PRECIOUS METALS: Precious metals prices are higher to a fresh six-week high on yesterday, as disappointing jobs data dimmed the prospects for aggressive U.S. interest rate increases, even though it was unlikely to deter a rate hike at this month’s Federal Reserve policy meeting.
ENERGY: Crude oil prices are lower on yesterday, as markets digested impact of the decision by some GCC countries to cut ties with Qatar over its alleged role in funding of extremists. The dispute between Qatar and other Arab countries like Bahrain, Saudi and UAE is likely to impact OPEC unity and has raised questions about sustainability of the OPEC deal to cut output
BASE METALS: Base metals prices are lower on yesterday, extending last month’s losses, as the dollar recovered and investors eyed an increase in Shanghai inventories, while zinc tracked renewed weakness in steel markets. U.S. services sector activity slowed in May as new orders tumbled, but a jump in employment to near two-year high pointed to sustained labour market strength despite deceleration in job growth last month.
Sell COPPER JUN Below 363 Targets 359/355 Stoploss 367