MONSOON UPDATE For Indian Market

Gold Silver Reports – (GSR) – MONSOON UPDATE For Indian Market – Conditions are becoming favourable for pre-monsoon thunderstorm activity over parts of northwest India from June 27, IMD’s Additional Director General Mritunjay Mohapatra said. Central India and the north Indian plains, that have been witnessing a rise in temperatures, are likely to get some relief in the next two to three days.

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Gold Extends Gains on Jeweller Buying, Positive Global Cues

Gold Nudges Up But on Track for Worst Month Since November 2016

Gold Silver Reports (GSR) – Gold Extends Gains on Jeweller Buying, Positive Global Cues – In the national capital, gold of 99.9% and 99.5% purity added ₹15 each to ₹31,600 and ₹31,450 per ten gram, respectively………..It had gained ₹15 yesterday. Sovereign gold, however, remained unaltered at ₹24,800 per piece of 8 gram.

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Gold Price Sell-off Deepens Despite Rising Tariff, Trade War Concerns

Gold Price Sell-off Deepens despite Rising Tariff, Trade War Concerns

Gold Silver Reports (GSR) – Gold Price Sell-off Deepens Despite Rising Tariff, Trade War Concerns – Gold prices posted an outside weekly reversal off resistance off yearly open resistance earlier this month with the subsequent decline now approaching a series of parallels which could offer some near-term support. The region of interest is $1255/60. Keep in mind that weekly momentum has fallen to its lowest levels since January 2017 and further highlights the downside risk for bullion.

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Crude Oil Bounces as OPEC Adopts Underwhelming Production Increase

Crude oil near $71 amid Middle East tensions

Gold Silver Reports (GSR) – Crude Oil jumped the most since late 2016 after OPEC adopted a smaller-than-expected production increase. – Futures advanced 4.6 percent in New York on Friday to close above $68 a barrel for the first time this month. Although the OPEC-led group of 24 major oil producers approved a 1 million barrel boost to daily output, several cartel members said the actual increase will only reach 700,000 because some nations are incapable of pumping more crude.

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OPEC Reaches Deal to Raise Oil Output From July Onward

OPEC Reaches Deal to Raise Oil Output From July Onward – OPEC Is Said to Have Deal in Principle With Iran for Output Hike – West Texas Intermediate (WTI), futures on NYMEX, finds a temporary support near $62.00 during Wednesday’s Asian session after sliding almost 4.40% in last two trading days. The Oil price gets a provisional relief after the OPEC+ denied speculation regarding the announcement of a multi-fold hike in Oil production in its upcoming meeting on Sunday.

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