Gold prices opened slightly higher on Monday and rose further during most of the session - 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 | 47280
* Prices remained supported in the last few sessions as a drop in US consumer sentiment and concerns over the highly contagious delta virus strain stoked demand for the haven asset
* Hence, we expect gold prices to remain positive towards | 47800 level in the short-term
Energy Outlook
* Crude oil prices started Monday’s trade on a weak note opening lower with a gap and fell further during the first half of the session till a low of | 4880. However, prices did not sustain at lower levels and recovered gradually in the remaining session till a high of | 5032
* Overall, prices remained subdued in the last few sessions as the continued spread of the delta Coronavirus variant hurt prospects for global demand
* Therefore, we expect crude prices to remain weak towards | 4900 level in the short-term
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