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GOLD AND CRUDE OUTLOOK:05-12-2016

GOLD AND CRUDE OUTLOOK:05-12-2016
December 04
18:51 2016

GOLD

Gold prices are looking weak due to strong dollar and lower demand.  Last week it made a 10 month low but bounced back after OPEC decided to curb oil production to support the price.  Higher crude price will lift inflationary trends and which could put pressure on US dollar.  Gold has support at $1160 and $1148 per troy ounce.  Gold has resistances at $1192 and $1200 in the medium term.

CRUDE

Crude is looking strong after OPEC decision to cut oil production to keep the prices firm.  Crude has support at $49.86 and resistances at $ 52.63 and $55 in the medium term if the current scenario continuous to remain the same.

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ALEX MATHEWS

ALEX MATHEWS

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