GOLD CRUDE BEAR | WORLD ECONOMIC CRISIS | 2020

GOLD CRUDE BEAR 

Uncertainty over global economic conditions has had an impact not only on equity markets but also on commodities. The pound, which has been on a profit-taking path for the past few months, fell sharply on Monday to an ounce (31.1g) in the New York futures market. It was trading at $ 1908 with a loss of over $ 50 (3 percent) at 10.30am as of this writing. At one point, the key support level fell below $ 1,900 and touched $ 1,886.

The all-time all-time high of $ 2,089 on weekdays, following the July 27 break of the nine-year high of $ 1,911.60 on Corona's intensity. It then gradually declined to two hundred dollars with the adoption of profits. However, experts say that in the long run, the trend is bullish. On the other hand, in line with international developments in the domestic futures market, MCX, the price of 10 grams of acid fell by Rs 1,400 to Rs 1,400 at the time of writing on Monday. Trading at 50,324. If the trend continues, prices in the Indian spot markets could fall sharply on Tuesday.

On the other hand, the price of light sweet on the Nymex is trading at $ 39 per barrel with a loss of 2%, while the price of Brent is trading at $ 41 with a loss of almost the same level.