Today’s Live Updates on Gold Market

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Market Outlook
MCX Gold price shows slight bearish bias that hints providing potential of negative trading but after that it took reverse movement and made day high and we expect in next trading session it may touch 31500 levels. MCX Crude oil continues with its bull run and it test 4840 levels. MCX Copper took some correction from higher level but after some down fall it took recovery and test its major resistance level of 464.50 and for upcoming trading session it may continue with bullish movement.

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Fundamental News
Gold jumps on higher Thursday, attempting to halt their latest retreat at three straight sessions, ahead of a release on consumer inflation that could set the near-term course for the dollar and precious metals.
The Organization of the Petroleum Exporting Countries is in no hurry to decide whether to pump more oil to make up for an expected drop in exports from Iran after the imposition of new U.S. sanctions, three sources familiar with the issue said, saying any loss in supply would take time.

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Gold showed sideways to bullish movement and found the major resistance level of 31487. Now if price sustains on higher level then it will test next resistance level of 31564. On other side 31241 will be major support level.

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Silver showed sideways to bullish movement and found the major resistance level of 40500. Now if price sustains on higher level then it will test next resistance level of 40560. On other side 39922 will be major support level.

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Crude oil showed sideways to bearish movement and found the major support level of 4743. Now if price sustains on lower level then it will test next support level of 4680. On other side 4842 will be major resistance level.

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Copper showed sideways to bullish movement and found the major resistance level of 465. Now if price sustains on higher level then it will test next resistance level of 465.70. On other side 456.35 will be major support level. 8

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