Today Commodity MCX Gold prices are fell down by more than 1 percent as per the news Greek government dropped calls for a write off of it's foreign debt enhance risk appetite, sparking a rally in stock market. But metal provides the benefit in early trade from gains in other commodities, but later it came under pressure as interest decreased in gold as a haven from risk. Where as the gold prices are rose more than 8 percent in January, their strongest month in last three years, though expectations for a U.S. interest rate increase later in the year and kept lid on gains.
But the metal still thoughtful for the U.S. data, but for the trader's try to anticipate when the Federal Reserve will increase rates. But from all this it didn't seems real interest in market before the NFPs (non farm payrolls) which is on Friday.
On the other hand oil prices are rose strongly again on Monday, sailing on a total of 11 percent over two straight session. Well the benchmark Brent and U.S. oil futures swung in a band of about $4 per barrel, one for the widest in weeks, as near term technical signals point out further gains while fundamental data continued to weigh on the market. But we could get a pretty good correction in the bear market here to really mess up all the new shorts.
But the metal still thoughtful for the U.S. data, but for the trader's try to anticipate when the Federal Reserve will increase rates. But from all this it didn't seems real interest in market before the NFPs (non farm payrolls) which is on Friday.
On the other hand oil prices are rose strongly again on Monday, sailing on a total of 11 percent over two straight session. Well the benchmark Brent and U.S. oil futures swung in a band of about $4 per barrel, one for the widest in weeks, as near term technical signals point out further gains while fundamental data continued to weigh on the market. But we could get a pretty good correction in the bear market here to really mess up all the new shorts.
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