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