🔹 Bullion Update

Advisory Bazaar Info Services

Bullion contracts may trade on a mixed path. On Thursday, gold prices slipped as the dollar strengthened, while investors awaited U.S. Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole symposium, which could provide cues on the direction of U.S. monetary policy.

* Gold may trade in the range of 98,900 – 99,700.

* Silver may trade in the range of 1,12,000 – 1,15,000.

The Fed has not changed rates since December, but according to the CME FedWatch Tool, there is a 71% probability of a 25 bps cut by September.

🔹 Energy Update

* Crude Oil → May trade on a mixed path within the range of 5,470 – 5,600.

* Oil prices remained almost steady on Friday, but are now heading towards gains after two weeks of declines.

* Hopes of an immediate peace deal in the Russia–Ukraine war have diminished, adding a risk premium to oil.

* U.S. crude stockpiles fell sharply by 6 million barrels last week, signaling strong demand.

* Natural Gas → May remain volatile and trade within the range of 240 – 250.