BULLION:
Gold rose slightly in Asia on Friday with trade thin ahead of next week's Federal Reserve review of interest rates. On the Comex division of the New York Mercantile Exchange, gold for June delivery edged up 0.03% to $1,250.70 a troy ounce. Overnight, gold inched down amid a relatively flat dollar, as the European Central Bank held interest rates steady at a highly-anticipated meeting on Thursday, while hinting that rates could be cut again in the short-term future.
Gold rose slightly in Asia on Friday with trade thin ahead of next week's Federal Reserve review of interest rates. On the Comex division of the New York Mercantile Exchange, gold for June delivery edged up 0.03% to $1,250.70 a troy ounce. Overnight, gold inched down amid a relatively flat dollar, as the European Central Bank held interest rates steady at a highly-anticipated meeting on Thursday, while hinting that rates could be cut again in the short-term future.
BASE METAL:
Copper futures price tumbled with
falling price of oil and ferrous metals, a rising dollar. On Friday, long
momentum is expected to remain in copper market. Base metals are expected to
consolidate at lows and diverge today. Futures market slumped overnight with
retreat of investors. Eurozone manufacturing, service and composite PMIs in
April are expected to top market expectations, meaning continuous recovery in
the eurozone.
ENERGY:
Crude oil prices rose sharply in Asia on Friday as investors rallied from overnight drops with U.S. rig count data from Baker Hughes later in the day expected to set the near-term tone. Overnight, crude futures retreated from 2016 yearly-highs on Thursday, as the dollar rallied late in the session following dovish comments from European Central Bank president Mario Draghi on the possibility of future interest rate cuts before the end of the year.
Crude oil prices rose sharply in Asia on Friday as investors rallied from overnight drops with U.S. rig count data from Baker Hughes later in the day expected to set the near-term tone. Overnight, crude futures retreated from 2016 yearly-highs on Thursday, as the dollar rallied late in the session following dovish comments from European Central Bank president Mario Draghi on the possibility of future interest rate cuts before the end of the year.
BULLION & ENERGY
CS GOLD (JUNE) OVERVIEW:
TREND : BULLISHRESIST 2: 29600
RESIST 1: 29480
SUP 1: 29170
SUP 2: 28940
STRATEGY: BUY ON DIPS
CS SILVER (MAY) OVERVIEW:
TREND : BULLISHRESIST 2: 41200
RESIST 1: 40600
SUP1: 39600
SUP2: 38830
STRATEGY : BUY ON DIPS
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BULLISHRESIST 2:2980
RESIST 1:2950
SUP1:2845
SUP2:2800
STRATEGY: BUY ON DIPS
CS NATURAL GAS (APRIL) OVERVIEW:
TREND : BEARISHRESIST 2:143
RESIST 1:140
SUP1:136
SUP2:134
TRATEGY: SELL ON RISE
CS COPPER (APRIL) OVERVIEW:
TREND : BULLISHRESIST 2:333
RESIST 1:330
SUP1:327
SUP2:325
STRATEGY: BUY ON DIPS
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