GOLD
Gold prices eased slightly in early Asia on Friday as
investors continued to assess the likely timing of a Federal Reserve rate hike
expected this year. On the Comex division of the New York Mercantile Exchange,
gold for December delivery eased 0.06% to $1.088.10 a troy ounce. On Wednesday,
the Federal Open Market Committee (FOMC) concluded its two-day July meeting
without offering any indications on whether it will adjust its benchmark
Federal Funds Rate later this fall. U.S. short-term interest rates have
remained level between zero and 0.25% for nearly six years since the end of the
Financial Crisis. Nearly a decade has passed since the Federal Reserve last
instituted a rate hike.
BASE METAL
The IMF said it will not provide Greece a third round of aid
due to the country’s large debt scale and inefficiency in reform execution.
German officials believe the German Bundestag will unlikely approve the EUR 86
billion bailout fund for Greece without the support from the IMF. Germany’s
unemployment increased 9,000 in July, lower than the 5,000 expected, with the
unemployment rate unchanged at 6.4%, which is in line with market expectations.
Euro zone July CCI fell 7.1, flat at June’s and in compliance with market
anticipation. LME copper prices fell to USD 5,210/mt as the US dollar index
rose and market was still affected by the weak Chinese shares. LME copper
closed at USD 5,257/mt, down by USD 69/mt.
CS NATURAL GAS (AUGUST) OVERVIEW:
CS COPPER (AUGUST ) OVERVIEW:
TREND :BEARISH
RESIST 2:345
RESIST 1:342
SUP1:338
SUP2:335
STRATEGY: SELL ON RISE
TREND :BEARISH
RESIST 2:345
RESIST 1:342
SUP1:338
SUP2:335
STRATEGY: SELL ON RISE
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