Gold
On Monday, gold remains higher after president Trump tested positive for COVID19. Spot Gold was up 0.06% at $1,899 whereas COMEX Gold Future was trading down 0.17% at $1,904 per troy ounce.
MCX Gold price remained range-bound throughout the day before closing flat. The daily RSI is reading at 45.71. On the lower end, support seen at 50000 while on the higher end, resistance seen at 50700.
Oil
On Monday, oil price recovered significantly after falling sharply on president Trump’s COVID19 test report. West Texas Intermediate (WTI) crude was up 2.00% at $37.79 whereas Brent crude was up 1.63% at $39.91.
MCX Crude oil price slipped below previous swing low. The daily RSI is in negative crossover. On the lower end, support seen at 2700 while on the higher end, resistance seen at 2960.
Base Metals
On Monday, base metals were trading with a positive bias. On London Metal Exchange (LME), Aluminium was up 0.27% at $1,764 whereas Copper was up 0.16% at $6,555; Zinc was up 0.46% at $2,324 while Lead was up 0.11% at $1,774.
MCX Copper price slipped below previous swing low on the daily chart. The daily RSI is in positive crossover. On the lower end support seen at 490 while on the higher end resistance seen at 505.