BULLION:
Gold prices edged up in Asia on Thursday with investors cautious ahead of the G7 meeting in Tokyo this month and June's referendum on the U.K. and the European Union. On the Comex division of the NYMEX, gold for June delivery rose 0.33% to $1,279.65 a troy ounce. Gold fell approximately $30 an ounce over the previous two sessions, as the dollar rebounded amid indications that the Fed may disregard a soft U.S.
BASE METAL:
LME copper will range USD 4,680-4,720/mt during Asian
trading hours Thursday. Market attention will focus on US initial jobless
claims and April import price index on Thursday. Despite disappointing US April
non-farm payrolls, US initial jobless claims for last week remained below
300,000 for 61 weeks in a row, which will have limited impact on market. The
Bank of England (BOE) will announce result for its policy meeting.
ENERGY:
Oil prices fell on Thursday, dragged down by the gradual return of Canadian oil sands output, reversing a sharp rise the previous day when the U.S. government detailed an unexpected fall in crude inventories. Traders said the dips were largely a result of profit-taking following intra-day Brent price rises of up to $2.95 the previous day when U.S. government data surprised with a drop in crude inventories.
Oil prices fell on Thursday, dragged down by the gradual return of Canadian oil sands output, reversing a sharp rise the previous day when the U.S. government detailed an unexpected fall in crude inventories. Traders said the dips were largely a result of profit-taking following intra-day Brent price rises of up to $2.95 the previous day when U.S. government data surprised with a drop in crude inventories.
BULLION & ENERGY
CS GOLD (JUNE) OVERVIEW:
TREND : BULLISHRESIST 2: 30230
RESIST 1: 30000
SUP 1: 29800
SUP 2: 29600
STRATEGY: BUY ON DIPS
CS SILVER (JULY) OVERVIEW:
TREND : BULLISHRESIST 2: 42100
RESIST 1: 41700
SUP1: 40890
SUP2: 40650
STRATEGY : BUY ON DIPS
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BULLISHRESIST 2:3140
RESIST 1:3100
SUP1:2970
SUP2:2945
STRATEGY: BUY ON DIPS
CS NATURAL GAS (MAY) OVERVIEW:
TREND : BULLISHRESIST 2:149
RESIST 1:146
SUP1:142
SUP2:139
STRATEGY: BUY ON DIPS
BASE METAL
CS COPPER (JUNE) OVERVIEW:
TREND : BEARISH
RESIST 2:322
RESIST 1:317
SUP1:312
SUP2:309
STRATEGY: SELL ON RISE
RESIST 2:322
RESIST 1:317
SUP1:312
SUP2:309
STRATEGY: SELL ON RISE
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