Weekly Commodity/MCX News:
Gold:-
The trend of Gold is Bearish. Gold remained week due to new trade tensions between US and China which boosted the Dollar. Expectation of rising in the interest rate buy Fed in September is also putting pressure on the prices. In MCX, it fell down by 305 points on weekly basis and ended at 29650 as compared to last week closing price of 29955. Gold prices are trading on weak note, thus we can expect the same momentum in Gold prices in upcoming day. Sell on high strategy would be better to follow for next week.
Resistance & Support
Resistance Support
29900 29400



Crude Oil:
The Crude oil can remain Bearish. The prices remained highly volatile during the week. A surprise rise in the inventory put pressure on the prices of Crude oil in later days of the week. In MCX, Crude oil prices ended lower by 20 points (0.43%) and ended at 4690 as compare to the last week closing price of 4710. Buy on dips strategy would be better to follow in Crude oil in coming days.
Resistance & Support
Resistance Support
4830 4550



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