Gold, Silver, Copper, Crude Oil, Nat Gas Finished Down

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

WTI Crude Oil finished -1% to 60.74 bbl
Nat Gas ended down 2.1% to 2.83 MMBtu
COMEX Copper finished down 2.9% at 2.67/lb
Aug Gold closed -0.7% at 1180 oz
Jul Silver off 0.1% to 15.95 oz

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Commentary

Thursday, US Gold prices finished pit trade lower on a higher USD, and lower Crude Oil prices.

European stocks were higher Thursday on some renewed optimism on the Greece-EU/IMF debt negotiations. The ECB has extended more emergency loan funding to Greece. But, no formative agreement has been reached on restructuring Greece’s debt.

China’s industrial production was up 6.1% in May. Fixed-asset investment was up 9.9% in May and housing starts were up 30% in May, Y-Y. Auto sales were up 1.2% in May, which was the slowest pace in 4 years. Thursday’s China data was deemed slightly upbeat.

Market watchers believe China’s central bank will soon implement more stimulus measures to boost the world’s 2nd-largest economy.

Asian stock markets were supported on the China news, and on news South Korea and New Zealand lowered their Key interest rates.

Crude Oil prices pulled back Thursday after hitting a 4-wk high Wednesday.

The London PM Gold Fix is at 1,178.50 Vs the AM Fix at 1,180.50.

Technically speaking

Aug Gold futures prices closed mid-range Thursday.

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 1,161.00.

1st resistance is seen at 1,187.40, then at 1,191.80.

1st support is seen at 1,174.80, then at 1,168.50.

Stay tuned…

HeffX-LTN