Oil Tumbles

Crude Oil Pares Rally Amid Signals of Expanding American Crude Surplus

Gold Silver Reports (GSR) – Crude Oil Pares Rally Amid Signals of Expanding American Crude Surplus — Futures closed 0.3 percent higher in New York on Thursday, wiping away most of the gains made during the session. Data provider Genscape Inc. was said to report inventories at the key pipeline hub in Cushing, Oklahoma, expanded, taking the wind out of a rally earlier driven by an unexpected Arab Light crude price increase by Saudi Arabia, the world’s biggest oil exporter.

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Silver price today: Silver Rises

MCX Silver Under Fresh Selling Trading Zone Between 37600—39300

Gold Silver Reports (GSR) – MCX Silver Under Fresh Selling Trading Zone Between 37600—39200 – Silver on MCX settled up 1.85% at 39030 boosted by the softer dollar and in escalation in trade tensions between the U.S. and China, which underpinned safe haven demand. Renewed safe-haven demand comes amid investor concerns over escalating US-China trade tensions after Beijing unveiled retaliatory tariffs on Monday overnight.

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MCX Silver Buy on Dips Expected Trading Zone 37333—38888, Goldman Neal Bhai Reports

Gold Silver Reports – MCX Silver Buy on Dips Expected Trading Zone 37333—38888 — Silver on MCX settled down -1.24% at 37963 as the dollar continued to advance amid a sharp uptick in Treasury yields. Much of the dollar’s advance stemmed from euro’s weakness in the wake of reports that the leader of Germany’s Social Democrats (SPD), Martin Schulz, would not be taking over as finance minister for Europe’s biggest economy .

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MCX Silver Down Support at 46385 By Neal Bhai

MCX Silver Down Support at 46385 By Neal Bhai

Gold Silver Reports — MCX Silver settled down -0.23% at 47167 as risk averse sentiment cooled expectations of easing monetary policies across the globe. Shares edged slightly lower as a downturn in crude oil curbed the enthusiasm from fresh record highs on Wall Street. While Britain’s shock vote to leave the European Union has led players to raise their bullion price forecasts again this year, after the decision shook up financial markets and sparked a rally in the precious metal to 2-year high.

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