Gold and silver fell slightly during Wednesday trade as investors were keenly awaited for cues from US Fed meeting that ends later today. The Federal Reserve is likely to raise interest rates for the third consecutive time this year today after its two-day policy meeting.
MCX Gold was trading 0.10% down at Rs 30,785 per 10 grams while MCX Silver was down 0.03% at 38,230 during late morning deals. Gold can face support at Rs 30,700 and can take resistance near Rs 30,900 on MCX, while Silver can take comfort from close to Rs 37,900, with an expected barrier near Rs 38,600.
As for energy, Crude oil's support line is about to happen near Rs 5,230, with possible headwinds near Rs 5,310 on MCX. US natural gas futures rose to a near 8-month high for the second consecutive day on Tuesday amid storage worries as the weather across much of the country remained warmer than normal, keeping air conditioning demand high for this time of year.
No comments:
Post a Comment