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Get Profitable Gold Tips and News

Market Outlook

Gold prices edge higher on Wednesday, but stayed near the lowest level in around five weeks as investors worried about future Federal Reserve rate hikes. The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion. Oil fell to seven-month lows on Wednesday, set for its largest price slide in the first half of any year for the past two decades, as investors discounted evidence of strong compliance by OPEC and non-OPEC producers with a deal to cut global output. Data from the American Petroleum Institute on Tuesday showed U.S. crude stockpiles last week had dropped more than forecast.

Fundamental News

The remarks echoed similar comments made by Fed Chair Janet Yellen in last week’s press conference after the central bank hiked rates for the second time this year and maintained plans to go ahead with another rate hike by year-end.

Compliance with an agreement by the Organization of the Petroleum Exporting Countries and other producers to cut output by 1.8 million barrels per day from January reached its highest in May since the curbs were agreed last year.

Gold showed sideways to bearish movement and found the important support level of 28448. Now if it will close below the important support level of 28400 then 28150 will act as next support level. On the other hand 29000 will act as a major resistance level.

Silver showed bearish movement and found the important support level of 37811. Now if it will close below the important support level of 37800 then 37500 will act as next support level. On the other hand 39000 will act as a major resistance level.

Crude showed bearish movement and found the important support level of 2735. Now if it will close below the important support level of 2700 then 2650 will act as next support level. On the other hand 2850 will act as a major resistance level.

Copper showed bullish movement and found the important resistance level of 372.10. Now if it will close above the important resistance level of 373 then 380 will act as next resistance level. On the other hand 358 will act as a major support level.

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NCDEX Tips for Long Term Investment

Guarseed showed bearish movement and found the important support level of 3300. If prices sustains below 3300 level in next trading session then this momentum can take prices to 3250 level. If it breaks the resistance level of 3370 then 3420 will act as next resistance level.

Jeera showed bearish movement today and found the support level of 18400. If prices sustain below 18400 levels in next trading session then this momentum can take prices to 18200 levels. If it breaks the resistance level of 18700 then 19000 will act as next resistance level.

Soyabean showed sideways movement and found the important support level of 2810. If prices sustain below 2800 level in next trading session then this bearish momentum can take prices to 2760 level. If it breaks the resistance level of 2850 then 2890 will act as next resistance level.

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Best Way For Stock Market Trading

Market Snippet
Benchmark indices consolidated after opening lower and ended flat investors waited for minutes of a policy meet by the central bank to gauge the direction of interest rates in the months ahead. On the global front muted trend seen in Asian markets following a renewed slump in oil prices to seven-month lows, also impacted the sentiment. Nifty closed at 9657.60. Realty stocks were the major gainers of the day while Metal stocks were the major losers of the day.

Global Markets Update
Major U.S. corporations such as Wal-Mart Stores Inc and General Motors Co have become some of America’s biggest buyers of renewable energy, driving growth in an industry seen as key to helping the United States cut carbon emissions.
Weakness among financial and retail stocks sent European shares sliding again on Wednesday, as Provident Financial fell sharply after a profit warning.

Nifty

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Today’s Profitable Silver Market News

 

Market Outlook

Gold prices edged higher on Wednesday, as investors looked ahead to the outcome of the Federal Reserve’s two-day policy meeting, at which it is expected to deliver an interest rate hike. Oil prices fell on Wednesday after industry data showed a build in U.S. crude stocks and OPEC reported a rise in its production despite a pledge to cut output. The base metals remain in a ‘glass-half-empty’ mood; copper prices seem to be the ones trying to shake off their gloom while the others continue to drift with any effort to look brighter being short-lived.

Fundamental News

Gold futures traded in a narrow range, as investors held off initiating large positions in the precious metal ahead of the start of the Federal Reserve’s June meeting, which concludes on Wednesday, with the majority of traders expecting an interest rate hike.

Crude prices have fallen more than 10 percent since late May, pulled down by heavy global oversupply that has persisted despite a move led by the Organization of the Petroleum Exporting Countries to curb production.

Gold showed bullish movement and found the important resistance level of 29087. Now if it will close above the important resistance level of 29100 then 29500 will act as next resistance level. On the other hand 28800 will act as a major support level.

Silver showed bullish movement and found the important resistance level of 39821. Now if it will close above the important resistance level of 40000 then 40500 will act as next resistance level. On the other hand 38800 will act as a major support level.

Crude showed bearish movement and found the important support level of 2863. Now if it will close below the important support level of 2850 then 2800 will act as next support level. On the other hand 3000 will act as a major resistance level.

Crude showed bearish movement and found the important support level of 2863. Now if it will close below the important support level of 2850 then 2800 will act as next support level. On the other hand 3000 will act as a major resistance level.

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Latest News on NCDEX Trading Market

Guarseed showed bullish movement and found the important resistance level of 3490. If prices sustains below 3400 level in next trading session then this momentum can take prices to 3300 level. If it breaks the resistance level of 3500 then 3550 will act as next resistance level.

Jeera showed bullish movement today and found the resistance level of 18700. If prices sustain below 18400 levels in next trading session then this momentum can take prices to 18200 levels. If it breaks the resistance level of 18700 then 19000 will act as next resistance level.

Soyabean showed bullish movement and found the important resistance level of 2840. If prices sustain below 2810 level in next trading session then this bearish momentum can take prices to 2780 level. If it breaks the resistance level of 2850 then 2890 will act as next resistance level.

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