Today’s Gold & Silver Market Profitable Updates

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Market Outlook

Gold prices struggled near a six-week low during European morning hours on Tuesday, as investors prepared for a rate hike by the Federal Reserve while focusing on political developments in Europe.  Crude oil prices hovered near three-month lows on Tuesday, with investors waiting for key reports and data that may shed light on a supply overhang in the global market. The dollar inched up against a basket of currencies on Tuesday as U.S. Treasury yields extended their rise ahead of an expected interest rate rise by the Federal Reserve.

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Fundamental News

The Fed is scheduled to conclude its two-day policy meeting on Wednesday, with most market participants expecting the U.S. central bank to raise the fed funds target range by a quarter points, which would put it in a range between 0.75%-1%.

The British government won final approval from parliament on   Monday for legislation giving Prime Minister Theresa May the power to trigger the country’s exit from the European Union.

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Gold showed bearish movement and found the important support level of 28050. Now if it will sustain below the important support level of 28000 then 27800 will act as next support level. On the other hand 28300 will act as a major resistance level.

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Silver showed sideways movement and found the important support level of 40000. Now if it will sustain below 40000 then 38500 will act as next support level. On the other hand 40500 will act as a major resistance level.

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Crude showed sideways to bearish movement and found the important support level of 3100. Now if it will close below the important resistance level of 3100 then 2900 will act as next resistance level. On the other hand 3200 will act as a major support level.

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Copper showed sideways to bearish movement and found the important support level of 378. Now if it will close below the important support level of 378 then 370 will act as next support level. On the other hand 388 will act as a major resistance level.

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