BULLION:
Gold prices eased in Asia on Thursday with a referendum
on Greece's debt bailout terms set to go ahead and investors awaiting
the results. Speculation that Greece would cancel a snap referendum
due to be held on July 5 on whether to accept the terms proposed by
lenders for extending the country’s bailout was denied by Prime
Minister Alexis Tsipras. On the Comex division of the New York
Mercantile Exchange, gold for August delivery fell 0.13% to $1,167.80
a troy ounce. Analysts also expect the unemployment rate to tick down
0.1% to 5.4% after edging up to 5.5% in May.
BASE METAL:
Jinchuan Group raised ex-works prices of nickel to
89,300 yuan per tonne on July, 2.Major macroeconomic news released
overnight was positive as a whole, with base metals prices rising
despite a stronger US dollar index. US major economic indicators
released overnight were upbeat. Construction spending in May was up
0.8% MoM, and seasonally adjusted annualized construction spending
was USD 1.04 trillion. ISM manufacturing index in June rose from 52.8
in May to 53.5, hitting a five-month high. Employment index increased
3.8 to 55.5, and new orders index climbed from 55.8 to 56.0.
ENERGY:
Crude oil held slightly weaker in
Asia on Thursday as regional investors digested the implications of a
build in U.S. stockpiles and the scope for demand globally.
Dollar-denominated commodities such as crude become more expensive
for foreign purchasers when the dollar appreciates. Also on
Wednesday, NBC News refuted earlier reports in the day of
breakthroughs in Iranian Nuclear negotiations. Quoting unnamed U.S.
government sources, NBC dismissed the earlier reports as lacking
accuracy. The reports were believed to contribute to Wednesday's
sell-off in crude.
BULLION & ENERGY
CS
GOLD (AUGUST) OVERVIEW:
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TREND
MIXED TO BEARISH
RESIST
2:26670
RESIST
1:26620
SUP1:26350
SUP2:26240
STRATEGY:
SELL ON RISE
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CS
SILVER (JULY) OVERVIEW:
|
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TREND
MIXED TO BEARISH
RESIST
2:36230
RESIST
1:36090
SUP1:
35270
SUP2:35020
STRATEGY:
SELL ON RISE
|
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CS
CRUDE OIL (JULY) OVERVIEW:
|
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TREND
MIXED TO BEARISH
RESIST
2:3830
RESIST
1:3795
SUP1:3600
SUP2:3560
STRATEGY:
SELL ON RISE
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BASE
METAL
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