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GOLD AND CRUDE OUTLOOK: 05-03-2017

GOLD AND CRUDE OUTLOOK: 05-03-2017
March 05
17:15 2017

Crude is weak due to higher inventory in US and rate hike fears.  The commodity has support at $52.21 per barrel despite the OPEC and other oil producing countries decision to curb output for price stability.   The commodity has resistances at $54.55 per barrel and $55.00.

Gold is also looking weak on charts due to lower demand and concerns of a possible rate hike in early March this year.  The precious commodity has support at $ 1217.86 and $1200 per troy ounce.   Gold has resistance at $1237.99and $1246 per barrel.

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ALEX MATHEWS

ALEX MATHEWS

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