Crude (76.83) fell sharply and is now trading below 77 following the weak US consumer sentiment and the consumer spending data released on Friday, which still holds the concerns about the economic recovery and the energy demand. If it continues to trade lower we might see a downmove towards 75.50-75 in the coming days.
Gold (1043.70) closed lower on Friday as the dollar continued to strengthen thereby reducing the precious metal's hedge value. As mentioned earlier Support is seen in the region 1030-20 which we expect to hold as the broader picture continues to remain bullish.
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