BULLION:
Gold prices eased in Asia on Thursday with the market looking ahead to comments from Fed Chair Janet Yellen and U.S. GDP data at the end of the week. On the Comex division of the New York Mercantile Exchange, gold for June delivery fell 0.09% to $1,222.75 a barrel.
BASE METAL:
LME copper will consolidate at
highs of USD 4,640-4,685/mt during Asian trading hours Thursday. US durable
orders and pending home sales in April will be announced today. Base metals are
expected to follow their own trends today. US April pending home sales are
expected to fall sharply from March. US home prices climbed recently, though,
while housing starts and construction permits in April both increased. New and
existing home sales were also upbeat in April, meaning US property market is
recovering.
ENERGY:
Crude held gains in Asia on Thursday, with Brent topping $50, with investors cautious ahead of an OPEC meeting next week in Vienna which will be notable with long-time Saudi oil minister Ali bin Ibrahim Al-Naimi not heading the Saudi delegation. Representatives from the 13-nation oil cartel, however, are not expected to reach a deal on a comprehensive production freeze at the meeting in Vienna, as Iran stands firm on a stance of increasing output to reach 2007 pre-sanction levels.
Crude held gains in Asia on Thursday, with Brent topping $50, with investors cautious ahead of an OPEC meeting next week in Vienna which will be notable with long-time Saudi oil minister Ali bin Ibrahim Al-Naimi not heading the Saudi delegation. Representatives from the 13-nation oil cartel, however, are not expected to reach a deal on a comprehensive production freeze at the meeting in Vienna, as Iran stands firm on a stance of increasing output to reach 2007 pre-sanction levels.
BULLION & ENERGY
CS GOLD (JUNE) OVERVIEW:
TREND : BEARISHRESIST 2: 29500
RESIST 1: 29300
SUP 1: 28860
SUP 2: 28620
STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND : BEARISHRESIST 2: 40230
RESIST 1: 39850
SUP1: 39100
SUP2: 38730
STRATEGY : SELL ON RISE
CS CRUDE OIL (JUNE) OVERVIEW:
TREND :BULLISHRESIST 2:3450
RESIST 1:3420
SUP1:3330
SUP2:3290
STRATEGY: BUY ON DIPS
CS NATURAL GAS (JUNE) OVERVIEW:
TREND : BEARISHRESIST 2:152
RESIST 1:150
SUP1:143
SUP2:141
STRATEGY: SELL ON RISE
BASE METAL
CS COPPER (JUNE) OVERVIEW:
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