BULLION:
Gold prices rallied on Friday, closing just below a 27-month peak, amid fading expectations of a Federal Reserve rate hike in the next couple of months and as investors continued to digest the political and economic aftermath of the U.K.’s decision to leave the European Union. Gold for August delivery on the Comex division of the New York Mercantile Exchange jumped $18.40, or 1.39%, to settle at $1,339.00 a troy ounce by close of trade Friday.
BASE METAL:
LME copper will grow to USD 4,865-4,925/mt during Asian trading hours Monday thanks to softer dollar and US improved manufacturing industry. Base metals are expected to extend gains this week, but growth will slow. It is still uncertain whether the Fed will raise interest rate in the near future as US non-farm employment data have been weak. The Fed and ECB will announce their policy meeting minutes for June.
ENERGY:
Crude prices extended gains on Monday in Asia, supported by comments from the Saudi energy minister saying the oil market is heading toward balance. Attacks in the Niger Delta have pushed Nigerian crude production to 30-year lows, although the Nigerian National Petroleum Corporation (NNPC) said last week that output was rising because of repairs and a fall-off in attacks.
Crude prices extended gains on Monday in Asia, supported by comments from the Saudi energy minister saying the oil market is heading toward balance. Attacks in the Niger Delta have pushed Nigerian crude production to 30-year lows, although the Nigerian National Petroleum Corporation (NNPC) said last week that output was rising because of repairs and a fall-off in attacks.
BULLION & ENERGY
CS GOLD (AUGUST) OVERVIEW:
TREND : BULLISH
RESIST 2: 32300
RESIST 1: 32000
SUP 1: 31500
SUP 2: 31250
STRATEGY: BUY ON DIPS
RESIST 2: 32300
RESIST 1: 32000
SUP 1: 31500
SUP 2: 31250
STRATEGY: BUY ON DIPS
CS SILVER (SEPTEMBER) OVERVIEW:
TREND : BULLISH
RESIST 2: 49350
RESIST 1: 48600
SUP1: 46450
SUP2: 45500
STRATEGY : BUY ON DIPS
RESIST 2: 49350
RESIST 1: 48600
SUP1: 46450
SUP2: 45500
STRATEGY : BUY ON DIPS
CS CRUDE OIL (JULY) OVERVIEW:
TREND :BULLISH
RESIST 2:3370
RESIST 1:3330
SUP1:3270
SUP2:3235
STRATEGY: BUY ON DIPS
RESIST 2:3370
RESIST 1:3330
SUP1:3270
SUP2:3235
STRATEGY: BUY ON DIPS
CS NATURAL GAS (JULY) OVERVIEW:
TREND : BULLISH
RESIST 2:201
RESIST 1:199
SUP1:192
SUP2:188
STRATEGY: BUY ON DIPS
RESIST 2:201
RESIST 1:199
SUP1:192
SUP2:188
STRATEGY: BUY ON DIPS
BASE METAL
CS COPPER (AUGUST) OVERVIEW:
CS COPPER (AUGUST) OVERVIEW:
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