Crude oil prices started Tuesday’s trade on a strong note opening higher - ICICI Direct
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Bullion Outlook
Gold prices opened slightly lower on Tuesday and fell further during most of the session till a low of | 46864
Prices retreated further from a two and a half-month peak hit last week, as a firmer dollar and a rise in US Treasury yields dented demand for safe-haven bullion
Overall, we expect gold prices to consolidate in the range of | 46800-47200 levels for the day
Energy Outlook
Crude oil prices started Tuesday’s trade on a strong note opening higher and corrected gradually during most of the session till a low of | 4975
Prices remained under pressure in the last session as investors assessed a demand outlook still clouded by the Covid-19 resurgence in many regions
Hence, we expect crude prices to correct further towards | 4950 level for the day
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