Online MCX Trading Tips and Gold Market Watch

a1

Market Outlook

Gold prices on Thursday climbed back above the $1,200 mark for the first time since November, as the dollar fell on disappointment that President-elect Donald Trump didn’t provide more details on his economic plans at a closely watched press conference. We expect in coming session bullion may trade to more bullish. Crude trade higher on Thursday, supported by expectations of strong demand growth in China and signs that Opec members are starting to cut output, but markets were still held back by rising US crude inventories and plentiful global supplies. In next session it may trade in bullish note.

a2

Fundamental News

Gold edged higher early on Thursday to hold near 7-week highs touched in the previous session, as the dollar weakened.

Oil prices jumped more than $1 a barrel on Thursday on news that key OPEC members were cutting production as promised and on forecasts of strong demand growth in China.

 a3

a4

Gold showed sideway to bullish movement and found the important resistance level of 28550. Now if it will sustain below the important support level of 28250 then 28000 will act as next support level. On the other hand 28550 will act as a major resistance level.

a5

Silver showed bearish movement and found the important support level of 40500. Now if it will sustain below 40500 then 40000 will act as next support level. On the other hand 41500 will act as a major resistance level.

a6

Crude showed sideways to bullish movement and found the important resistance level of 3650. Now if it will close above the important resistance level of 3650 then 3700 will act as next resistance level. On the other hand 3550 will act as a major support level.
a7

Copper showed sideways movement and found the important resistance level of 401.30. Now if it will close below the important support level of 395 then 390 will act as next support level. On the other hand 405 will act as a major resistance level.

a8

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published. Required fields are marked *