Commodity News – Real-time Accurate MCX Commodity Market News and forecast for today. Best commodity market online tips through whatsapp and telegram by Neal Bhai.
Gold Silver Reports — Gold held the first advance in 10 days as investors looked to the release of U.S. data this week including monthly payrolls that’ll shape the thinking of Federal Reserve policy makers on whether to raise interest rates in the months ahead.
Gold (XAU/USD) pulled back from record highs a handful of dollars below $,4,900, following US President Trump’s softer tone at the Davos Forum, but the precious metal remains steady above $4,800, which shows that demand for safe assets remains steady.
Gold Silver Reports — The dollar is making its impact felt on gold. The metal traded in near-perfect opposition to the currency, with the 30-day historical correlation reaching negative 0.78 on May 20.
Gold Silver Reports — Copper may move in the range of 308-316. Lead can hover in the range of 113.50-115 while zinc can move in the range of 125 -129. Nickel may move in the range of 555-580 in MCX. Aluminum can move in the range of 103-106 in MCX.
Gold Silver Reports — Crude Oil MCX may continue its bullish momentum as it can test 3420 in MCX .Meanwhile OPEC meeting this week on 2 June will give further direction to the prices.
Gold Silver Reports — Heavy rains have hit the copper output in Chile, the world’s top producer. Output in April has dropped as heavy rains hit some mines in the country’s central regions and ore grades are also declining, according to the Government.
Gold Silver Reports — Gold’s on the ropes. Bullion broke below $1,200 an ounce on Monday after losing more than $100 in less than a month as Federal Reserve policy makers land punch after punch by talking up the prospects for a U.S. interest rate rise, reinvigorating the dollar.