Gold Market Trading News & Updates


Market Outlook
Gold price today’s trading with strong rise to breach 30600 level and settles above it now, the bullish trend will be expected for the upcoming period, Crude oil price continues to rise of the first waited target at 4190,the bullish trend will remain valid and active on the intraday and short term basis, Copper price continues to provide slow and up trading session since the last period, the price to gain the required momentum and breaching level 465.50, to confirm the continuation of the positivity in the upcoming period. Expected trading range for today is between 459.50 and 465.50.

Fundamental News
Gold prices moved higher on Monday, as sentiment on the U.S. dollar weakened due to a decline in bond yields and as traders grew more cautious ahead of new Federal Reserve head Jerome Powell’s testimony this week.

Crude oil prices were hovering near two-week highs on Monday, The Organization of the Petroleum Exporting Countries (OPEC), along with some non-OPEC members led by Russia, agreed in December to extend oil output cuts until the end of 2018.

Gold showed sideways to bullish movement and found the major resistance level of 30800. Now if price sustains on higher level then it will test next resistance level of 31000. On other side 30300 will be major support level.

Silver showed sideways to bearish movement and found the major support level of 38000. Now if price sustains on lower level then it will test next support level of 37700. On other side 38900 will be major resistance level.

Crude oil showed sideways to bullish movement and found the major resistance level of 4197. Now if price sustains on higher level then it will test next resistance level of 4248. On other side 4093 will be major support level.

Copper showed sideways to bullish movement and found the major resistance level of 463. Now if price sustains on higher level then it will test next resistance level of 466. On other side 453 will be major support level.

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