Gold, Silver, Copper, Crude Oil, Nat Gas And .DXY Down
$GLD, $SLV, $JJC, $USO, $UNG, $DXY
- 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
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.
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
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