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Bullion: Gold was trading near a three-week low on Thursday as the
dollar rose after minutes from the Federal Reserve policy meeting showed the
U.S. central bank could raise rates as soon as next month. Spot gold XAU= was
little changed at $1,258 per ounce.
Gold is
highly sensitive to rising interest rates, which increase the opportunity cost
of holding it. It has rallied nearly 20 percent this year on expectations that
the Fed has slowed the pace of rate hikes due to global uncertainty.
"OUTLOOK: SELL SILVER
BETWEEN 41400-41500 TGT 40600-40200 SL 41900"
|
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
|
Gold
|
29840
|
29950
|
30122
|
30188
|
BEARISH
|
29800-30150
|
|
Silver
|
40400
|
40700
|
41240
|
41500
|
BEARISH
|
40400-41370
|
Energy: oil prices had risen about 1 percent on
Wednesday, hitting new 2016 highs, as the market focused on large draw
downs in U.S. refined fuel inventories and ignored a surprise build in
crude stockpiles. Strong dollar keeps prices capped.
|
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
|
Crude
oil
|
3191
|
3230
|
3292
|
3315
|
SIDEWAYS
|
3150-3295
|
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