Bullions: Gold Futures traded with negative bias and opened at lowered below its previous close of 1,297.30 and reached at 1,294.70 with a 0.20 percent decline in it. US Dollar has always been a powerful fuel to strengthen gold but according to domestic market report, the chances of the weakening of US Dollar is much better as we move towards the next year. The bullion market is influencing by ongoing financial events include ISM Non-Manufacturing PMI & RBI Interest Rate Decision.
Energy: Despite being traded with a negative bias on the last day, today in crucial hours of the session, oil prices have surged to the level of 65.18 from day’s opening of 64.97. Any movement above the level of $65.50 in trading will confirm the bullish sentiment.
Ignoring the international movement, MCX Crude has risen to the green region and has gained 0.735% from the previous close of 4351.00.
Precious Metal: The bearish sentiment can be seen with yellow metal since it continued to remain under pressure and is currently at the level of $1295. The possibility of its reaching lower to the level of $1285.90 is fair.