Crude oil in Range 40-41$ slightly in red due to Strong build in US Inventory Data,Gold on Record High and Trading above 1800$.

mcx live chart crude oil

Mcx Live Chart Crude Oil- Crude Oil Trading in Range 40-41$, slightly in Red Because US Crude inventory Report strong build for this week.

Prices were little changed in the previous session and have been held in a narrow band over the past two weeks as concerns about a spike in coronavirus cases globally tempers optimism about a recovery in fuel demand.

U.S. crude oil stockpiles rose last week, against expectations for a draw, although gasoline and distillate inventories fell more than expected, data from industry group the American Petroleum Institute showed on Tuesday.

The U.S. Energy Information Administration’s (EIA) said on Tuesday U.S. crude oil production is expected to fall by 600,000 barrels per day (bpd) in 2020, a smaller decline than the 670,000 bpd it forecast previously.

Abu Dhabi National Oil Co (ADNOC) plans to boost oil exports in August, the first signal that OPEC and its allies, together known as OPEC+, are preparing to ease record oil output cuts next month, three sources familiar with the development told Reuters.

Key ministers of the OPEC+ are due to hold talks next week.

The number of confirmed coronavirus cases in the United States pushed past 3 million on Tuesday, according to a Reuters tally.

WTI Crude Oil Trading at 40.65$.

Brent Crude Oil Trading at 43.05$.

Mcx Crude Oil Trading will open neat 3040.

Mcx Live Chart Crude Oil- Gold Shoots Past $1,800 Again as New Covid-19 Wave Hits Markets.

Gold settled above $1,800 for the second time in a week on Tuesday as a wave of new coronavirus infections in the United States and the world pushed more investors to seek protection with the safe haven, amid a slide in global equity markets.

U.S. gold futures for August delivery on Comex settled up $16.40, or 0.9%, at $1,809.90. It marked the second settlement above $1,800 for Comex’s benchmark gold futures contract, after it broke above that level on June 30, for the first time in nearly nine years.

Stock prices fell across the world on Tuesday, with Wall Street’s Dow closing down 1.5%, as investors reacted grimly to the rising global toll of Covid-19, led by news that Brazilian President Jair Bolsonaro, who had downplayed the virus for months, had tested positive now.

Data shows that some 3 million Americans have been infected by the virus so far, with a death toll exceeding 133,000. 

A new model by the University of Washington also predicts 200,000 coronavirus deaths in the United States by Oct. 1, casting further doubts on economic reopening from lockdowns. 

Mcx Gold yesterday Closed at 48800.

Gold Rate Today

22 Carat Gold Rate Today at 45700 per 10 gm.

24 Carat Gold Rate Today at 49850 per 10 gm.

Today ‘s Trend For Crude oil & Gold.

Crude oil above 3113 bullish and may touch 3150/3180 today & Below 3012 its Bearish and may touch 2950/2900.

Mcx Gold above 49299 bullish and may touch 49500/49700 & below 48301 may touch 48100/47900.

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

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