Bullion closed lower yesterday as haven assets took a hit in the wake of news that the FBI said it won’t bring charges against Hillary Clinton over a batch of newly discovered emails. Gold had been gaining last week on some expectations that a Trump victory could trigger volatility and put a U.S. interest-rate hike on hold. Base metals were up with strong global cues. Crude oil closed higher finding support as an earthquake late Sunday at the Cushing, Okla storage hub raised worries about oil supplies and expectations for a win by Hillary Clinton fueled bets on a slowdown in U.S. drilling for crude. Crude may trade higher today.
Gold prices fell on Monday in Asia as investors gained clarity on the U.S. presidential election and noted the growing likelihood of a U.S. rate hike in December.
Oil prices were mixed on Monday, supported by easing concerns over the economy after news that U.S. presidential candidate Hillary Clinton will not face charges over her emails, but prices were pressured by a rallying dollar and doubts over OPEC’s planned production cuts.
Gold showed sideways movement and found the important support level of 30350. Now if it will close above the important resistance level of 30700 then 31000 will act as next resistance level. On lower side 30200 will act as vital support level.
Silver showed sideways movement and found the important support level of 43000. Now if it will close above the important resistance level of 43700 then 44300 will act as next resistance level. On lower side
42500 will act as vital support level.
Crude showed bearish movement and found the important support of 2950. Now if it will break the next support level of 2900 then 2850 will act as next key support level. On the other hand 3000 will act as a
major resistance level, if it breaks the prices could visit 3100 level.
Copper showed bullish movement and found the important resistance level of 342. Now if it will break the resistance level of 342 then 348 will act as next support level. On the other hand 336 will act as a major support level.
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