BULLION:
Gold prices fell in early Asia on Tuesday with sentiment downbeat on prospects for a rate hike by the Federal Reserve this summer seen growing. Gold for June delivery on the Comex division of the New York Mercantile Exchange eased 0.38% to $$1,212.05 a troy ounce. Expectations for a summer rate hike mounted after Federal Reserve Chair Janet Yellen said late Friday that a rate increase would be appropriate in coming months if the economy continues to strengthen.
Gold prices fell in early Asia on Tuesday with sentiment downbeat on prospects for a rate hike by the Federal Reserve this summer seen growing. Gold for June delivery on the Comex division of the New York Mercantile Exchange eased 0.38% to $$1,212.05 a troy ounce. Expectations for a summer rate hike mounted after Federal Reserve Chair Janet Yellen said late Friday that a rate increase would be appropriate in coming months if the economy continues to strengthen.
BASE METAL:
LME copper will see weak trading and range USD 4,650-4,690/mt during Asian trading hours Tuesday. LME market resumed trading on Tuesday. Market will eye Europe and US inflation data, as well as the Conference Board’s consumer confidence index for May. Base metals will continue diverging from each other. The euro zone’s CPI is expected to improve in May, due mainly to rising crude oil prices.
LME copper will see weak trading and range USD 4,650-4,690/mt during Asian trading hours Tuesday. LME market resumed trading on Tuesday. Market will eye Europe and US inflation data, as well as the Conference Board’s consumer confidence index for May. Base metals will continue diverging from each other. The euro zone’s CPI is expected to improve in May, due mainly to rising crude oil prices.
ENERGY:
NYMEX Crude oil gained in Asia on Tuesday, while Brent eased lower, after thin overnight dealings as investors mull the impact of supply disruptions against the outcome of an OPEC meeting later this week expected to do little to change global oversupply. Crude oil for July delivery on the New York Mercantile Exchange rose 0.39%, to $49.51 a barrel. Brent crude was quoted down 0.34% at $50.19 a barrel.
NYMEX Crude oil gained in Asia on Tuesday, while Brent eased lower, after thin overnight dealings as investors mull the impact of supply disruptions against the outcome of an OPEC meeting later this week expected to do little to change global oversupply. Crude oil for July delivery on the New York Mercantile Exchange rose 0.39%, to $49.51 a barrel. Brent crude was quoted down 0.34% at $50.19 a barrel.
BULLION & ENERGY
CS GOLD (AUGUST) OVERVIEW:
TREND : BEARISHRESIST 2: 29070
RESIST 1: 28970
SUP 1: 28600
SUP 2: 28550
STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND : BEARISHRESIST 2: 39100
RESIST 1: 38800
SUP1: 38350
SUP2: 38100
STRATEGY : SELL ON RISE
CS CRUDE OIL (JUNE) OVERVIEW:
TREND :BULLISHRESIST 2:3440
RESIST 1:3390
SUP1:3300
SUP2:3270
STRATEGY: BUY ON DIPS
CS NATURAL GAS (JUNE) OVERVIEW:
TREND : BEARISHRESIST 2:152
RESIST 1:150
SUP1:144
SUP2:141
STRATEGY: SELL ON RISE
BASE METAL
CS COPPER (JUNE) OVERVIEW:
TREND :SIDEWAYSRESIST 2:320
RESIST 1:316
SUP1:311
SUP2:309
STRATEGY: BUY ON DIPS
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