The precious metal quickly reversed an early dip to multi-day lows and rallied back above the key $1500 psychological mark in reaction to the US decision to blacklist eight Chinese companies over the treatment of Muslim minorities in the western province of Xinjiang.
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Brent Crude Long Term Target $60—$70/bbl Within the Next Year
“Amidst the higher trade tariffs, we can expect China’s GDP to drop below 6% next year. Concurrently, both Germany and Japan may suffer technical recessions across the turn of the year. As for the US economy, we can expect growth to ease from 2.5% this year to about 1.3% next year. Overall, this global synchronized slowdown will reduce crude oil demand and likely weigh on energy prices”.
MCX Gold futures prices Rose as Much As 1.3%, or About ₹500 – Gold Silver Reports
Gold prices in India rose sharply today amid a rebound in the rates of the yellow metal in global markets. On MCX, gold futures prices rose as much as 1.3%, or about ₹500, to ₹38,386 per 10 gram. Tracking gold, silver also jumped, with prices jumping 2% or ₹1,100 to ₹45,944 per kg. Gold prices in India have remained choppy over past few weeks since hitting record highs early last month, reflecting similar trend in global markets.
MCX Copper Tips Today – Copper Selling Call Rocking 440—432.70 – Loot Lo Dabbe Wale Ko – Neal Bhai Reports
MCX Copper Tips Today – Copper Selling Call Rocking
Watch MCX Copper Price 440—432.70 – Loot Lo Dabbe Wale Ko
MCX Mentha Oil Day Trading Zone 1200—1260 – Neal Bhai Reports
MCX Mentha Oil settled down by 1.03% at 1241 as there has been an increase in the arrival of mentha. Pressure also seen after the Bihar state government has completely banned all types of pan masala. Currently, this ban has been imposed for 12 months.
Precious Metals Up: All eyes on the Fed and Nonfarm Payrolls – Gold Silver Reports
The focus is now on the US Dollar. Will it be able to hold up in worsening domestic economic conditions?
This week’s Nonfarm Payrolls will be the key following an eye-catching fall in the ISM Manufacturing which slipped deeper into contractionary levels in September. A strong Dollar is feeding through and hurting the US manufacturers, according to Donald Trump, “As I predicted, Jay Powell and the Federal Reserve have allowed the Dollar to get so strong, especially relative to ALL other currencies, that our manufacturers are being negatively affected.
Gold Below $1,513 Target 1,440 — 1,412 — 1,395 – Economy Slowdown Fears Support Yellow Metal
Gold prices Down on Wednesday as investors booked profits after the metal rose as much as 1 per cent in the previous session on signs of an economic slowdown in the United States, with focus shifting to US jobs data due later this week.