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Category Archives: Daily Commodity Market Strategy

MCX COMMODITY EVENING NEWS UPDATES – 20 JULY 2017

CRUDE OIL – Oil prices were a bit lower in European trade on Thursday, pausing for breath after rallying to the highest level in around six weeks in the prior session. Oil prices finished higher on Wednesday, after data from the U.S. Energy Information Administration showed a large drop in domestic crude and gasoline supplies. The

MCX COMMODITY MARKET MORNING UPDATES – 20 JULY 2017

SILVER – Silver markets initially fell on Wednesday, but found enough support near the $16.20 level to turn around and break out to the upside. It looks likely that we will continue to reach towards the $16.50 level, an area that will attract a lot of attention. I believe that the market has a bit

MCX COMMODITY EVENING NEWS UPDATES – 19 JULY 2017

GOLD – Gold prices edged lower in European trade on Wednesday, pausing for breath after rallying to the highest level in around three weeks in the prior session. Gold’s gains came as the dollar sank to an 11-month low after a second attempt by Republicans to replace Obamacare failed, delivering a major blow to President Donald Trump’s agenda.

MCX COMMODITY MARKET MORNING UPDATES – 19 JULY 2017

GOLD – Gold prices rallied to a two-week high on Tuesday in reaction to another decline in the U.S. Dollar as investors continued to bet against an imminent rate hike by the U.S. Federal Reserve. Expectations of stronger demand from the physical market also helped boost prices. August Comex Gold futures closed at $1241.90, up

MCX COMMODITY EVENING NEWS UPDATES – 18 JULY 2017

CRUDE OIL – Oil markets steadied on Tuesday, supported by firm demand but weighed down by high supplies from OPEC and producers in the United States. “We’re stuck in a range that, I think, will be tough to break out of without some kind of political factor coming into play,” said Matt Stanley, fuel broker

MCX COMMODITY MARKET MORNING UPDATES – 18 JULY 2017

SILVER – Silver markets went sideways on Monday initially, but found buying pressure later in the day. We used the $16 level as support, which of course it has been in the past. The question now is whether we can continue to go higher, and it looks likely that we will try. The $16.50 level

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