Gold witnessing the sharp selling pressure below 50500 levels - Swastika Investmart
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Daily Commodity Market Updates
News in headlines:
* Oil Resumes Climb Despite Weaker Demand Worries
* Oil climbs even as weaker demand concerns cap gains
* Column-World wheat squeeze set to worsen into 2023, price risks remain -Braun
Chart of the day:
GOLD: GOLD witnessing the sharp selling pressure below 50500 levels, but it starts to trade below 50150 then we can expect further weakness towards 49800-49600 levels, on the upside 50500-50600 is an immediate resistance levels.
Technical View:
* Bullion: Day trend is indicating downtrend in Gold & Silver.
* Energy: Day trend is indicating uptrend in Crude oil & uptrend in Natural gas.
* Base metals: Day trend in base metal is indicating sideways to downtrend.
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