- Gold posted a 2.33% weekly drop and copper prices rose 1% on optimism about China's demand.
- The dollar gained almost 1% against the euro due to concerns about Greece's ability to pass austerity measures.
- Brent crude fell 2% as Europe's debt problems weighed on oil prices, despite countries tapping strategic reserves.
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MARKET WRAP
Gold posts 2.33 pct weekly drop
The dollar gained almost 1 percent for the week
Copper ends up 1 pct on China demand optimism
Brent crude prices fell 2 percent on Friday
Dollar index strengthens, helps pressure oil
Gold slumped for a second day on Friday to conclude its worst week in eight, crashing
through key technical supports, as investors shed riskier assets and bought the dollar on
heightened concerns over Greek debt. The dollar gained almost 1 percent for the week
versus the euro on worries that Greece's parliament will not approve a package of
austerity measures next week. Copper rose to a one-week high on Friday after better-
than-expected economic data from the U.S. and Greece's deal with international lenders
lifted equity markets and risk appetite. Brent crude prices fell 2 percent on Friday as
Europe's debt problems and a dollar index rebound extended oil's decline a day after
consuming nations announced they were tapping strategic reserves.
ECONOMIC CALENDAR
Date Time Currency Economic Data Forecast Previous
Mon 8:30am USD Core PCE Price Index m/m 0.2% 0.2%
Jun 27
8:30am USD Personal Spending m/m 0.2% 0.4%
8:30am USD Personal Income m/m 0.4% 0.4%
11:00am USD FOMC Member Kocherlakota
Speaks
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ALUMINIUM(JUNE)
Trend • Consolidate
Strategy • Sell on high
•R2 - 116.8
Resistance
•R1 - 113.5
•S1 - 110.3
support
•S2 - 108.5
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