Gold prices are facing resistance around the 50 DMA, which is placed around 59000 - Swastika Investmart Ltd
COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Oil ticks higher after China moves to support flagging economy
* Oil prices edge higher after two weeks of losses, WTI tests $80
* Oil up but ends week down again as Powell signals more U.S. rate hikes
CHART OF THE DAY
GOLD: Gold prices are facing resistance around the 50 DMA, which is placed around 59000. When it successfully closes above the 50 DMA, it will test 59500–59800 levels. On the downside, 58000 is the first support zone, while below 58000 it may head towards the 57800–57500 zone
OUTLOOK:
* Bullion: Day trend is indicating sideways to upside in Gold &Silver.
* Energy: Day trend is indicating sideways to downside in Crude oil & Natural gas
* Base metals: Day trend is indicating sideways to upside in all base metals
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