The Gold have good support at 51500-51550 levels - Swastika Investmart
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DAILY COMMODITY MARKET UPDATES
NEWS IN HEADLINE
* Oil inventories rise by more than expected 5.6M barrels last week: API
* Gold rallies above $1,700 as dollar weakens amid election jitters
* Oil down 3% despite weak dollar; U.S. inventories awaited
CHART OF THE DAY:
GOLD: GOLD formed a Large-bodied bullish candle on the daily charts as the closing was higher than the opening levels. The Gold have good support at 51500-51550 levels, while 51800 act as a immediate resistance if it breaks 51800 than 52000-52100 can be seen.
OUTLOOK:
* Bullion: Day trend is indicating to Uptrend in Gold &Silver.
* Energy: Day trend is indicating Downtrend in Crude oil & Natural gas
* Base metals: Day trend is indicating Sideways in all base metals.
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