Gold prices opened flat on Tuesday - ICICI Direct
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Bullion Outlook
* Gold prices opened flat on Tuesday and consolidated during most of the session in the range of | 46700-47000 levels
* Prices remained supported in the last session as Federal Reserve Chair Jerome Powell said the central bank would keep monetary policy accommodative as the US economy still needed support
* Hence, we expect gold prices to recover further towards | 47500 level in the short-term
Energy Outlook
* Crude oil prices started Tuesday’s trade on a strong note opening higher with a gap and corrected gradually during most of the session till a low of | 4417
* Prices corrected from their one year high in the last session as industry data showed US crude inventories unexpectedly rose last week as a deep freeze in the southern states curbed demand from refineries that were forced to shut
* Therefore, we expect crude prices to correct from current levels towards | 4300 level in the short-term
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
