Gold prices started Friday`s trade on a positive note - ICICI Direct
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Bullion Outlook
* Gold prices started Friday’s trade on a positive note and consolidated during most of the session in the range of | 44800-45100 levels
* Gold's upside looks very limited due to rising yields and buoyant risky assets
* Hence, we expect gold prices to consolidate in the range of | 44400-45300 levels in the short-term
MCX Gold Daily Chart
Energy Outlook
* Crude oil prices opened slightly lower on Friday and recovered gradually during most of the session till a high of | 4474
* Oil prices went largely in one direction, up, as they were driven by Opec+ production cuts and the promise of economic reopening's from Covid-19. However, oil market headwinds related to European Union demand and Iran supply would slow market rebalancing in coming days
* Therefore, we expect crude prices to consolidate in the range of | 4300-4500 level in the short-term
MCX Crude Oil Daily Chart
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