Commodity Fundamental News- Crude oil Falls Because of Low Demand,meanwhile Hongkong tension rises.
Oil Prices Falls on wednesday as Fuel Demands is not as expected after Lockdown eases.
The OPEC & OPEC+ Countries are Cutting output nearly 10 million barrels per day as Prices where sharp fall in Effect of Corona Virus.
Hongkong Tension also rises as USA & CHINA relations is bad , and China is Making Hongkong tense even Worse.
USA Crude oil Demands Pick up & Inventories in this week also Falling for 3rd week.
WTI Crude oil Traing at 34.10$.
Brent Crude oil Trading at 36$.
Mcx Crude oil Trading at 2587.
Commodity Fundamental News- Gold Falls and trading at 1701$ per Ounce.
Gold Trading at 2 weeks lower today Because of several Economies are Re-opening.
Sino-US Relation over Beijing’s Proposed Security Law For Hongkong Tempered Losses.
Yellow Metal was Having good Support near 1720$ and it was Broken Yesterday and its below 1705$ trading.
US President Trump Saud Washington is working for strong Response on China’s Planned Security Law For Hongkong.
Despite Week Fundamental News for Bullions its still Bullish.
Mcx Gold is Trading at 46180.
Gold Rate today
22 Carat Gold rate is 45900 per 10 Gms.
24 Carat Gold rate is 46900 per 10 Gms.
Today Trend For Crude oil & Gold
Crude oil above 2638 bullish and may touch 2700/2750 today & Below 2510 its Bearish and may touch 2450/2380.
Mcx Gold above 46904 bullish and may touch 47350/48000 & below 45741 may touch 45300/45000.
For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.
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