INTERNATIONAL COMMODITY NEWS :
- Copper futures under pressure as Greece jitters weigh
- Crude oil futures struggle for direction ahead of Greece debt talks .
- Gold prices bounced off a three-week low on Thursday, as uncertainty over the future of Greece boosted the safe-haven appeal of the precious metal. Investors nervously eyed developments in Greece’s debt talks ahead of the looming deadline for Greece to repay €1.6 billion to the International Monetary Fund on June 30
- Oil prices were steady on yesterday as an unexpected build in U.S. gasoline inventories offset a higher than forecast draw in crude stocks, while Brent was supported by a stronger euro.
ECONOMY NEWS :
- The European Central Bank held a crucial cash lifeline for Greece unchanged on Thursday, a person familiar with the discussion said, as the head of the Bundesbank objected to the way Greek banks are being funded. ECB policy-setters held the limit on their emergency funding for the banks steady for the second day running, a source familiar with their talks said, having previously increased it steadily over many weeks.
- Greece and EU finance ministers hit a new impasse on Wednesday as creditors accused Athens of failing to compromise despite a looming default next week that risks bouncing it out of the euros.
TRADING STRATEGY :
- BUY GOLD ABOVE 1176 TARGET 1181 1187 SL 1170
- SELL GOLD BELOW 1172 TARGET 1167 1161 SL 1178