Crude Oil opens Green Today as investors expected Saudi can Announce any time production cut- zee commodity news.
Saudi Energy minister Abdulaziz Bin Salman in overnight news conference told Saudi arabia , Kuwait & United Arab Emirates would not continue an additional production cut of 1.8 million bpd in july.
Meanwhile Saudi Arabia’s Aramco Increases the oil prices for July exports by the most in twenty years earlier in june.
Now investors are looking to inventory figures, to be released by the American Petroleum Institute (API) later in the day and the Energy Information Administration (EIA) on Wednesday.
WTI Crude oil Trading at 38.40$.
Brent Crude oil Trading at 40.90$.
Mcx Crude oil may open near 2900.
Gold Trading at 1701$ per Ounce after making lows below 1680$–zee commodity news.
Yellow metal makes again trading above 1700$ despite Stock rallys ,Fed meeting this week is the main key.
Stocks, which typically move in the opposite direction to gold.
Which have been on a tear since the Labor Department reported an unexpected hike of 2.5 million U.S. jobs in its May report.
Despite the continued shutdown of many businesses last month from Covid-19.
Gold futures slumped beneath $1,700 right after the release of the jobs report early Friday.
Fed meeting which begins a two-day policy meeting on Tuesday, will be closely watched for what it says in response to the unexpected jobs growth in May.
Mcx Gold Closed above 46100 yesterday.
Gold Rate Today
22 Carat Gold Rate today 43750 per 10 gm.
24 Carat Gold Rate today 47720 per 10 gm.
Today ‘s Trend For Crude oil & Gold.
Crude oil above 2983 bullish and may touch 3150/3200 today & Below 2780 its Bearish and may touch 2750/2650.
Mcx Gold above 46658 bullish and may touch 46800/47000 & below 45545 may touch 45400/45200.
For any Query or any Holding positions in Mcx Crude & Gold can Call or whatsapp to 08050795677.