Gold Silver Reports ~ Federal Reserve Chair Janet Yellen acknowledged weaknesses in the global economy in prepared testimony to Congress on Wednesday, but indicated that rates could still rise this year, albeit at a slower pace.
NCDEX Jeera Positive, Support at 14760 Levels
NCDEX Jeera Positive, Support at 14760 Levels
Crude Oil Trade Positive, 1850-2000 Day Range
Gold Silver Reports ~ Crude oil may trade with positive bias as EIA inventory data to give further direction to the prices. Overall it can move in range of 1850- 2000.
Janet Yellen; Fed Rate Hikes In Congress
Gold Silver Reports ~ Federal Reserve Chair Yellen will defend the U.S. central bank’s 1st rate hike in a decade and likely insist that further rises this year remain on track, albeit at a slower pace, when she addresses Congress on Wednesday.
Crude Oil Dumps; Major Indexes Seesaw
Gold Silver Reports ~ Today was repeat of yesterday’s session in that markets sold off most of the day but managed a better recovery during the last hour by closing only slightly below the unchanged line. Apparently the bulls are still alive and putting up a fight during these tug-of-war sessions.
Crude Oil Slip 8 Percent, Global Demand Reports
Gold Silver Reports ~ Crude Oil prices slid for a fourth straight session on Tuesday and teetered close to 12-1/2-year lows hit last month, after weak demand forecasts from the U.S. government and the western world’s energy watchdog, while weak equities also pressured prices.
Gold Near Eight Month High on Safe Haven Demand
Gold Silver Reports ~ Gold was holding near 8~month high on Wednesday as risk aversion sent investors to the safe-haven asset amid a tumble in global stock markets and concerns over the global economy.