DAILY COMMODITY MARKET STRATEGY- 1 June 2016

Commodity Trading Tips
Gold Extends Gains As Dollar, Asian Stocks Weaken

Gold rose early on Wednesday after closing up the previous day for the first time in ten sessions, supported by an easing dollar and weaker Asian stocks.

FUNDAMENTALS

-Spot gold had climbed 0.2 percent to $1217.08 per ounce by 0037 GMT. Bullion gained 0.8 percent on Tuesday in its biggest one-day gain since May 13.

-U.S. gold was up 0.2 percent at $1219.8.

-Asian stocks sagged on Wednesday as a slip in crude oil prices dampened investors' appetite for riskier assets, while the recently bullish dollar stalled against the euro and yen following a mixed bag of U.S. economic data.

-MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent.

The dollar index pulled back from Monday's two-month peak of 95.895 to stand at 95.802.

-U.S. consumer spending recorded its biggest increase in more than six years in April as households stepped up purchases of automobiles, suggesting an acceleration in economic growth that could persuade the Federal Reserve to raise interest rates soon.

-The U.S. economy is on track to grow by a 2.9 percent annualised rate in the second quarter following surprisingly strong data on domestic personal spending in April, Atlanta Federal Reserve's GDPNow forecast model showed on Tuesday.

MARKET REPORT

-Oil prices dipped on Tuesday as a stronger dollar and slide in equity prices sparked profit-taking, but crude futures posted a fourth straight monthly gain as investors bet the global glut was slowly easing.

Get Free Silver Tips With Profitable Calls By Our Expert Researcher, Amazing MCX Bullion Tips, Profitable Commodity Trading Tips, Sureshot Profit Crude Oil Tips...

For More Detail You Can Call At:- 0731-6669900, 6790000 

0 comments: