INTERNATIONAL COMMODITY NEWS :
• Gold futures fell on Friday after data revealed the U.S. economy saw an uptick in new job creation in May, though a European Central Bank decision to loosen policy on Thursday cushioned the yellow metal’s losses. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at 1,252.20 a troy ounce during U.S. trading, down 0.09%, up from a session low of $1,246.10 and off a high of $1,257.60. The August contract settled up 0.72% at $1,253.30 on Thursday.
• Silver for July delivery was down 0.45% at $18.998 a troy ounce, while copper futures for July delivery were down 1.09% at $3.057 a pound.
• Crude oil prices eased slightly in Asia on Friday ahead of U.S. data expected to show a gain of 218,000 jobs, underpinning continued strength for the dollar. On the New York Mercantile Exchange, U.S. Crude oil for delivery in July traded at $102.45 a barrel, down 0.03%, after falling to a session low of $101.61 a barrel, the weakest level since May 21, before trimming losses.
• The ICE Brent oil contract erased early losses and rose 0.4% to $108.79, ending four straight losing sessions.
• Natural gas futures turned lower on Thursday, after data showed that U.S. natural gas supplies rose more than expected last week. On the New York Mercantile Exchange, natural gas for delivery in July shed 0.59%, or 2.8 cents, to trade at $4.613 per million British thermal units during U.S. morning hours. Futures traded at $4.663 prior to the release of the supply data. Prices rose to a daily high of $4.688 per million British thermal units earlier, the most since May 8. Natural gas futures ended Wednesday’s session up 0.24%, or 1.1 cents, to settle at $4.640.
TRADING STRATEGY :
COPPER-COMEX has closed @ 3.0555. If it breaks the level of 3.0524, it can touch the level of 3.0424 & 3.0268 respectively. If it sustain above the level of 3.0788, it can touch the level of 3.0888, 3.1035 respectively.
- SELL COPPER-COMEX BELOW 3.0524 TGTS 3.0424, 3.0268 SL 3.0634.
- BUY COPPER-COMEX ABOVE 3.0788 TGTS 3.0888, 3.1035 SL 3.0678.