Gold Prices ends Higher on Technical Buying,Crude prices robust sentiment

Gold price rose almost 1% $ to close at $961.5,supported as the dollar fell against Euro as better than expected durable goods order and Jobless claims boosted risk appetite.Moreover inflation concerns also stirred buying into Metals , Fund buying arrive after Gold Futures rose above $ 955 ,as rally in euros and technical buying also supported Metals futures. Crude prices too supported Yellow metals as crude futures prices rose above $64 per Barrel as OPEC Kept its output Unchanged.

* Comex Gold market open interest Up 1,341 lots at 398,306 Lots as of May 27, Indicating investment buying by Funds and Official Institution House.

* Gold/Oil ratio at 14.81 , lower than the 15.02 of the previous Trading session.

Silver soars to 15.35 after adding 2% close to $15.6 yesterday. The white metal continued to be the out performer in the precious metal .

Crude oil prices advanced across the energy complex taking the leading role. Crude Oil July surged to 2.6% close at 65.08(day High 65.44) OPEC announced to keep Output unchanged its production, while these were widely expected , as Saudi Oil minister commented that Oil price is capable to achieve $75- 80 bbl Mark boost market Sentiment However, better than expected economic indicators and rally in stock Markets were the Main driver to push crude oil prices above $65

We expect today’s Precious Metals will be Trading higher level ,As we said On gold above $965 it can breached $980 levels easily. Silver see good rally which could be better than in Yellow Metals. We expect silver to trade at $15.35 – 15.75 levels.
As past Trading sessions we have seen crude oil prices soars to $65 Per Barrel, well crude oil prices still has momentum level were it can breached in next trading session .it could be in range of $62 – 67$ near term expect to breached $70 bbl Mark