Today’s Gold & Crude Oil Market Trend and Profitable News

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Market Outlook

Gold prices were little changed in European morning trade on Tuesday, holding steady near the prior session’s three-month high as investors sought the perceived safety of the yellow metal amid growing concerns over political risks in Europe and around the globe. Oil steadied on Tuesday after falls the previous session, with markets torn between mixed price indicators that have kept crude range-bound for much of the year. The international benchmark for oil prices, were trading at $55.96 per barrel up 24 cents from the last close.  The dollar Tuesday held on to overnight gains as the euro remained under pressure.

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Fundamental News

The yellow metal amid growing concerns over political risks in Europe and around the globe. Gold for April delivery on the Comex division of the New York Mercantile Exchange tacked on 25 cents or less than 0.1%, to $1,232.45 a troy ounce by 5:30AM ET after rallying $11.30, or almost 1%, a day earlier.

Oil fell on Monday as ample U.S. supplies and excess speculative length outweighed OPEC output curbs and rising tensions between the United States and Iran.

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Gold showed bullish movement and found the important support level of 29350. Now if it will maintain above the important resistance level of 29400 then 29600 will act as next resistance level. On the other hand 29000 will act as a major support level.

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Silver showed bullish movement and found the important resistance level of 42600. Now if it will maintain above 42600 then 43000 will act as next resistance level. On the other hand 42000 will act as a major support level.

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Crude showed bearish movement and found the important support level of 3500. Now if it will close above the important resistance level of 3550 then 3600 will act as next resistance level. On the other hand 3490 will act as a major support level.

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Copper showed bearish movement and found the important support level of 390. Now if it will close below the important support level of 390 then 380 will act as next support level. On the other hand 395 will act as a major resistance level.

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