- Gold and silver prices fell while copper hit a three-week low due to signs of cooling in China and European holidays.
- The dollar index strengthened as the euro fell, but concerns over the euro zone debt crisis sustained gold demand.
- Upcoming US economic data includes retail sales, PPI, and business inventories which are expected to be mixed.
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MARKET WRAP
Gold fell to its lowest in more than a week on Monday
Silver slid 3 percent to $35 an ounce
Copper fell to a three-week low on Monday
LME copper stocks fall
Oil prices fell on Monday below 97$
The dollar index strengthened as the euro fell across the board
Natural Gas fall almost 2.5%
Gold fell to its lowest in more than a week on Monday as the euro eased against the
dollar, but concerns about the euro zone debt crisis sustained investor interest in the
precious metal as a store of value. Copper fell to a three-week low on Monday, dragged
down by signs of cooling in top consumer China and holidays across most of Europe.
ECONOMIC CALENDAR
Date Time Currency Economic Data Forecast Previous
Tue 4:30am USD FOMC Member Fisher Speaks
Jun 14
6:00pm USD Core Retail Sales m/m 0.3% 0.6%
6:00pm USD PPI m/m 0.1% 0.8%
6:00pm USD Retail Sales m/m -0.3% 0.5%
6:00pm USD Core PPI m/m 0.2% 0.3%
7:30pm USD Business Inventories m/m 0.9% 1.1%
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ALUMINIUM(JUNE)
Trend • Consolidate
Strategy • Sell on high
•R2 - 119.8
Resistance
•R1 - 117.5
•S1 - 114.7
support
•S2 - 111.5
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