Crude oil prices made little headway on Frida

• Crude oil prices shrug off Hurricane Harvey refinery disruptions

• Gold prices may rise as Treasury bond yields fall in risk-off trade

• Net-long speculative gold positioning hints at bearish trend bias

Unrefined petroleum costs made little progress on Friday, with the WTI benchmark run bound in recognizable domain. US refinery terminations obligingness of Hurricane Harvey drove gas upward yet crude material expenses prominently didn't move. Monday's disappointing offering of booked occasion hazard may leave markets rudderless until the point when the API set of week by week stock stream insights turns out on the next day. 

Gold costs wavered at the end of the day neglected to discover directional complete as Fed Chair Janet Yellen talked at the yearly symposium in Jackson Hole, Wyoming. The US national bank boss prominently abstained from offering pointed strategy direction, leaving the destiny of its on-coming monetary record lessening exertion, alleged "quantitative fixing", covered in puzzle. 

A dull day on the US information front may put conclusion slants in the spotlight. S&P 500 fates are pointing mindfully bring down in front of the opening chime on Wall Street while the lastingly against chance Japanese Yen exchanges comprehensively higher, indicating at a sharp state of mind as the week gets in progress. That may convert into bring down Treasury security yields, boosting non-enthusiasm bearing resources including the yellow metal. 

What are the principal drivers of unrefined petroleum value patterns? See our free manual for discover! 

GOLD TECHNICAL ANALYSIS – Gold costs keep on marking in a recognizable area beneath resistance in the 1295.46-97.95 zone (twofold best, 23.6% Fibonacci extension). Negative RSI difference implies a turn lower might be fermenting ahead, with a break beneath rising pattern line bolster at 1287.10 uncovering the 23.6% Fib retracement at 1278.22. Then again, a day by day close above resistance opens the entryway for a trial of the 38.2% extension at 1311.94. 

Unrefined petroleum TECHNICAL ANALYSIS – Crude oil costs remain secured a thin absorption extend beneath the $49/barrel figure. Close term bolster isat 46.62, the 38.2% Fibonacci development, with a day by day close underneath that making room for a test of the half level at 45.46.Alternatively, a move above help turned-resistance at 48.76 uncovered a pattern line conjunction point at 49.60, trailed by the August 1 high at 50.40.

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