Live Mcx Market Update

Gold

Gold Gold on MCX settled down -0.07% at 30955 as trades were flat and Fed speeches offered little guidance on interest rates. Fed Chair Janet Yellen confined her remarks before Congress to issues related to bank regulation. Yellen didn’t say much about monetary policy during her testimony before the House Financial Services Committee, but several Fed officials were slated to make remarks this week, which could have implications for currency and stock market trading — and influence demand for precious metals.

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Silver

Silver on MCX settled up 0.2% at 45583 traded in the range after prices fell more than 1.5 percent in the previous session, its biggest one-day loss in nearly three weeks, strength in the U.S. dollar and as investors assessed Federal Reserve Chair Janet Yellen's testimony before a congressional committee. Yellen was thrust into the election-year boxing ring during the hearing, defending the central bank's regulatory role and considering changing the annual stress tests it gives to U.S. banks to see if they can withstand a massive financial crisis.

Crudeoil

Crudeoil on MCX settled up 2.89% at 3061 recovered from the previous day's fall as support seen from Nymex Crude oil which surged to their highest in almost three weeks to settled at $47.05/bbl up amid speculation that OPEC will soon agree to curb production. While details are not expected until the official OPEC meeting on November 30. But Russia has already said they will go along with the plan. OPEC surprised markets Wednesday and agreed to production curbs under a formula to cut output to a range of 32.5mbls to 33mbls of oil per day from 33.4 million. Under the terms, Saudi is expected to cut output by 350,000 barrels a day, according to reports.