Commodity Price News- Crude Oil Down Because US Stock Builds this week Inventory Reports shows.
Oil prices inched up in early trading on Thursday after sliding more than 5% in the previous session on worries that a rapid rise in COVID-19 cases could choke a revival in fuel demand, but volumes were thin with China out on a public holiday.
Another News is that Increase in cases of COVID 19 it can take Crude oil demand to lower level.
Crude oil Fell more than 6% Yesterday and did not sustains above 40$.
Gasoline supplied, a proxy for demand, jumped by 9% from the previous week, and U.S. gasoline stocks fell by 1.7 million barrels, the Energy Information Administration said.
WTI Crude Oil Trading at 37.78$.
Brent Crude Oil Trading at 40$.
Mcx Crude oil Trading at 2868.
Commodity Price News- Gold Trading at 1773$ after giving highs above 1790$.
The dollar index, which measures the greenback against a basket of six competing currencies, rose 0.6%, to 97.14.
On Wall Street, the Dow and S&P 500 both fell around 3% after states such as New York, New Jersey, and Connecticut said they would require visitors from states with high rates of infections to self-isolate for 14 days.
Gold after making highs near 1800$ given corrections to down.
Mcx Gold Trading at 48110.
Gold Rate Today
22 Carat Gold Rate Today is 45690 per 10 gm.
24 Carat Gold Rate Today is 49840 per 10 gm.
Today ‘s Trend For Crude oil & Gold.
Crude oil above 3020 bullish and may touch 3100/3150 today & Below 2765 its Bearish and may touch 2700/2650.
Mcx Gold above 48534 bullish and may touch 48800/48900 & below 47735 may touch 47620/47450.
For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.