After
the vigorous fall crude oil in the international market has shown
some recovery but there is no edge for crude oil in the domestic
market. The strengthening of the rupee against the dollar has stopped
the increasing price of the crude oil in the mcx market. Noticeable
point is that there is no any news or updates in the market for the
upliftment of the crude oil. Currently the crude oil is trading at
4,660 with a increase of 0.2 percent in the current prices.
Today
the crude oil touched the lowest price level of last 3 months. The
reserve of crude oil is the US has been increased more than it was
expected. U.S. crude oil production has also increased. Slight
improvement in the U.S. economy has been accepted by the the Federal
Reserve. But still including Europe and China the world economy
remains sluggish. Gold prices have also been falling continuously.In
the last 7 weeks in the international market, gold is trading around
the lower level. In the domestic market, gold prices have not fallen
much. Despite this, gold is visible to the pressure. Currently, with
a gain of 0.25 per cent on MCX gold is trading at Rs 30900 and With
0.7 percent gain silver is trading at Rs 59400.
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