Crude Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand.
Neal Bhai
Spot Gold Break $1480, Bears can Target a Deep Retracement back to the $1440 — $1408
Spot Gold Updates : The absence of further escalation, on a break back below the $1480, bears can target a deep retracement back to the $1440—$1408.
Spot Gold Bulls Will Need to Break Above 1,511 – Gold Silver Reports
The Spot Gold bulls will need to break above 1,511, the 2019 high, to travel north towards 1,530.00 and 1,555.00 resistances.
Gold is trading above its main simple moving averages suggesting bullish momentum in the medium term. Support is seen at 1,472.00 and the 1,452.00 levels.
MCX Gold (Oct) Hit New Life Time High of Rs 38,488
Gold prices on Wednesday surged Rs 1,113 to hit an life-time high of Rs 38,488 per 10 gram in the national capital on sustained buying from jewellers amid strong trend overseas as fresh trade tensions between the US and China prompted investors to move towards gold as safe haven asset.
US-China Trade Woes to Keep The Upside Limited – Gold Silver Reports
The black gold attempted a comeback on Tuesday, as markets resorted to profit-taking on their short positions after three back-to-back days of losses. Further, a dramatic turnaround in the risk sentiment, induced by the Yuan recovery, also helped the higher-yielding oil to recover losses.