Crude oil falls due to rising cases on corona virus across the world with very low demand for crude,Gold up for 4th Week Despite Resurgent U.S. Jobs

commodity market live

Commodity Market Live- Crude Oil falls because rising cases of corona virus across the world and crude having very low demands.

Increases in the daily cases of the coronavirus, however, globally and in the United States pressured prices. New U.S. COVID-19 cases rose by more than 50,000 on Thursday, setting a record for a third consecutive day.

India also increasing cases this week with record cases above 21000 in single day today .

The U.S. gasoline stocks rose by 1.2 million barrels in the week to June 26, according to data from the Energy Information Administration released on Wednesday.

Crude Oil Range is 35-40$ from past week, above closing or below will confirm the trend.

WTI Crude oil Trading at 40.40$.

Brent Crude oil Trading at 42.88$.

Mcx Crude oil Will open near 3020.

Commodity Market Live- Gold finished up on Thursday and not too far from $1,800 highs hit earlier in the week as the safe-haven crowd stayed loyal to the precious metal despite upbeat U.S. jobs numbers for June.

Gold rose for a fourth straight week despite a surge in risk appetite earlier in the day on Wall Street, sparked by the U.S. Labor Department’s non-farm payrolls report showing the economy added 4.8 million jobs in June versus a forecast growth of 3 million jobs.

Gold Trading at 1787$ per Ounce.

Gold should see support stem from a weakening U.S. dollar, expectations for more global monetary and fiscal stimulus, and Chinese retaliatory expectations following the U.S. steps to roll back special trading privileges for Hong Kong.

Mcx Gold closes above 48100 yesterday.

Gold Rate Today

22 Carat Gold Rate Today is 45680 per 10 gm.

24 Carat Gold Rate Today is 49830 per 10 gm.

Today ‘s Trend For Crude oil & Gold.

Crude oil above 3085 bullish and may touch 3120/3180 today & Below 2915 its Bearish and may touch 2850/2800.

Mcx Gold above 48670 bullish and may touch 48900/49100 & below 47860 may touch 47650/47450.

For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.

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