We expect Crude prices to consolidate in the range of Rs. 4100-4400 level in the short-term - ICICI Direct
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Bullion Outlook
* Gold prices started Tuesday's trade on a tepid note and later corrected gradually during most of the session till a low of | 44633
* The dollar rose 0.5% against rivals while US benchmark Treasury yields dipped. A stronger greenback raises the cost of holding bullion for other currency holders.
* Hence, we expect gold prices to consolidate in the range of | 44000-45000 levels in the short-term
Energy Outlook
* Crude oil prices started Thursday’s trade on a flat note and fell sharply during most of the session till a low of | 4230
* A stronger US dollar also weighed on prices. As oil is priced in US dollars, a stronger greenback makes oil more expensive for holders of other currencies
* Therefore, we expect crude prices to consolidate in the range of | 4100-4400 level in the short-term
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