Commodity Market Live Data- Crude oil Trading sideways because of many Global factors.
Oil prices offered up a mixed market snapshot on Monday, with Brent crude edging higher, supported by tighter supplies, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb oil demand in the United States.
OPEC and allies including Russia, collectively known as OPEC+, have pledged to slash production by a record 9.7 million barrels per day (bpd) for a third month in July. After July, the cuts are due to taper to 7.7 million bpd until December.
U.S. production, the world’s largest, is also falling. The number of operating U.S. oil and natural gas rigs fell to an all-time low for a ninth week, although the reductions have slowed as higher oil prices prompt some producers to start drilling again.
WTI Crude oil Trading at 40.39$.
Brent Crude oil Trading at 42.93$.
Mcx Crude oil will open near 3020.
Commodity Market Live Data- Gold Down, with Earlier Rally Tempered by Rising COVID-19 Numbers.
Gold futures were down by 0.51% to $1,780.90, giving up its earlier gains as investors digested the spike of cases in many U.S. states over the long weekend.
There were over 2.8 million cases in the country as of July 6, according to Johns Hopkins University data.
Stocks, which usually move in the opposite direction to gold, were up on Monday morning.
Important Data we have to see today- U.S. services sector activity data for June scheduled to be released later in the day.
Mcx Gold Closed above 48000, today will open down.
Gold Rate Today
22 Carat Gold Rate Today is 45670 per 10 gm.
24 Carat Gold Rate Today is 49770 per 10 gm.
Today ‘s Trend For Crude oil & Gold.
Crude oil above 3070 bullish and may touch 3120/3180 today & Below 2945 its Bearish and may touch 2880/2800.
Mcx Gold above 48340 bullish and may touch 48500/48600 & below 47560 may touch 47450/47350.
For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.