Commodity Online- Crude Oil is Trading in Range 35-40$ Because of no any confirm trend .
Oil prices dipped on Thursday after the United States recorded its biggest one-day spike in coronavirus cases and California reimposed some lockdown measures, stoking worries a resurgence in COVID-19 cases will stall a recovery in fuel demand.
Day By Day COVID Cases are rising and Crude oil Demand are lower so Prices again down.
All eyes will be on driving activity in the United States over the upcoming July 4th holiday weekend and how quickly U.S. producers revive shut-in production.
The EIA data showed that gasoline imports hit the highest level since last August and peaked the most on a seasonal basis in nine years.
WTI Crude oil Trading at 39.80$.
Brent Crude oil Trading at 42.05$.
Mcx Crude oil will open near 3000.
Commodity Online- Gold Down after Making highs above 1800$,currently Trading at 1778$ per Ounce.
U.S. gold futures for August delivery on Comex settled down $20.60, or 1.1%, at $1,779.90. On Tuesday, August gold hit $1,803.95, the highest for a benchmark contract on Comex since the all-time peak of $1,911.60 set in September 2011.
The United States has reported some 40,000 new daily coronavirus cases in the so-called “second-wave” of the outbreak, and top U.S. pandemics expert Anthony Fauci said on Tuesday this could grow to 100,000 daily without proper social-distancing and other safety measures.
Virus presents the most risk to rising long-term breakevens, which have been a powerful driver supporting gold prices.
Mcx Gold Closes lower at 48260 yesterday. Today will open down near 48000 or below.
Gold Rate Today
22 Carat Gold Rate Today at 46060 per 10 gm.
24 Carat Gold Rate Today at 50210 per 10 gm.
Today ‘s Trend For Crude oil & Gold.
Crude oil above 3073 bullish and may touch 3120/3180 today & Below 2933 its Bearish and may touch 2850/2800.
Mcx Gold above 48875 bullish and may touch 49100/49300 & below 47760 may touch 47550/47400.
For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.