Asia Premarket Gold, Silver and Crude Oil Trading

US Gold futures prices finished pit trade higher Tuesday on Short covering, bargain hunting, technical buying and new safe-haven investment demand.

Aug Gold last traded + 15.20 at 1,612.00 oz.

Spot Gold was last quoted + 14.80 at 1,611.50 oz.

Jul Comex silver last traded + 0.259 at 28.875 oz.

Traders were in a risk-on mode Tuesday, as seen by firmed up US stock index prices and weaker US Treasury prices.

Traders are anxious ahead of Sunday's Greek elections. There was fresh safe-haven investment demand surface Tuesday due to the EU situation. Gold market Bulls were pleased to see their metal act more like a safe-haven asset Tuesday.

In other news, reports overnight said investors are starting to put money back into Gold-related exchange traded funds.

There are reports of better demand for physical Gold coming out of Asian countries including China

The USD index traded mixed and then slightly lower on Tuesday. The "Greenback" Bulls are fading in here.

Nymex Crude Oilfutures prices were mixed to firmer on Monday after hitting a fresh 8-month low overnight.

Crude Oil remains in an overall Bearish fundamental and technical mode. WTI Oil 83.32 +0.62 (0.75%)

The LondonGold fix is 1,603.50 vs the prior LondonPM fixing at 1,584.00

 CFB REPORT

Asad Khan
Financial Analyst  (CFB)
050-8774861
asad@cfb.ae