Market Commentary On Gold/Silver/Crude Oil

Gold: Yellow Metal Trades A Bit Deeper In The Morning session:

For the 24 hours to 23:00 GMT, gold rose 0.4% against the USD and closed at USD 1298.60 an ounce as weakness in global stock markets boosted demand for the precious yellow metal.At the Asian session, the pair traded at GMT0400 at 1298.20 with the gold price being slightly lower against the USD from yesterday's close. The pair is expected to find support at 1293.00 and a breakthrough could bring it to the next support level of 1287.80. It is expected that the pair will find its first resistance at 1303.40 and a rise through it could result in the next resistance of 1308.60.

The yellow metal shows convergence with its 20-hour moving average, trading above its 50-hour moving average.

Silver: White Metal Trading On A Weaker Foundation This Morning:

For the 24 hours to 23:00 GMT, silver rose 0.06% against the US dollar, closing at USD17.13 an ounce, resulting in gains in gold prices.In the Asian session at GMT0400, the pair trades at 17.12, with silver trading 0.06% lower than the USD from yesterday's close.The pair is expected to find support at 17:05, and a breakthrough could reach the next support level of 16.99. The pair is expected to find its first resistance at 17.23 and bring it up to the nearest resistance level of 17.34.

The white metal is trading below its 20-hour and 50-hour moving averages.

Crude oil: Oil loses its losses in the morning session:

For the 24 hours to 23:00 GMT, Crude oil fell 1.33% against the USD, closing at USD57.86 a barrel, as news of the Keystone Crude Oil pipeline reboots news of a higher supply.In addition, growing uncertainty over the results of the OPEC meeting, which was scheduled later in the week, weighed on crude oil prices. In the Asian session at GMT0400, the pair is trading at 57.74, with oil trading 0.21% lower against yesterday's close of yesterday's close.The pair is expected to find support at 57.28 and a breakthrough could bring it to 56.82 next support level. It is expected that the pair will find its first resistance at 58.47 and a rise through it could bring it to the next resistance level of 59.20.

Crude oil is trading below its 20-hour and 50-hour moving average.