Mcx Live News- Crude oil Opens in Red ,No any confirm Trend very flat movement.
Oil prices ticked higher on Thursday, although gains were limited by a surprise increase in U.S. crude oil reserves as the coronavirus pandemic hit fuel consumption.
U.S. crude and distillate inventories rose unexpectedly and fuel demand slipped in the most recent week, the Energy Information Administration said on Wednesday, as a sharp rise in coronavirus cases has started to hit U.S. consumption.
Crude inventories rose by 4.9 million barrels in the week to July 17 to 536.6 million barrels, compared with expectations in a Reuters poll for a 2.1 million-barrel drop. Production rose to 11.1 million barrels per day, up by 100,000 barrels per day.
The United States reported more than 1,000 deaths from COVID-19 on Tuesday, according to a Reuters tally, marking the first time since June 10 the nation has surpassed that grim milestone, as California closed in on passing New York in total infections.
A fresh dispute between Washington and Beijing put further pressure on prices.
The United States gave China 72 hours to close its consulate in Houston amid accusations of spying, marking a dramatic deterioration in relations between the world’s two biggest economies.
WTI Crude Oil Trading at 41.89$.
Brent Crude Oil Trafing at 44.30 $.
Mcx Crude oil will open near 3128.
Mcx Live News- Gold Shining more now adays trading above 1860$ can touch 1900$ soon.
Neither gold nor silver seem to be giving up in the race for honor among precious metals, with both hitting new milestones Wednesday on assurances of stimulus worldwide to beat the new wave of the coronavirus.
The white metal(Silver) has been on a winning streak over the past two-and-half months, gaining in nine of the past 10 weeks to culminate in its rise to above $23 per ounce from 11-year lows under $12 hit in March.
Silver is up 29% on the year while gold has risen 22%.
Gold has been propped up by promises of stimulus in the trillions dollars from global central banks. At the same time, safe-haven bids haven’t let up from those worried about further health and economic despair from a new wave of COVID-19 infections.
Yellow Metal is going to keep on shining as U.S. Treasury yields continue to slide, virus worries remain persistent, and talks on fiscal stimulus resume in the U.S.
Mcx Gold closed yesterday above 50000 on record highs.
Gold Rate Today
22 Carat Gold Rate Today is 47270 per 10 gm.
24 Carat Gold Rate Today is 51570 per 10 gm.
Today ‘s Trend For Crude oil & Gold.
Crude oil above 3190 bullish and may touch 3250/3300 today & Below 3080 its Bearish and may touch 3000/2950.
Mcx Gold above 50550 bullish and may touch 50750/50900 & below 49610 may touch 49550/49450.
For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.