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GOLD AND CRUDE OUTLOOK: 04-07-2016

GOLD AND CRUDE OUTLOOK: 04-07-2016
July 04
08:30 2016

Crude moved back towards $48 per barrel after testing $45.77, due to lower output from existing wells and reduced drilling which in turn can lift the sentiments positively. Crude has immediate resistance at $51.33 per barrel

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Gold is still looking very positive and many analysts revised their earlier estimates towards $ 1500 from $1400 per troy ounce. Last week both gold and silver has risen substantially due to higher demand partly because of uncertainty over Brexit and currency volatility. If currency market volatility increases then investors will park their money in safe heaven gold.

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ALEX MATHEWS

ALEX MATHEWS

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