MCX Gold
MCX Gold prices are
trading in a falling channel formation on hourly time frame. For now we expect
prices should move lower towards 30550 levels in the coming trading sessions.
MCX Crude Oil
MCX Crude Oil prices have
completed Bullish AB = CD pattern at 2926 levels on hourly time frame. For now
we expect prices to move higher towards 3015 levels in coming trading sessions.
Fundamental News:
Gold held mostly steady in
Asia on Thursday with central bank meetings in the U.S. and Japan next week
setting a high-stakesstage for markets.
Gold prices struggled near
the lowest level in nearly two weeks during Europe's session on Thursday, as
investors focused on the next set of U.S. data to see whether it supports
expectations that the Federal Reserve will raise interest rates before the end
of the year.
Gold prices sank to fresh
two-week lows during North America's session on Thursday, as investors digested
the release of a host of U.S. economic data.
Oil prices rose on
Thursday after falling around 3 percent in the previous session, supported by
an unexpected fall in U.S. crude inventories.
Recent developments in the
OPEC universe have fueled speculation that oil producers might actually be able
to agree on something at the informal talks in Algiers, Algeria, set for
September 26-28.
Oil prices fell to a new
two-week low during European hours on Thursday, adding to steep overnight
losses amid mounting concerns over a global supply glut.
Oil prices wobbled near a
two-week low during North American hours on Thursday, as a planned resumption
of oil exports by Libya and Nigeria added to concerns over a global supply
glut.
U.S. natural gas futures
trimmed losses on Thursday morning, after data showed that natural gas supplies
in storage in the U.S. rose less than forecast last week.
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