BULLION:
Gold rose in Asia on Monday as policy makers set the
stage to react to any fallout from the Greek vote at the weekend
rejected the bailout terms from international creditors. Gold futures
for August delivery on the Comex rose 0.36% at $1,172 a troy ounce as
investors sought safety with the future of Greece's membership in the
euro zone in doubt after the vote. The Greek people today return this
ultimatum back to the creditors. From tomorrow, with this No, we will
extend a cooperation hand to our partners and call them one by one in
order to reach common ground. The Federal Reserve has said that
continued strengthening in the labor market is a key factor in
deciding when to start hiking interest rates.
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:
Oil prices fell sharply early on
Monday after Greece rejected austerity measures demanded in return
for bailout money and as China rolled out an unprecedented series of
steps to prevent a full-blown stock market crash. The result of the
Greek referendum put in doubt its continued place in the single
currency, pulling down the euro in early trading on Monday.
Uncertainty over Greece is bearish for oil. It adds an extra negative
factor on top of the turmoil in Chinese financial markets, the recent
rise in U.S. drilling rigs, and a potential increase in Iranian oil
supply, said Olivier Jakob, senior energy markets analyst at
Petromatrix in Zug, Switzerland.
BULLION & ENERGY
CS GOLD (AUGUST) OVERVIEW:
| ||||||||||||
TREND MIXED TO BEARISH
RESIST
2:26520
RESIST
1:26480
SUP1:26140
SUP2:26050
STRATEGY:
SELL ON RISE
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CS SILVER (SEPTEMBER) OVERVIEW:
| ||||||||||||
TREND
MIXED TO BEARISH
RESIST
2:35950
RESIST
1:35725
SUP1:
35145
SUP2:35000
STRATEGY:
SELL ON RISE
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CS CRUDE OIL (JULY) OVERVIEW:
| ||||||||||||
TREND MIXED TO BEARISH
RESIST
2:3670
RESIST
1:3640
SUP1:3480
SUP2:3440
STRATEGY:
SELL ON RISE
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BASE METAL
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