Mcx Live- Crude oil Down Because of USA Weekly Inventories stock rises.
API reported a 3.9 million-barrel build for the week ending June 12 on Tuesday.
Due to Rising cases of corona virus in China and other countries , could Drop oil Further in coming days because of slow demand.
All eyes will be on the U.S. Energy Information Administration supply forecast due later in the day, as well as on the results of the OPEC-led monitoring panel on Thursday.
The panel will review compliance with OPEC’s pledged production cuts, in place until the end of July, and look at ways to support prices.
WTI Crude Oil Trading at 37.50$.
Brent Crude Oil Trading at 40.27$.
Mcx Crude Oil May open at 2860.
Mcx Live-Gold Futures Currently Trading at 1730$ per Ounce.
Gold is well Trading above 1720$ & May touch our awaited targets 1800$ in few days.
US Close: Beijing Lockdown Risk, Trump’s Trillion-dollar dream, Retail Shocker, Florida/Texas cases spike, Powell’s Uncertain Recovery, Oil and Gold follow Beijing story.
Mcx Gold Closes Higher Yesterday above 47500.
The Yellow metal Have good Support levels near 1685$ & Good Resistance levels above 1765$.
Gold Rate For Today
22 Carat Gold Rate today at 44600 per 10 gm.
24 Carat Gold Rate today at 48700 per 10 gm.
Today ‘s Trend For Crude oil & Gold.
Crude oil above 2965 bullish and may touch 3050/3100 today & Below 2701 its Bearish and may touch 2670/2570.
Mcx Gold above 47870 bullish and may touch 48000/48100 & below 47100 may touch 46950/46850.
For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.