Mcx-Precious-Energy Outllook: Crude Oil and Gold are In uptrend in Global cues

Bullion gained at a good rate early morning Monday as markets took positive cues out of the Chinese easing. While we should see higher opening in Indian markets; it is likely that Bullion may see ranged to positive trading backed by Chinese cues.Locally, the FM on Saturday left import taxes higher at 10% for Gold which indirectly may act negatively for jewelery companies and also curb demand over medium-term. We hold range to positive bias in Gold today while domestically, traders need to keep close watch at Rupee as well

Crude oil rose sharply on Friday as Brent and U.S. futures posted their first monthly gains since June, supported by an improving demand outlook and supply outages.

 

The oil market will rebalance in the next several months as a price collapse boosts consumption and curbs supplies, the International Energy Agency said, a day after Saudi Arabia’s oil minister’s statement of demand rising.

Mcx Gold Tips for Today: As per Expert Advice “BUY” above 26310 at stop loss 26260 with Taget 26570

Mcx copper Tips For Today: Mcx cooper Bullish In trade Buy above 370 at Stop loss 367 with TG 374