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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