Gold, Copper, Crude Oil, Nat Gas Up, Silver Unchanged

$GLD, $SLV, $JJC, $USO, $UNG

Jul WTI Crude Oil closed +3.4% to 60.12 bbl
Nat Gas futures closed up 4.8% to finish at 2.84 MMBtu
Aug Gold finished +0.4% to 1177.60 oz
Jul Silver Unchanged at 15.96 oz
Jul COMEX Copper finished +0.4% at 2.71 lb

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Commentary

Tuesday, Gold prices finished pit trade higher. .DXY softened, and Crude Oil prices finished higher.

The Gold market saw some safe-haven buying interest as world stock markets are cautious in here, S&P 500 stymied at the 100-Day MA resistance.

In overnight news

China’s consumer price inflation for May came in at up 1.2% in May, Y-Y, Vs up 1.5% in April. Producer prices fell 4.6% in May, Y-Y. This data has deflationary tones and will put more pressure on the PBOC to stimulate . Asian stock markets were pressured on thenews.

In the European Union,

The bloc’s GDP rose just 0.4% in Q-1 Vs Q-4 of Y 2014. The report was seen as downbeat and European stock markets sold on the news.

The London PM Gold Fix is 1,177.40 Vs the London AM Fix at 1,181.00.

Technically speaking

Aug Gold futures prices closed near mid-range Tuesday.

Gold Bulls next Northside objective is a close above resistance at 1,200.00.

Gold Bears next Southside objective is a close below support at 1,143.80.

1st resistance is seen at 1,182.30, then at 1,190.00.

1st support is seen at 1,171.80, then at 1,168.50.

Stay tuned…

HeffX-LTN

Paul Ebeling