Gold and Crude Oil Trend for Next Week

Posted by Naresh Tomar on Saturday, June 2, 2012

Gold Trend  :- World’s most trusted commodity gold value has begun to grow because of fears of recession.  COMEX Gold price climbed 3% on same day and MCX Gold touched a new record last night. MCX gold prices reached even beyond Rs 30,000. Currently MCX gold is trading at Rs 29 860 with strength of 0.5%.

Fear of recession is hurting to investors due to America's worst figures of unemployment. That's why investors have invested heavily in gold and also due to world stock markets decline public confidence has increased in Gold.  If we talking about whole week gold has gained nearly 3 % on this week.  After January gold so fast first recorded.  Gold June contract expiry on Tuesday next week.  

Crude Oil Trend : - Gold is up fear of global recession but crude oil has declined. NYMEX Crude Oil prices slipped to $ 83 and Brent crude was down $ 100. MCX Crude oil slipped to Rs 4630. In international market crude oil has been broken 8.5% on whole week.  In addition downturn has seen in international market and United States Crude Oil reserves have reached record levels in 22 years. OPEC oil production has reached upper end of last 4 years.  we expect  that crude oil could fall to $ 81/ barrel.

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