Gold And Crude Oil Outlook For Week


Posted October 1, 2018 by contactmail86

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Gold:-
The trend of Gold is bearish. Federal Reserve raised US Interest Rate this week which strengthened Dollar. Strong dollar put pressure on the gold prices. Investors are expecting more rate hike in 2018. Gold losses its gains at the starting of this week and went below 15 days low. In MCX, the price tumbles down by 101 points on weekly basis and ended at 30481 as compared to last week closing price of 30582. Sell on high strategy would be better to follow for next week.
Crude Oil:
The Crude oil can remain Bullish. The oil market is stimulating for a hit to global supplies from the sanctions. Even though a surprised build up in US crude oil inventory, Crude oil prices went higher due to impending drop in Iranian exports. In MCX, Crude oil prices went higher by 189 points this week and ended at 5335 as compare to the last week closing price of 5146. Buy on dips strategy would be better to follow in Crude oil in coming days.



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Categories Finance , News
Tags stock market tips , commodity tips
Last Updated October 1, 2018