Crude oil Range movement in 40-41$ from past 2 weeks no clear trend,Gold very strong Trading above 1805$ per Ounce.

commodity news channel

Commodity News Channel- Crude Oil in Range Bond 40-41$ from past 10 days no any confirm trend.

Oil slipped in early Asian trade on Monday as traders eyed an OPEC technical meeting this week which is expected to recommend an easing in supply cuts that have been propping up crude prices.

Crude Oil was little changed last week as a resurgence of coronavirus cases prompted several U.S. states to impose tighter travel restrictions that could dampen oil demand recovery at the world’s largest consumer.

The Oil prices have recovered sharply from multi-decade lows in April after the Organization of the Petroleum Exporting Countries and allies including Russia.

A group known as OPEC+, cut output by a record 9.7 million barrels per day for three months since May.

Libya exported its first crude cargo in six months on Friday after a blockade by eastern forces, but then re-imposed force majeure on all oil exports on Sunday.

WTI Crude Oil Trading at 40.22$.

Brent Crude Oil Trading at 42.91$.

Mcx Crude Oil Trading at 3026.

Commodity News Channel-Gold Trading at 1809 $ per Ounce its very Strong and well sustain above 1805$ today.

Gold prices fell marginally lower on Friday as a strong recovery in U.S. equities curtailed flows into bullion.

Nonetheless, the precious metal still managed to finish higher for a fifth straight week.

Earlier in the week, the futures market posted a new contract high, while spot gold reached its highest level in nearly nine years.

Gold prices further weakened on Friday after Treasury yields bounced off their lows and traded near the flat line after the announcement from Gilead.

The yield on the benchmark 10-year Treasury note were about little changed at 0.599% after hitting its lowest level since April 22 earlier in the session.

The yield on the 30-year Treasury bond dipped about 2 basis points.

Mcx Gold Trading at 49030 .

Gold Rate Today

22 Carat Gold Rate Today is 46220 per 10 gm.

24 Carat Gold Rate Today is 50440 per 10 gm.

Today ‘s Trend For Crude oil & Gold.

Crude oil above 3143 bullish and may touch 3180/3220 today & Below 2943 its Bearish and may touch 2850/2800.

Mcx Gold above 49246 bullish and may touch 49450/49570 & below 48480 may touch 48350/48150.

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

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