Gold is continuing its bullish momentum above 59000- Swastika Investmart
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COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Oil rises as dollar slides before CPI data, Brent nears $80
* Oil flat after bigger-than-expected build in U.S. crude stockpiles
* Gold prices rise as Fed fears ease ahead of CPI report
CHART OF THE DAY
GOLD: Gold is continuing its bullish momentum above 59000; it successfully closed above these resistance levels due to weakness in the dollar index in the global market and US bond yield. Technically, 59500 is the first and immediate target level; on the downside, 59000–588000 are important support levels.
OUTLOOK:
* Bullion: Day trend is indicating sideways to upside in Gold &Silver.
* Energy: Day trend is indicating sideways to upside in Crude oil & Natural gas
*Base metals: Day trend is indicating sideways to upside in all base metals.
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