Daily Market Reflection 9th June 2016 Market Outlook
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Gold and silver showed highly bullish movement and closed above its important resistance levels. Interest rate hike decision can be delayed and investor was buying in the anticipation. In coming session if interest rate hike was delayed then market can show bullish movement. Crude was also very bullish because of the supply disruptions and in coming session more bullishness can be seen. Buying crude would be profitable strategy. Base metals showed bullish movement in which Nickel and Zinc were highly bullish.
MCX
Gold touched a fresh two-week high on Wednesday as the Fundamental Factors possibility of an early US interest rate hike appeared to dim following dovish comments by Federal Reserve chair Janet Yellen earlier this week. Fed Chair Janet Yellen gave a largely upbeat assessment of the US economy on Monday and said interest rate increases were coming, but investors focused on her lack of guidance about when. US crude rises above $51 for first time since July on supply disruptions. Important Data
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GOLD SILVER CRUDE COPPER ALUMINIUM LEAD NICKEL ZINC NATURALGAS COMEX GOLD SILVER CRUDE COPPER USDINR $ INDEX
Date 7-06-16 29366 39010 3345 303.35 104.25 113.60 576.70 132.95 165.10 Date 7-06-16 1248.00 16.394 50.36 2.051 66.9800 93.84
Date 8-06-16 29629 40254 3396 304.20 106.10 115.90 598.90 137.45 164 Date 8-06-16 1262.55 17.015 50.90 2.061 66.8550 93.52
% Chg +0.90% +3.19% +1.52% +0.28% +1.77% +2.02% +3.85% +3.38% -1.10% % Chg +1.24% +3.79% +1.07% +0.54% -0.19% -0.34%
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