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Gold prices moved higher on Friday, as the U.S. dollar was weakened by new developments
in a special investigation into Donald Trump's presidential campaign and amid ongoing
uncertainty over the fate of a major U.S. tax overhaul. The U.S. House of Representatives on
Thursday approved a broad package of tax cuts, which will now be debated by the Senate.
Investors were still cautious however, as the Republican majority is smaller in the Senate and
no decisive action is expected until after next week's Thanksgiving holiday. The greenback
also remained under pressure following reports that U.S. President Donald Trump's election
campaign had been subpoenaed for documents in an ongoing investigation relating to
possible Russian interference in the 2016 presidential election.
Crude oil ended the week on a rebound as Saudi Arabia moved to dissipate doubts that
Russia is ready to extend output curbs. Futures rose 2.6 percent in New York on Friday after
Saudi Ara ias E ergy Mi ister Khalid Al-Falih said OPEC should announce an extension of the
uts he it eets o No . 30. But that as t e ough to o pletely erase losses fro the
past few days, when uncertainty over a deal and surging U.S. production set the tone. Prices
were 0.3 percent lower for the week, snapping the longest streak of weekly gains in a year.
Ahead of the OPEC eeti g, ere goi g to see a little it of olatility," Ge e M Gillia , a
market research manager at Tradition Energy in Stamford, Connecticut, said by phone.
"Going forward, the market needs to keep seeing that the fundamental picture is continuing
to tighten. disruptions.
Contact No. +91-903-977-7700 www.moneyclassicresearch.com
WEEKLY MARKET WRAPUP
SILVER
39507 40208 39455 40171
CRUDEOIL
3609 3642 3579 3666
ZINC
212.60 214.30 204.50 208.70
LEAD
164.50 165.85 156.20 158.65
ALUMINIUM
137.20 138.55 134.65 136.20
COPPER
447.35 453.40 439.40 444.40
NICKEL
800.10 820.10 737.60 750.70
RECOMMENDATION:
BUY GOLD ABOVE 29680 TGT 29880 SL 29480
RECOMMENDATION:
CRUDE OIL BUY ABOVE 3680 TGT 3740 SL 3620
RECOMMENDATION:
SELL ZINC BELOW 206.70 TGT 203.70 SL 209.20
EMAIL- INFO@MONEYCLASSICRESEARCH.COM