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GOLD AND CRUDE OUTLOOK: 14-11-2016

GOLD AND CRUDE OUTLOOK: 14-11-2016
November 14
03:03 2016

GOLD

Gold corrected after the strong rally on dollar, it has strong support at $1243 and $1234.  Major resistances for gold are at $1273 and $1302.  Volatility in the global equity markets will spur volatility in the gold market too.

CRUDE

Crude is weak due to higher out- put and lower demand.  Crude has support at $42.94 and $42.14.  Long term indicators are all suggesting further weakness to continue.  OPEC on Friday reported increased out -put in October despite its oil out- put reduction.   Many analysts are on the view that even larger surplus on the market in the next year.

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ALEX MATHEWS

ALEX MATHEWS

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