BULLION:
Gold drifted lower on Friday in Asia as investors remained cautious ahead of this month's Federal Reserve review of interest rates. On the Comex division of the New York Mercantile Exchange, gold for August delivery fell 0.19% to $1,210.25 a troy ounce. Overnight, gold inched down amid a relatively flat dollar.
Gold drifted lower on Friday in Asia as investors remained cautious ahead of this month's Federal Reserve review of interest rates. On the Comex division of the New York Mercantile Exchange, gold for August delivery fell 0.19% to $1,210.25 a troy ounce. Overnight, gold inched down amid a relatively flat dollar.
BASE METAL:
LME copper will widely range USD 4,580-4,620/mt during Asian trading hours Friday. US May non-farm payrolls will come under the spotlight today, which will offer key clue for the US Fed’s policy path. The US dollar index experienced a brief pullback following release of downbeat US April non-farm payrolls. But the dollar index then rebounded to hit a daily high since jobless rate remained below 5% in April.
LME copper will widely range USD 4,580-4,620/mt during Asian trading hours Friday. US May non-farm payrolls will come under the spotlight today, which will offer key clue for the US Fed’s policy path. The US dollar index experienced a brief pullback following release of downbeat US April non-farm payrolls. But the dollar index then rebounded to hit a daily high since jobless rate remained below 5% in April.
ENERGY:
Crude oil prices were flat to weaker in early Asia on Friday with investors noting the bearish unchanged OPEC production ceiling, but also looking ahead to demand prospects. It came amid bullish comments from Saudi Arabia, which attempted to soothe investor sentiments by pledging not to flood markets with a glut of supply in the coming months.
Crude oil prices were flat to weaker in early Asia on Friday with investors noting the bearish unchanged OPEC production ceiling, but also looking ahead to demand prospects. It came amid bullish comments from Saudi Arabia, which attempted to soothe investor sentiments by pledging not to flood markets with a glut of supply in the coming months.
BULLION & ENERGY
CS GOLD (AUGUST) OVERVIEW:
TREND : BEARISH
RESIST 2: 29100
RESIST 1: 28930
SUP 1: 28650
SUP 2: 28550
STRATEGY: SELL ON RISE
RESIST 2: 29100
RESIST 1: 28930
SUP 1: 28650
SUP 2: 28550
STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 39000
RESIST 1: 38750
SUP1: 38300
SUP2: 37950
STRATEGY : SELL ON RISE
RESIST 2: 39000
RESIST 1: 38750
SUP1: 38300
SUP2: 37950
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
RESIST 2:3400
RESIST 1:3370
SUP1:3270
SUP2:3230
STRATEGY: BUY ON DIPS
CS NATURAL GAS (JUNE) OVERVIEW:
TREND : BULLISH
RESIST 2:169
RESIST 1:166
SUP1:162
SUP2:160
STRATEGY: BUY ON DIPS
RESIST 2:169
RESIST 1:166
SUP1:162
SUP2:160
STRATEGY: BUY ON DIPS
BASE METAL
CS COPPER (JUNE) OVERVIEW:
TREND :BEARISH
RESIST 2:315
RESIST 1:312
SUP1:308
SUP2:305
STRATEGY: SELL ON RISE
RESIST 2:315
RESIST 1:312
SUP1:308
SUP2:305
STRATEGY: SELL ON RISE
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