Gold prices started Thursday`s trade on a flat note - ICICI Direct
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Bullion Outlook
Gold prices started Thursday’s trade on a flat note and rose gradually during the first half of the session till a high of | 47208. However, prices did not sustain at higher levels and corrected in the remaining session till a low of | 46900
Prices remained subdued in the last few sessions as investors were largely on the sidelines awaiting the US non-farm payrolls print that is considered crucial for the Federal Reserve’s tapering timeline
Hence, we expect gold prices to trade within the range of | 46900-47300 levels for the day
Energy Outlook
Crude oil prices opened flat on Thursday and rose strongly during most of the session till a high of | 5159 Prices rose strongly in the last session as a US government report showed nationwide crude stockpiles sank by 7.2 million barrels last week to the lowest in almost two years
Therefore, we expect crude prices to remain positive towards | 5200 level for the day
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