Gold fell on profit-taking ahead of the Non-farm payrolls data even as markets await the US election outcome next week. Base Metals were trading higher as a softer U.S. dollar cushioned prices. China’s services sector grew at strongest pace as new business picked up encouraging companies to hire more workers. Crude oil prices closed lower after government data showed a record rise in crude inventories. The huge weekly rise in crude supplies was likely tied to oil transport and reporting delays due to the hurricane and tropical storms last month.
Gold prices eased at the domestic bullion market here today on lower off take from stockists and traders as well as subdued local buying interest despite positive global cues. Silver dropped on speculative profit-booking after its recent rally on the back of reduced industrial buying fizzled out.
Oil prices resumed their slide on Thursday, hitting a new a fiveweek low after U.S. crude stocks data compounded doubts that a glut in global oil supplies could be eroded.
Gold showed bearish movement and found the important support level of 30200. Now if it will close above the important resistance level of 30700 then 31000 will act as next resistance level. On lower side 30200 will act as vital support level.
Silver showed bearish movement and found the important support level of 42650. Now if it will close above the important resistance level of 43500 then 44000 will act as next resistance level. On lower side 42500 will act as vital support level.
Crude showed bearish movement and found the important support of 2965. Now if it will break the next support level of 2950 then 2900 will act as next keysupport level. On the other hand 3050 will act as a major resistance level, if it breaks the prices could visit 3100 level.
Copper showed bullish movement and found the important resistance level of 332.50. Now if it will break the support level of 333 then 337 will act as next support level. On the other hand 328 will act as a major resistance level
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