Market Next

GOLD AND CRUDE OUTLOOK: 17-10-2016

GOLD AND CRUDE OUTLOOK: 17-10-2016
October 16
17:42 2016

GOLD 

Gold is weak due to strong dollar, ongoing technical correction on gold will come to an end by end of December 2016, and it can test new highs.  Gold has support at $1247 and $1221 per troy ounce.  Gold has support at $1264 and $1274.  The demand for gold will pick up by the end of November.  Ongoing currency volatility also can support the gold.

CRUDE

Crude is looking very strong and it is likely to move up towards $ 51.60 and $52.99 per barrel.  Minor correction is also expected due to overbought situation and strong dollar.  Crude will remain firm till   OPEC meeting is over.

About Author

ALEX MATHEWS

ALEX MATHEWS

Related Articles