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TODAYS GOLD MARKET NEWS & UPDATES

Market Outlook
Gold price faced strong negative pressure on yesterday’s evening to settle at 30295 level, some corrections are expected in bullish side. We need to get clearer signal for the next trend, which we will get through breaking 30250 support or breaching 30650 resistance. Crude oil price fell under strong negative pressure yesterday to test the key support 4080,today we have to expect some corrections in upside. Copper price provides intraday negative pressures yesterday, by copper providing negative momentum, due to its stability below 450 level confirms delaying the bullish rally, to expect more of the sideways trading by the price confinement between the initial support and 355 resistance level.

Fundamental News
Gold prices eased off a two-and-a-half week low on Wednesday, as markets took a breather after comments by Federal Reserve Chair Jerome Powell in the previous session weighed heavily on the precious metal.

Crude oil prices slipped lower on Wednesday, as news of a rise in U.S. stockpiles dented optimism surrounding global efforts to limit output.

Gold showed sideways to bearish movement and found the major support level of 30050. Now if price sustains on lower level then it will test next support level of 29850. On other side 30500 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 38000. Now if price sustains on lower level then it will test next support level of 37500. On other side 38850 will be major resistance level.

Crude oil showed sideways to bearish movement and found the major support level of 4010. Now if price sustains on lower level then it will test next support level of 3960. On other side 4172 will be major resistance level.

Copper showed sideways to bearish movement and found the major support level of 445. Now if price sustains on lower level then it will test next support level of 441. On other side 457 will be major resistance level.

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