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GOLD AND CRUDE OUTLOOK: 30-01-2017

GOLD AND CRUDE OUTLOOK: 30-01-2017
January 29
17:00 2017

Gold remained weak due to strong dollar ahead of the GDP numbers which came later on the last Friday.  Gold has immediate resistances at $1194 and $1210.  Prices may bounce back to these levels very soon because of the below expected GDP growth rates, which may cause weakness to dollar. Gold has support at $1176.78 and $1163.

Crude is likely to remain in a tight range with key support at $52.56 and resistance at $54.07 per barrel.  It remained subdued due to US rig count data.  Crude is likely to continue to trade in a narrow rage next week.

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ALEX MATHEWS

ALEX MATHEWS

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