Crude oil prices tumbled this week, amid concerns over the long-term demand outlook.
Last Thursday, we saw gold climb 2.5 per cent in intraday trade.
The $1,200 level seems to remain the psychological resistance point for the gold prices.
The global crude market witnessed yet another volatile week.
The EIA reported crude supplies rose by 8 million barrels for the week ended September 28.
Weakening currencies in major Asian oil importers are expected to cap rising oil prices.
The stock corrections have mostly been sharp and sudden.
Wherever there is growth, the market is bound to pay a premium.
Analysts point out that banking and automobile sectors received severe battering last month.
Out of 416 open-ended, onshore equity funds, 401 have lost money this year.
Gold is likely to reclaim $1,330 an ounce mark on Commex and Rs 33,500 on MCX.
Shares of Tata Sponge and MM Forging plunged 20 per cent and 10 per cent so far in 2018.
The scrip has already surged 1,000 per cent in five years – mainly in last 18 months.
One of the important point is the need to invest at regular intervals.
General elections in India are due in April-May 2019 to constitute the 17th Lok Sabha.
Sell side is getting crowded and gold bulls are strongly defending $1,170-$1,180 levels.
For the past couple of weeks traders and money managers have been increasingly bullish on Brent.
Edible oil prices may gradually increase in coming months on a weaker rupee.
Traders can sell copper in the price range of Rs 424-426 with strict stop loss at Rs 432 on a closing basis.
Gold prices have been consolidating in the range of $1,195-1,205 in the global markets.
It is important to keep an eye on the bearish flashpoints hanging over market in September.
OPEC expects global oil demand to break through 100 million bpd for the first time this year.
Iran exported just over 2 million barrels a day of crude oil and condensate in August 2018.
Average price of hedge fund net short position likely to be between $1,222 and $1,216.
Oil has rebounded in recent weeks. The reasons for the recent rebound are many.