BULLION:
Gold prices gained slightly in Asia on Friday as voters
in Greece get set this weekend to give a thumbs up, or down, on an
international creditor bailout package that could determine the
country's ability to use the euro as its currency. On the Comex
division of the New York Mercantile Exchange, gold for August
delivery rose 0.10% to $1.164.70 a troy ounce. Average hourly wages
also remained flat on a month to month basis, one month after surging
0.3% in May. Analysts forecasted a 0.2% increase in wages for June.
The unemployment rate, meanwhile, ticked down to 5.3% slightly above
consensus forecasts for a 0.1% decline to 5.4%.
BASE METAL:
The number of US non-farm employment released overnight
increased 223,000, slightly lower than the average 225,000 expected
by Market Watch’s economists. Meanwhile, unemployment rate in June
fell from 5.5% to 5.3%, its lowest since 2008’s spring. However, US
factory orders in May decreased 1%, with the decline larger than the
0.5% expected. The number of US initial jobless claims for the week
ending June 27 increased 10,000, with seasonally adjusted data up to
281,000, hitting a five-week high. Investors are cautious as the US
market is closed today due to the Independence Day holiday. Besides,
a referendum in Greece is also due this Sunday. The dollar index
dropped 0.19%.
ENERGY:
Crude oil prices took a sharply
dip in Asia on Friday as investors see few demand triggers and the
possibility of financial market volatility next week after Greece
voters go to the polls at the weekend on a referendum whether to
accept a bailout package from international creditors. U.K. foreign
secretary Philip Hammond told the Wall Street Journal that talks
between Western powers and Iran on a comprehensive nuclear agreement
have yet to reach a breakthrough moment. If a deal is reached, Iran
reportedly has 30 million barrels of crude in reserves ready for
export. An outflow of Iranian oil could saturate a market already
beset by oversupply.
BULLION & ENERGY
CS GOLD (AUGUST) OVERVIEW:
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TREND
MIXED TO BEARISH
RESIST
2:26515
RESIST
1:26380
SUP1:26135
SUP2:26850
STRATEGY:
SELL ON RISE
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CS
SILVER (SEPTEMBER) OVERVIEW:
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TREND
MIXED TO BEARISH
RESIST
2:36330
RESIST
1:36145
SUP1:
35720
SUP2:35520
STRATEGY:
SELL ON RISE
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CS CRUDE OIL (JULY) OVERVIEW:
| ||||||||||||
TREND
MIXED TO BEARISH
RESIST
2:3760
RESIST
1:3715
SUP1:3600
SUP2:3520
STRATEGY:
SELL ON RISE
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BASE METAL
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