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GOLD AND CRUDE: 23-01-2017

GOLD AND CRUDE: 23-01-2017
January 22
17:43 2017

GOLD

Gold is positive and it is likely to test $1228.75 and having support at $ 1194 per troy ounce. BREXIT and U.S President’s speech raising concerns of a trade war with world’s largest exporters kept the gold prices at the upper trajectories. Price checks can also happen if there is a possible rate hike in US by the Federal Reserve. Sell-off can be utilized to buy the yellow metal in the near term.

CRUDE

Crude on Friday recovered smartly ahead of the OPEC and its NON OPEC member’s decision to cut the oil production by 1.8 million barrels per day. But market is worried about higher inventories in US.

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ALEX MATHEWS

ALEX MATHEWS

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