IGI Logo

Bullion Outlook

Gold prices started Monday’s trade on a weak note opening slightly lower and consolidated during the whole session in the range of | 47350-47500 levels

Prices steadied near a two and a half-month high in the last session after weaker-than-expected US non-farm payrolls data drove expectations that the Federal Reserve may go slow on tapering economic support measures

Hence, we expect gold prices to remain positive towards | 48000 level for the day

Energy Outlook

Crude oil prices opened sharply lower with a gap on Monday and recovered gradually during most of the session till a high of | 5084

Prices corrected sharply in the last session after Saudi Arabia slashed crude prices for Asian buyers by a larger-than-expected margin just days after Opec+ agreed to continue raising production

Therefore, we expect crude prices to correct further towards | 4950 level for the day

To Read Complete Report & Disclaimer Click Here

https://secure.icicidirect.com/Content/StaticData/Disclaimer.html

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer