BULLION:
Gold gained in Asia on Monday as chances of a rate hike later this month by the Federal Reserve appear to have dimmed on recent data. Gold for August delivery on the Comex division of the New York Mercantile Exchange rose 0.53% to $1,249.50 a troy ounce. Market players will be turning their attention to a highly anticipated speech by Fed Chair Janet Yellen on Monday for further clues on the timing of the next U.S. rate hike.
Gold gained in Asia on Monday as chances of a rate hike later this month by the Federal Reserve appear to have dimmed on recent data. Gold for August delivery on the Comex division of the New York Mercantile Exchange rose 0.53% to $1,249.50 a troy ounce. Market players will be turning their attention to a highly anticipated speech by Fed Chair Janet Yellen on Monday for further clues on the timing of the next U.S. rate hike.
BASE METAL:
LME copper will widely range USD 4,685-4,715/mt during Asian
trading hours Monday. China’s financial market will be closed on Thursday and
Friday for the Dragon Boat Festival. US non-farm payrolls came in at 38,000 in
May and this allowed US dollar index to erase the past one month’s gains, which
will support base metals prices. The unemployment rate hit a low of 4.7% in
May, which weakened expectation for rate hike in June or July.
ENERGY:
Crude oil gained further in Asia on Monday with prospects for stronger demand eyed in data from the U.S. this week. On the New York Mercantile Exchange, crude oil for delivery in July rose 0.93% to $49.07 a barrel. Brent crude gained 0.68% to $49.98 a barrel. Oilfield services provider Baker Hughes said Friday that the number of rigs drilling for oil in the U.S. increased by nine last week to 325.
Crude oil gained further in Asia on Monday with prospects for stronger demand eyed in data from the U.S. this week. On the New York Mercantile Exchange, crude oil for delivery in July rose 0.93% to $49.07 a barrel. Brent crude gained 0.68% to $49.98 a barrel. Oilfield services provider Baker Hughes said Friday that the number of rigs drilling for oil in the U.S. increased by nine last week to 325.
BULLION & ENERGY
CS GOLD (AUGUST) OVERVIEW:
TREND : BULLISH
RESIST 2: 29750
RESIST 1: 29600
SUP 1: 29275
SUP 2: 29180
STRATEGY: BUY ON DIPS
RESIST 2: 29750
RESIST 1: 29600
SUP 1: 29275
SUP 2: 29180
STRATEGY: BUY ON DIPS
CS SILVER (JULY) OVERVIEW:
TREND : BULLISH
RESIST 2: 39900
RESIST 1: 39500
SUP1: 39000
SUP2: 38770
STRATEGY : BUY ON DIPS
RESIST 2: 39900
RESIST 1: 39500
SUP1: 39000
SUP2: 38770
STRATEGY : BUY ON DIPS
CS CRUDE OIL (JUNE) OVERVIEW:
TREND :BEARISH
RESIST 2:3390
RESIST 1:3330
SUP1:3250
SUP2:3230
STRATEGY: SELL ON RISE
RESIST 2:3390
RESIST 1:3330
SUP1:3250
SUP2:3230
STRATEGY: SELL ON RISE
CS NATURAL GAS (JUNE) OVERVIEW:
TREND : BULLISH
RESIST 2:169
RESIST 1:167
SUP1:161
SUP2:159
STRATEGY: BUY ON DIPS
RESIST 2:169
RESIST 1:167
SUP1:161
SUP2:159
STRATEGY: BUY ON DIPS
BASE METAL
CS COPPER (JUNE) OVERVIEW:
TREND :BULLISH
RESIST 2:320
RESIST 1:318
SUP1:313
SUP2:310
STRATEGY: BUY ON DIPS
RESIST 2:320
RESIST 1:318
SUP1:313
SUP2:310
STRATEGY: BUY ON DIPS
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