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Bullion Outlook

• Gold prices started Friday’s trade on a flat note and consolidated during the whole session in the range of | 45850- 46250 levels

• Prices recouped some losses on Friday after a drop of nearly 3% in the previous session but a firm dollar kept bullion on course for a second weekly decline with the focus still on this week’s Federal Reserve meeting

• Therefore, we expect gold prices to remain subdued in the range of | 45800-46200 levels for the day

Energy Outlook

• Crude oil prices opened lower with a gap on Friday and fell further during most of the session till a low of  5240

• Prices corrected in the last session as gulf coast crude oil exports started flowing again after hurricanes Nicholas and Ida took out 26 million barrels of offshore production

• Hence, we expect crude prices to correct further towards  5200 level for the day

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