Commodity News Letter For Today Free


Posted June 9, 2015 by capitalstar06

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BULLION:

Gold prices gained in Asia on Tuesday as weak prices in China paved the way for continued easy policy in one of the top buyers of the precious metal. Chinese consumer prices fell 0.2% in May, weaker than the flat reading expected, while producer prices edged down 4.6%, also weaker than the 4.5% decline seen. The data has been volatile of late and thus waning in importance as to market direction, but the People's Bank of China will take note with some policy reaction possible. China's National Bureau of Statistics said falling vegetable and egg prices dragged the CPI down by 0.39 percentage points.

BASE METAL:

As for this week’s price trends, 35% of industry insiders surveyed by SMM are bearish that LME copper will fall to USD 5,850/mt and SHFE copper to RMB 42,500/mt. Technical indicators showed resistance has enhanced after prices fell below several major moving averages, and the lack of buying support will push prices lower. Besides, markets are pessimistic about China’s economic figures due out this week, including the PPI and CPI. 65% see copper prices to move sideways with LME copper at USD 5,880-5,980/mt and SHFE copper at RMB 42,700-43,500/mt. SMM surveyed 34 large aluminum smelters and traders in China. 41% of them expect prices to stabilize this week: LME aluminum has found strong support, and should consolidate between USD 1,720-1,750/mt.

ENERGY:

Crude oil prices gained in Asia on Tuesday with investors noting the scope for China to ease monetary policy further after weak price data and ahead of U.S. supply data. Chinese consumer prices fell 0.2% in May, weaker than the flat reading expected, while producer prices edged down 4.6%, also weaker than the 4.5% decline seen. The data has been volatile of late and thus waning in importance as to market direction, but the People's Bank of China will take note with some policy reaction possible. China's National Bureau of Statistics said falling vegetable and egg prices dragged the CPI down by 0.39 percentage points.

CS GOLD (AUGUST) OVERVIEW:

TREND MIXED TO BEARISH
RESIST 2:26965
RESIST 1:26900
SUP1:26665
SUP2:26600
STRATEGY: SELL ON RISE

CS SILVER (JULY) OVERVIEW:

TREND MIXED TO BEARISH
RESIST 2:37420
RESIST 1:37300
SUP1: 36600
SUP2:36260
STRATEGY: SELL ON RISE

CS CRUDE OIL (JUNE) OVERVIEW:

TREND MIXED TO BEARISH
RESIST 2:3835
RESIST 1:3775
SUP1:3710
SUP2:3655
STRATEGY: SELL ON RISE

CS NATURAL GAS (JUNE) OVERVIEW:

TREND MIXED TO BULLISH
RESIST 2:178
RESIST 1:175
SUP1:166
SUP2:163
STRATEGY: BUY ON DIPS

CS COPPER (JUNE ) OVERVIEW:

TRENDMIXED TO BEARISH
RESIST 2: 389
RESIST 1: 387
SUP 1: 382
SUP 2: 380
STRATEGY: SELL ON RISE

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Issued By CapitalStars Financial Research
Website CapitalStars
Phone 6669900
Business Address Plot No.12, Scheme No. 78, Part-II, Vijay Nagar, INDORE – 452010 M. P.
Country India
Categories Business , Finance
Tags base metal , bullion market , future option , share market , stock cash
Last Updated June 9, 2015