Commodity Market Live- Crude Oil Prices Falls Because Bigger than Expected over supply By USA.
The American Petroleum Institute (API) estimated a large build of 1.749 million barrels for the week ended June 19 on Tuesday.
OPEC+ Production cut will be end in July Month but Increase in Corona Virus cases may lead to low demand in coming days that crude prices may go deep again.
There are over 9.2 million cases globally as of June 24.
Meanwhile, all investor eyes are now on whether the U.S. Energy Information Administration’s (EIA) will also predict a build in the supply later in the day.
WTI Crude oil Trading at 40$.
Brent Crude oil Trading at 42.36$.
Mcx Crude Oil Trading at 3032.
Commodity Market Live- Gold Trading at 1786$ per Ounce which is almost on record High after 8 years.
We already told many times in past when market was below 1685$ that Gold will touch 1800 $ per Ounce in coming trading session.
Bullion has jumped this year as the Federal Reserve and other central banks lowered interest rates, while governments worldwide pumped in trillions in stimulus to rescue economies hurt by the pandemic.
Aided by concerns of currency debasement and a potential jump in inflation, investors are turning to gold as a store of wealth. With real U.S. interest rates negative.
Mcx Gold Trading at 48273 .
Gold Rate Today.
22 carat Gold Rate Today is 45360 per 10 gm.
24 carat Gold Rate Today is 49470 per 10 gm.
Today ‘s Trend For Crude oil & Gold.
Crude oil above 3128 bullish and may touch 3155/3200 today & Below 3003 its Bearish and may touch 2950/2850.
Mcx Gold above 48627 bullish and may touch 48800/48900 & below 47837 may touch 47650/47450.
For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.