facebook

Today’s Gold Market News and Highlights

a1

aa1

Market Outlook

Gold prices were little changed in European morning trade on Wednesday, holding near the prior session’s one-week high as market players looked ahead to the outcome of the Federal Reserve’s policy meeting for further clues on the timing of the next rate hike. Gold for April delivery on the Comex division of the New York Mercantile Exchange dipped $1.00, or around 0.1%, to $1,210.35 a troy ounce by after rallying $15.40, or about 1.3%, a day earlier. Oil edged further above $55 a barrel on Wednesday supported by signs that Russia and OPEC producers are delivering on promised supply reductions.

a2

Fundamental News

Prices of the yellow metal rose to a one-week high of $1,217.40 on Tuesday. The Fed is expected to keep interest rates unchanged on Wednesday in its first policy decision since President Donald Trump took office, as policymakers await greater clarity on his economic policies.

Oil edged further above $55 a barrel on Wednesday supported by signs that Russia and OPEC producers are delivering on promised supply reductions, although a report showing a large rise in U.S.

a3 a4

Gold showed bullish movement and found the important resistance level of 28950. Now if it will sustain above the important resistance level of 29000 then 29250 will act as next resistance level. On the other hand 28300 will act as a major support level.

a5

Silver showed bullish movement and found the important resistance level of 42400. Now if it will sustain above 42500 then 43200 will act as next resistance level. On the other hand 41000 will act as a major support level.

a6

Crude showed bullish movement and found the important resistance level of 3660. Now if it will close above the important resistance level of 3700 then 3750 will act as next resistance level. On the other hand 3540 will act as a major support level.

a7

Copper showed bullish movement and found the important resistance level of 408.50. Now if it will close above the important resistance level of 410 then 415 will act as next resistance level. On the other hand 400 will act as a major support level.

a8

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply