Commodity Live News Channel – Crude Oil Fell Nearly 1% as OPEC meeting is in this Month so all eye of investor is on meeting.
Tensions between the United States and China weighed on global financial markets.
While traders are also keeping an eye on riots over the weekend that have engulfed major U.S. cities.
Saudi is proposed to cut record output till year end.
The OPEC Meeting is in Algeria this month on 9-10th June.
But Meeting is Brought Forward on June 4 as OPEC proposed to OPEC+ Countries and has no any objection for the Meeting date fixed on June 4.
If OPEC+ Gives Extension For another 3 months of Production Cut then Oil prices may tocuh 40$ per Barrel.
This Month is very Crucial for Crude oil Prices .
WTI Crude oil Trading at 35.50 $.
Brent Crude oil Trading at 37.80$.
Mcx Crude Oil may open Near 2600.
Commodity Live News Channel- Gold is trading at 1751$ per Ounce ,flat Opening today.
Gold Prices are Likely to be in range this week ,Doller weekining may Take Gold slightly Upside.
Prices haven’t moved upside Because of Global Intrest rates are flattened .
Weaker U.S. Dollar is providing some support. This is because gold is dollar-denominated so when the greenback weakens, gold becomes more attractive to foreign buyers.
Mcx Gold Closed 46654 after Making Highs on Friday.
Gold Rate Today
22 Carat Gold Rate is 44170 per 10 gm.
24 Carat Gold Rate is 48170 per 10 gm.
Today ‘s Trend For Crude oil & Gold
Crude oil above 2696 bullish and may touch 2800/2850 today & Below 2432 its Bearish and may touch 2350/2300.
Mcx Gold above 47008 bullish and may touch 47300/47800 & below 46300 may touch 45700/45400.
For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.
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