BULLION:
Gold rose slightly in early Asia on Thursday as investors continued to assess the prospects of a rate hike as early as this month by the Federal Reserve. On the Comex division of the New York Mercantile Exchange, Gold for August delivery inched higher to $1,215.55 a troy ounce. Gold is coming off its worst month of the year when the yellow metal tumbled more than 5%, amid strong indications from the Fed.
Gold rose slightly in early Asia on Thursday as investors continued to assess the prospects of a rate hike as early as this month by the Federal Reserve. On the Comex division of the New York Mercantile Exchange, Gold for August delivery inched higher to $1,215.55 a troy ounce. Gold is coming off its worst month of the year when the yellow metal tumbled more than 5%, amid strong indications from the Fed.
BASE METAL:
Workers at Chinalco Mining Corp. International‘s Toromocho mine in Peru started a four-day strike on Tuesday to demand the reinstatement of a quarterly bonus, the workers’ union said. LME copper will rebound to USD 4,590-4,630/mt during Asian trading hours Thursday. A series of economic data and key events will trigger bigger volatility in base metals today. New York Fed manufacturing index and Philadelphia Fed manufacturing index improved.
Workers at Chinalco Mining Corp. International‘s Toromocho mine in Peru started a four-day strike on Tuesday to demand the reinstatement of a quarterly bonus, the workers’ union said. LME copper will rebound to USD 4,590-4,630/mt during Asian trading hours Thursday. A series of economic data and key events will trigger bigger volatility in base metals today. New York Fed manufacturing index and Philadelphia Fed manufacturing index improved.
ENERGY:
NYMEX Crude oil prices fell in Asia on Thursday as U.S. industry estimates of stocks showed a surprise build, but Brent gained slightly as traders turned cautious ahead of the start of an OPEC meeting in Vienna. The American Petroleum Institute's weekly crude inventory report showed an unexpected build of 2.35 million barrels in crude oil, well off the 3.1 million barrels decline seen.
NYMEX Crude oil prices fell in Asia on Thursday as U.S. industry estimates of stocks showed a surprise build, but Brent gained slightly as traders turned cautious ahead of the start of an OPEC meeting in Vienna. The American Petroleum Institute's weekly crude inventory report showed an unexpected build of 2.35 million barrels in crude oil, well off the 3.1 million barrels decline seen.
BULLION & ENERGY
CS GOLD (AUGUST) OVERVIEW:
TREND : BEARISH
RESIST 2: 29300
RESIST 1: 29140
SUP 1: 28850
SUP 2: 28730
STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 39000
RESIST 1: 38750
SUP1: 38270
SUP2: 38000
STRATEGY : SELL ON RISE
CS CRUDE OIL (JUNE) OVERVIEW:
TREND :BULLISH
RESIST 2:3400
RESIST 1:3370
SUP1:3270
SUP2:3230
STRATEGY: BUY ON DIPS
CS NATURAL GAS (JUNE) OVERVIEW:
TREND : BULLISH
RESIST 2:167
RESIST 1:164
SUP1:153
SUP2:150
STRATEGY: BUY ON DIPS
BASE METAL
CS COPPER (JUNE) OVERVIEW:
TREND :BEARISH
RESIST 2:315
RESIST 1:313
SUP1:307
SUP2:305
STRATEGY: SELL ON RISE
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