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GOLD AND CRUDE OUTLOOK: 05-06-2017

GOLD AND CRUDE OUTLOOK: 05-06-2017
June 04
16:23 2017

GOLD

Gold recovered after unexpected dip in U.S. job growth, concerns about the shape of the U.S. economy fuelled which kept the gold demand higher.  Gold is bought when the economy goes through a tough time and uncertainty.  U.S. economy added nearly 1, 38,000 jobs in May against the estimation of 1, 85,000 new jobs.  Gold may climb towards $1283 and $1300.  It has support at $1256.

CRUDE

Crude is weak after U.S. decision to withdraw from Paris Climate pact which could spark more crude oil drilling in U.S.  Countries like Saudi and Russia is planning to curb oil production further could not help the price of crude oil.  Crude has support at $45.97 and having resistance at $51.30

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ALEX MATHEWS

ALEX MATHEWS

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