Gold Silver Reports — Technically market is getting support at 3135 and below same could see a test of 3110 level, And resistance is now likely to be seen at 3190, a move above could see prices testing 3224.
Crude Forecast
CRUDE OIL FUTURES POSTS THIRD STRAIGHT WEEKLY LOSS
Gold Silver Reports — Crude oil futures edged higher Friday, but posted a third straight weekly loss amid further signs of robust U.S. production. Baker Hughes said the number of active U.S. rigs drilling for oil rose by 21 to 652 rigs this week, having surged higher just about every week this winter. U.S. crude oil inventories are already at record highs. The EIA said Wednesday that stockpiles rose another 4.5 million barrels last week.
US is Swimming in Crude Oil
Gold Silver Reports — The United States has got a lot of crude oil on its hands right now. According to data released by the US Energy Information Administration (EIA), stockpiles swelled by a further 4.95 million barrels to 533.1 million barrels.
HEAVY TUMBLE PULLS OIL WELL UNDER $50
Gold Silver Reports — Crude oil futures witnessed a heavy tumble as rising output from the US remained a threat to efforts by other major producers to rebalance the market.