Today’s Commodity Market Trend and Profitable Updates

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Market Outlook

Gold prices were slightly lower on Monday, as recent actions by U.S. President Donald Trump helped soothe investor worries about uncertainty surrounding the new administration’s controversial policies. Prices of the yellow metal rallied to a three-month high of $1,246.60 last week amid growing concerns over political risks in Europe and economic uncertainty in the U.S. Oil prices dipped on Monday on signs that global fuel markets remained bloated despite OPEC-led crude production cuts that have been more successful than most initially expected.

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Fundamental News

Gold prices steadied on Friday, but remained below the week’s three-month highs as the dollar pared back some of the gains made in the wake of U.S. President Donald Trump’s promise of a major tax announcement.

Oil prices rose on Friday after reports that OPEC members delivered more than 90 percent of the output cuts they pledged in a landmark deal that took effect in January.

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Gold showed bearish movement and found the important support 1evel of 28940. Now if it will maintain above the important resistance level of 29300 then 29500 will act as next resistance level. On the other hand 28900 will act as a major support level.

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Silver showed bearish movement and found the important resistance level of 42731. Now if it will maintain above 42750 then 43300 will act as next resistance level. On the other hand 42200 will act as a major support level.

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Crude showed sideways to bearish movement and found the important resistance level of 3600. Now if it will close above the important resistance level of 3625 then 3700 will act as next resistance level. On the other hand 3520 will act as a major support level.

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Copper showed bullish movement and found the important resistance level of 4150. Now if it will close below the important support level of 408 then 402 will act as next support level. On the other hand 415 will act as a major resistance level.

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