Crude Oil Drops as Demand worries & as Fear of 2nd Corona Virus Wave,Gold also in Red.

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Commodity Trading App- Crude Oil Drops as Demand Worries & 2nd Wave of Corona Virus Impact.

Fears of a second wave of COVID-19 cases spiked over the weekend, with China reporting 57 new cases on June 13 after a new outbreak in Beijing’s Xinfadi market.

Beijing has since closed both the market as well as 11 surrounding districts.

In Japan also reported around 50 New cases & USA also Increasing Cases.

Black Liquid has Low Demand due to Rise in Corona Virus cases in major Economic Countries.

OPEC+ Countries Will discuss about Production cut but will not make any decision.

OPEC extended its pledged cuts until the end of July earlier in the month.

WTI Crude oil Trading at 35.45$.

Brent Crude oil Trading at 38$.

Mcx Crude oil may Open at 2675.

Commodity Trading App-Gold in Red Trading at 1735$ per Ounce.

The Fed’s comments were supportive for gold, but there was nothing surprising enough that could launch prices to new  highs for short run.

Gold Futures Finished Higher in last Week for first time in three weeks.

The U.S. Federal Reserve on June 10 signaled its plans of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic.

Gold is in Range from many days Trading in range 1690-1760$.

Mcx Gold 47335 closed last week , Gold Trading at 47170.

Gold Rate Today

22 Carat Gold Rate Today is 44870 per 10 gm.

24 Carat Gold Rate Today is 48900 per 10 gm.

Today ‘s Trend For Crude oil & Gold.

Crude oil above 2833 bullish and may touch 2900/3000 today & Below 2643 its Bearish and may touch 2570/2500.

Mcx Gold above 47944 bullish and may touch 48100/48200 & below 46724 may touch 46620/46450.

For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.

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