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Commodity News Letter For Today

We are Provide Research Calls On All Segments Of Share Market Like  Commodity News Letter, base metal, equity market, future & options, as well as forex market.

GOLD NEWS

gold

Gold prices fell as investors digested regional prices data out of China as well as steps to support stock markets there, jobs data from Australia and the ongoing efforts to bailout Greece ahead of a Sunday deadline. The People’s Bank of China on Thursday provided liquidity to China Securities Finance Corp via re-lending at its request, state-run Xinhua News Agency reported. Eurogroup President and European Stability Mechanism Chairman Jeroen Dijsselbloem sent a letter to the top euro zone economic officials asking them to assess Greece’s request for a stability loan. Silver for September delivery eased 0.65% to $15.065 an ounce.

BASE METAL

copper

Shanghai base metal prices tumbled on Wednesday due to the spillover effect from tumbling stock market. Will the loss continue into today’s market? The Shanghai Composite Index fell 5.9% yesterday, and China’s futures market also plunged across the board. “Base metal prices on the SHFE are expected to rally Jul. 9 due to short covering,”.   The movement in China’s stock market should be also closely watched, SMM understands, after new measures have been rolled out to tame stock market. China’s regulators combined to stabilize market. China Securities Finance Corp has provided RMB 260 billions in credit to 21 brokerages to help them buy stocks via proprietary trading, the  securities regulator said.

ENERGY NEWSenergy

Crude prices gained in Asia on Thursday, lifted by data showing an increase in China consumer prices and on new support to the country’s beleagured share markets. The PBOC will also let the CSFC issue financial bonds, including short-term commercial paper in the interbank market, and pledged to continue to provide liquidity support to CSFC via various channels. An outflow of Iranian oil could depress crude prices in a global market already oversaturated by a glut of oversupply.

BULLION & ENERGY

CS GOLD (AUGUST) OVERVIEW:gold

TREND MIXED TO BEARISH
RESIST 2: 26360
RESIST 1: 26285
SUP 1: 25950
SUP 2: 25790
STRATEGY: SELL ON RISE

CS SILVER (JULY) OVERVIEW:

silver-1TREND MIXED TO BEARISH
RESIST 2:35680
RESIST 1:35255
SUP1:34450
SUP2:33970
STRATEGY : SELL ON RISE

CS CRUDE OIL (JUNE) OVERVIEW:

crude oil

TREND MIXED TO BEARISH
RESIST 2:3380
RESIST 1:3340
SUP1:3250
SUP2:3185
STRATEGY: SELL ON RISE

CS NATURAL GAS (JUNE) OVERVIEW:

Natural-Gas

TREND MIXED TO BEARISH
RESIST 2:177
RESIST 1:175
SUP1: 170
SUP2:167
STRATEGY: SELL ON RISE

BASE METAL

base metals

CS COPPER (JUNE ) OVERVIEW:

TREND MIXED TO BEARISH
RESIST 2:358
RESIST 1:355
SUP1:346
SUP2:344
STRATEGY: SELL ON RISE

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