Commodity News Live- Crude Oil Trading in Green after sharp down from yesterday, Trading above 40$.
Oil prices rose on Friday, recovering further ground after touching three-week lows in the previous session, hit by a record decline in U.S.
OPEC+, a grouping of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively plan to increase production from Saturday, adding about 1.5 million barrels per day to global supply.
Globally, the economic outlook has dimmed again, with increasing coronavirus infections raising the risk of renewed lockdowns and threatening any rebound.
WTI Crude Oil Trading at 40.05$.
Brent Crude Oil Trading at 43.40$.
Mcx Crude Oil Trading at 3000.
Commodity News Live-Gold Trading above 1960$ may Go 2000$ in few sessions.
Gold’s nine-day run-up hit a bump on Thursday on across-the-board selling by investors responding to the worst economic quarter in U.S. history.
U.S. weekly unemployment claims, also released Thursday, showed some 1.43 million Americans filing for first-time unemployment benefits last week.
Federal Reserve Chairman Jay Powell warned on Wednesday the pace of economic recovery has slowed since business reopenings from lockdown.
He also said some jobs lost to the pandemic may never return, adding that many laid off from eateries and places of public entertainment such as restaurants and bars do not have enough jobs to return to.
Gold’s slide on Thursday was also accelerated by longs clearing positions ahead of Friday’s final settlement for those not wanting to take physical delivery of the metal before the expiry of the August futures contract.
Mcx Gold Trading now above 53500 levels may touch 55000 soon.
Gold Rate Today
22 Carat Gold Rate Today is 50460 per 10 gm.
24 Carat Gold Rate Today is 54960 per 10 gm.
Today ‘s Trend For Crude oil & Gold.
Crude oil above 3106 bullish and may touch 3150/3200 today & Below 2878 its Bearish and may touch 2830/2800.
Mcx Gold above 53646 bullish and may touch 54000/54200 & below 52630 may touch 52400/52200.
For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.