Todays Trading Tips of Gold Market

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Market Outlook
Gold MCX price in positive trades price in morning session made high around 30345 level, after that positive correction pullback it towards 30450. That will stop the bearish correction scenario. For Crude oil prices we will prefer the bullish trend for today if breaching and holding above level 4210, Zinc price are preparing for new positive trading, zinc price surrendered to the negative pressures yesterday. Trading range for today is between 437 support and 443 resistance.

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Fundamental News

As sentiment on the greenback weakened ahead of the Federal Reserve monetary policy decision due later in the day. Gold prices moved higher on Wednesday.

The agreement was due to end in March 2018, having already been extended once. OPEC agreed in December to cut oil output by 1.8 million bpd until the end of 2018. Crude oil prices were hovering at multi-week highs on Wednesday.

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Gold open near to yesterday’s close and remain bullish for the day made a new high of 30525. On upper level it can face resistance of 30575 and 30687. On downside it has support level of 30360.

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Silver open higher than previous day’s close and remain bullish for the day with a new high of 38825. On upper side it has resistance of 38852 and 39076. On the lower side it has support of 38480.

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Crude oil price open near to previous day’s high and continues its bullish trend for the day with a new weekly high of 4259. On upper side it can face resistance level of 4289 amd 4312. On the lower side it can face support level of 4195.

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Copper open near to previous day’s low and continue its bearish trend but recover at later half of the day. On upper side it has resistance level of 445.85 and 447.80. On down side it has support level of 440.75

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