Gold Silver Reports — Technically MCX Cotton is under short covering as market has witnessed drop in open interest by -2.99% to settled at 5871 while prices up 30 rupees.
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Silver MCX Strong Support Key Between 37300—39700
Gold Silver Reports — Silver on MCX settled down -1.35% at 38052 adding to overnight losses after the Federal Reserve left the door open to raising interest rates in June.
Iran Will Cut Benefits on Oil Sales to Indian State Refiners
Gold Silver Reports ✅ — Iran will cut some benefits to Indian state-run refiners on crude purchases after the South Asian country decided to reduce the amount of oil it buys from the Persian Gulf nation, people with knowledge of the matter said.
Gold Slips A Little Ahead Of Weekend
Gold Silver Reports — Gold slipped a bit as about two month highs triggered some profit selling. However, the recent recovery has enthused Gold bulls and a further uptick from hereon is quite possible. Indian imports are also rebounding, helping lift the sentiments. COMEX Gold is currently down 0.26% at $1247 per ounce. MCX Gold futures backed off from highs near Rs 28950 per 10 gram levels and ended down 0.30% at Rs 28800 levels. Further losses are possible if the counter drags under Rs 28700 mark today.
Silver MCX Strong Resistance Level at 41333
Gold Silver Reports — Technically market is under short covering as market has witnessed drop in open interest by 1.39% to settled at 13655 while prices up 311 rupees.