Market Next

GOLD AND CRUDE OUTLOOK: 26-09-2016

GOLD AND CRUDE OUTLOOK: 26-09-2016
September 25
18:52 2016

GOLD

Federal Reserve’s decision to keep the interest rate unchanged helped the gold prices to recover, and Federal Reserve projected a less aggressive rise in interest rates next and in 2018.  God has strong support at $1328 and resistance at $1345; if the yellow metal moves above this level then we can expect further uptrend.

CRUDE

OPEC and non OPEC members agrees to meet at the end of the week of September.  It members are expecting Saudis offer to reduce production if Iran agrees to cut its own output this year lifted the commodity prices.  The latest US inventory data fell by 6.2 million barrels last week.  Traders and investors were expected an inventory increase of 3.35 million barrels.  Crude is likely to remain sideways with resistances at $46.34 and $47.21

About Author

ALEX MATHEWS

ALEX MATHEWS

Related Articles