Gold prices opened slightly higher on Monday - ICICI Direct
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Bullion Outlook
Gold prices opened slightly higher on Monday and rose further during most of the session till a high of | 47625
Prices climbed higher in the last session as the dollar pulled back while lingering fears of possible roadblocks to global economic growth from rising Delta Coronavirus cases worldwide also supported prices
Hence, we expect gold prices to remain positive towards | 47900 level for the day
Energy Outlook
Crude oil prices started Monday’s trade on a positive note opening strongly higher with a gap and rose further during most of the session till a high of | 4907
Prices recovered strongly from their three month low in the last session as a drop in the US dollar provided a boost to the oil markets, making crude less expensive for holders of other currencies
Overall, we expect crude prices to trade within the range of | 4800-4900 levels for the day
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