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Bullion Outlook

Gold prices opened slightly higher on Friday and rose strongly during most of the session till a high of | 47598

Prices rallied strongly in the last session after a key labourmarket report showed the US economy added fewer jobs than forecast, diminishing the possibility the Federal Reserve will taper stimulus soon

Therefore, we expect gold prices to remain positive towards | 48000 level for the day

Energy Outlook

Crude oil prices started Friday’s trade on a weak note opening lower with a gap and recovered gradually during the first half of the session till a high of | 5151. However, prices did not sustain at higher levels and fell sharply in the remaining session till a low of | 5054

Prices corrected sharply in the last session as a weaker US jobs report painted a gloomy economic picture amid surging delta variant cases

Hence, we expect crude prices to correct further towards | 5000 level for the day

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