Gold remained volatile throughout the day - ICICI Direct
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Bullion Outlook
* Post a flat opening, gold remained volatile throughout the day
* Offering some respite to gold, US Treasury yields dipped, with the market appearing to stabilise after benchmark yields reached one-year highs last week
* Hence, we expect gold prices to consolidate in the range of | 44500-45300 levels in the short-term
Energy Outlook
* Crude oil prices started Thursday’s trade on a flat note and fell sharply during most of the session till a low of | 4200
* Worries about demand due to new pandemic restrictions in Europe countered supply concerns that had lifted prices a day earlier when a container ship blocked the Suez Canal
* Therefore, we expect crude prices to consolidate in the range of | 4100-4400 level in the short-term
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