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GOLD AND CRUDE OUTLOOK: 10-10-2016

GOLD AND CRUDE OUTLOOK: 10-10-2016
October 09
17:49 2016

GOLD

Gold lost its key supports after speculation that US Federal Reserve may increase interest rate by early December, in its policy meet.  Gold has support at $1232 and $1199 per troy ounce; on the other hand resistance will be at $1273 per troy ounce. In the Asian Market gold prices remained strong after weakness in pound.  There are growing concerns in UK over the terms of a break from the European Union by March 2017.

CRUDE

Crude oil prices are firm after a possible output cut by the OPEC members to keep the prices steady.  Crude has resistance at $50.98 and having support at $49.28 and $48.13.

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ALEX MATHEWS

ALEX MATHEWS

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