Market Next

GOLD AND CRUDE OUTLOOK: 28-08-2017

GOLD AND CRUDE OUTLOOK: 28-08-2017
August 28
02:17 2017

Gold is still positive and has immediate resistances at $1305 and $1310 per troy ounce.  It has support at $1283 and $1274 per troy ounce. Gold showed minor uptrend after Yellen Speech, but demand is muted due to high price.  Market participants are also waiting for the impact of Jackson Hole comments on monetary policy in US.

Crude is weak and we can say it is likely to get consolidation at around $46.64 to $50.39.   After the consolidation we can expect break-out towards $53.40 per barrel.  Market participants are closely monitoring hurricane Harvey and its impacts on oil refineries and rigs in US.

About Author

ALEX MATHEWS

ALEX MATHEWS

Related Articles