and may touch 49350/49400 & below 48755 may touch 48650/48450.
For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.