Gold Prices Heading Upwards

Gold went up during the trading sessions in Asia on Wednesday.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery rose by 0.48% to trade at $1,511.05 per troy ounce.

Moreover, gold found support at $1,480.50 and resistance at $1,525.80.

Elsewhere on Comex, Silver for delivery in December rose by 0.54% and traded at $17,795 per troy ounce while Copper for delivery in

December gained by 0.16% to trade at $2,571 a pound.

Separately, there are several factors that are indicating that gold prices will soon mark new peaks.

Oil Prices Going Down

Crude oil futures retreated this morning.

On the New York Mercantile Exchange, Crude Oil futures for delivery in November dropped by 0.30% to $52.47 a barrel.

Oil is currently trading in a bearish period and is very much likely to find support and resistance at $50.99 and $54.06 respectively.

Elsewhere on ICE, Brent oil December delivery fell by 0.33% and traded at $58.05 per barrel.

Microsoft Foldable Smartphone

Microsoft is a big name in the tech industry but has never really shone on the mobile phone market, and it's not for lack of trying.

Microsoft has last week announced some new products at its annual event, including a foldable phone. While it may seem difficult for the company to take market share from Apple Inc. and Alphabet Inc., there are reasons to believe that the new Microsoft phone can be a success.

  • Microsoft gives up Windows for Android
  • A huge phone
  • Surface functionality could be a differentiator

If Microsoft devices can offer users more functionality than their ordinary phones, this could change the game and make Microsoft a big threat in the smartphone market and push its market capitalization even higher.

Financial Events to watch for today

Crude Oil Inventories [U.S.]