The yen and other safe-haven currencies were in demand on Monday, along with assets such as gold, as investors fretted that the killing of Iran’s most prominent military commander by the United States could trigger a broader Middle East conflict.
Mcx Commodity Trading Tips
MCX Gold Tips Today – Above 40680 Target 41260—41530, Sell Karna Mana Hai
In global markets, gold prices today surged 1.5% to $1,579.55 per ounce, the highest level in about six years. The gains extended Friday’s surge after a US air strike in Iraq killed top Iranian commander Qassem Soleimani. The killing has heightened concerns of a widening Middle East conflict.
MCX Natural Gas (NG) JACKPOT Tips Buy CMP 157.60 Target Open – Neal Bhai
Natural Gas (NG) surged as weather forecasts turned cooler which could boost heating demand, and on short-covering.
GOLD WORKING ON A BULL-FLAG BREAKOUT
As we are now officially kicking off a holiday week, actually two with New Years coming up, gold is trying to break above an important threshold. Not an ideal time for this to happen, but if it comes with some push then perhaps as the calendar flips to 2020 it will gain meaning.
Gold Smuggling on the Rise as High Prices Boost Appeal in India
Surging gold prices in India are keeping customs officials on their toes. Illegal inflows have jumped after the Indian government increased import taxes in July and prices surged to record highs in September.
Is There More Hurt Ahead for Natural Gas or Can It Heat Up?
Future prices for natural gas “fell to a one-month low on Friday after plunging more than 12% for the week. The commodity Natural Gas is currently trading around $2.34 per million British thermal units, which is nearly 50% below where it traded a year earlier. It’s down 21% for 2019.”
Natural Gas Strong production combined with a much warmer outlook over next couple of weeks puts bears in firm control of the market
Until more convincing cold starts showing up in the models, downside risk will outweigh upside potential.