- Gold hit a new record high for the second day as the dollar slid against other currencies after hints of more Fed easing and a Moody's warning about the US credit rating.
- Silver rose 2% and US jobless claims fell while retail sales rose, but copper eased on concerns about the strength of the US economic recovery.
- The newsletter provides technical analysis views on commodities like gold, silver, copper, crude oil, and agricultural commodities, noting resistance and support levels.
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MARKET WRAP
Gold hits record after Moody's warning
Dollar slides against currency basket
Silver rose 2 percent
U.S. jobless claims fall, retail sales up
Copper eases on economic recovery concerns
Gold prices hit record highs for a second day on Thursday after hints of further policy
easing from the Federal Reserve and a Moody's warning the United States may lose its
top-notch credit rating hurt the dollar and sparked buying of safe-haven assets. .S. crude
ticked up and Brent pared losses in choppy trading on Thursday due to a weak dollar and
better-than-expected U.S. jobs and retail data. Copper slipped on Thursday on the
London Metal Exchange, as concerns over the health of the world's largest economy, the
United States, offset worries over supply constraints and prospects of improving demand
growth in the second half in Asia.
ECONOMIC CALENDAR
Date Time Currency Economic Data Forecast Previous
Fri 6:00pm USD Core CPI m/m 0.2% 0.3%
Jul 15
6:00pm USD CPI m/m -0.1% 0.2%
6:00pm USD Empire State Manufacturing Index 4.5 -7.8
6:45pm USD Capacity Utilization Rate 77.0% 76.7%
6:45pm USD Industrial Production m/m 0.4% 0.1%
7:25pm USD Prelim UoM Consumer Sentiment 72.5 71.5
7:25pm USD Prelim UoM Inflation Expectations 3.8%
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ALUMINIUM(JULY
JULY)
Trend • Consolidate
Strategy • Sell on high
•R2 - 114.8
Resistance
•R1 - 112.3
•S1 - 109.5
support
•S2 - 106.8
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