Gold, Silver, Copper, Crude Oil, Nat Gas And .DXY Down

Posted by: : Paul EbelingPosted on: June 3, 2015 Gold, Silver, Copper, Crude Oil, Nat Gas And .DXY Down

Gold, Silver, Copper, Crude Oil, Nat Gas And .DXY Down


  • WTI Crude Oil lost 1.59 to 59.69 bbl
  • July Nat Gas finished – 2.6% at 2.63 MMBtu
  • Aug Gold fell 10.20 to 1184.50 oz
  • Jul Silver -0.34 at 16.47 oz
  • Copper lost 0.01 to 2.73 lb


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Wednesday, US Gold prices finished pit trade lower. .DXY fell from its overnight highs to trade lower in US, Gold and Silver saw no benefit.

The US ADP national employment report was released and came in at up 201,000 in May, a miss to the Southside.

The sharp sell-off in the US Treasury markets this week flashed caution lights to the Gold and Silver Bulls. The rising Treasury yields Fed hints that interest rates will rise sooner rather than later.

The European Central Bank (ECB) meeting in Frankfurt, Germany Wednesday saw no changes to Eurozone monetary policy.

Reports say meetings between Greece and its European Union and International Monetary Fund creditors this week have made good progress and terms of a draft deal have been reached and could be finalized late this week. Many skeptical European market watchers have heard positive news reports on the matter before, with little  to no results.

The London PM Gold Fix is 1,190.00 Vs the AM Gold Fix at 1,186.60.

Technically speaking

August Gold futures closed near the session low and hit a 4-wk low Wednesday.

Gold Bulls next Northside objective is a close above resistance at 1,204.70.

Gold Bears next Southside objective is a close below support at 1,170.00.

1st resistance is seen at 1,190.00, then at 1,195.60.

1s support is seen at 1,179.10, then at 1,170.00

Stay tuned…


Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

Trade FX, Equities and Options with the World's Leading Platform , call our trade desk 631 482 0376, or contact us to get started.

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