Gold
Last week, spot gold prices rose by 2.2 percent to
close at $1303.8 per ounce on account of weak dollar and uncertainty about the
outcome of a tight U.S. presidential race.
Commodity Tips On the MCX, gold prices rose by 2 percent to close at
Rs.30557 per 10 gms.
Gold gained as investors weighed the need for a haven before
American presidential election against expectations of higher U.S. interest
rates
Silver
Spot silver prices rose by 2.9 percent last week to
close at $18.4 per ounce in line with rise in gold prices and weak dollar.
On the MCX, silver prices rose by 2.3 percent to close at
Rs.43398 per kg.
Silver steadied as jitters over U.S. election offset a solid
payrolls report that shored up expectations for a U.S. interest rate.
MCX Gold-Silver Outlook
On an intraday basis, we expect gold silver prices
to trade volatile on account of uncertain environment with regards to the US
presidential race. Besides, the FED has also kept the rates unchanged in its
recent meeting creating further uncertainty about the timing of the rate hike.
Meanwhile, the NFP data has missed market expectations with a number of 161000
clouding further uncertainty.
Free MCX Tips On the MCX, gold prices are expected to trade volatile,
international markets are trading lower by 1 percent at $1291 per ounce.
Crude Oil
WTI oil prices declined by 9.5 percent last week
to close at $44.1 per barrel as investors reeled from a record weekly surge in
U.S. crude inventories, and remained skeptical about whether OPEC can actually
implement its planned output cap.
On the MCX, oil prices declined by 10.4 percent last week to
close at Rs.2940 per barrel.
Free Commodity Tips Crude oil dropped as signs of tensions resurfaced between
Saudi Arabia and Iran that could scupper a key supply cut pact.
Crude Oil Outlook
Oil prices have been falling for whole of last week
to levels reached in October after the preliminary agreement by OPEC to cap
production, reached at a meeting in Algiers. OPEC has not made clear how much
each member should cut, and several have been resistant.
On the MCX, oil prices are expected to trade higher today,
international markets are trading higher by 1.09 percent at $44.55 per barrel.
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