MCX Gold Trend
Gold is likely to recover from its lowest level in more than five months, helped by a weaker dollar, which enhances the appeal of the yellow metal as an alternative investment. Gold prices regained lost ground and finished moderately higher, however silver prices remained under pressure, ending in red. Soft US economic data underpinned the buying sentiment in the yellow metal. In this regard, US factory order rose 1.8%, well below the expectations of 2.2% rise. Excluding defense, factory orders rose at a negligible rate of 0.3%. MCX Gold future contract is expected to remain positive on chart, traders are advised to buy and Intraday resistance is seen near 30778, 30921 & 31101 . Intraday support is seen near 30599, 30455 & 30276
MCX Gold Tips : Gold is suggested to buy on current level for the target of 30900 today.
Crude Oil Trend For Today:
Crude Oil price fell in its last trading session on MCX due to the Iranians are considering direct talks with the US. And today also it starts flat. In addition, group of western nations will likely be meeting with Iran in Kazakhstan at the end of the month to resume nuclear deliberations. A strong dollar makes oil more expensive for buyers in other currencies, which often weighs on crude prices. The dollar’s gains Monday offered oil investors an excuse to lock in recent gains. Although today MCX Crude oil is looking weak due to weaker dollar trend in currency. For Today Crude Oil Tips is to Sell on Higher levels.