Market Next

GOLD AND CRUDE OUTLOOK: 25-09-2017

GOLD AND CRUDE OUTLOOK: 25-09-2017
September 26
02:09 2017

Gold

Gold’s outlook remains subdued despite geo-political tensions.  Expectation of interest rate hike by 1.25% to 1.5% by the year end was the key reason for the price correction.  More than 70% of the traders in US are expecting rate hikes very soon by the Fed.  Gold has support at $1275 and $1272 per troy ounce and has resistances at $1300 and $1316.  Due to high geo-political tension volatility of gold can increase substantially in the days to come.

Crude

Crude outlook is still slightly positive and it is likely to test $51.43 per barrel and it has supports at $49.81 and $48.58 per barrel.  Concerns of closing down of US rigs are the key reason for the price rise.

 

About Author

ALEX MATHEWS

ALEX MATHEWS

Related Articles