*Crudeoil Update As On 27.06.2025 (CMP: 65.60$)*
Crude oil rose for a third consecutive session near $65.80 per barrel, helped by summer fuel demand and a softer dollar. However, it remains poised for its steepest weekly decline since March 2023. The market saw wild swings this week, initially spiking after U.S. strikes on Iranian nuclear sites before retreating on news of a ceasefire brokered by President Trump. Traders remain cautious, especially after Trump acknowledged that sanctions haven’t stopped China’s Iranian oil imports. Attention now turns to upcoming U.S.-China trade negotiations and the OPEC+ meeting on July 6.
*Key economic data slated for release includes* Spanish Flash CPI y/y, ECB President Lagarde Speaks from Euro Zone and Core PCE Price Index m/m, Revised UoM Consumer Sentiment, Personal Income m/m from US Zone.
*Support n Resistance*
Crudeoil$ prices look to get support at 64$ and resistance at 67$.
Crudeoil MCX prices look to get support at 5480 and resistance at 5750.
*Action:* Sell on jump around 66$, targeting 64.60$ and implement a stop loss above 67$.
*Gold Update As On 27.06.2025 (CMP: 3305$)*
Gold prices dropped to around $3,305 per ounce, extending weekly losses even as the dollar remained subdued. Investors digested mixed US economic signals: a revised 0.5% GDP contraction in Q2 and dovish Fed expectations clashed with robust jobless and durable goods data. Fed Chair Powell hinted at possible rate cuts if new tariffs are delayed past July 9, while reports suggest President Trump may announce a new, dovish Fed Chair nominee by fall. Meanwhile, declining geopolitical risk in the Middle East further dented gold's safe-haven demand, setting bullion up for a second consecutive weekly loss.
*Key economic data slated for release includes* Spanish Flash CPI y/y, ECB President Lagarde Speaks from Euro Zone and Core PCE Price Index m/m, Revised UoM Consumer Sentiment, Personal Income m/m from US Zone.
*Support n Resistance*
Gold$ prices look to get support at 3270$ and resistance at 3340$.
Gold MCX prices look to get support at 96400 and resistance at 97800.
*Action:* Sell on jump around 3315$, targeting 3275$ and implement a stop loss above 3340$.
*Silver Update As On 27.06.2025 (CMP: 36.60$)*
Silver prices remained strong above $36.60 per ounce, boosted by a weakening US dollar and declining Treasury yields. Investors grew more confident about potential Fed rate cuts after Chair Jerome Powell reiterated a cautious stance, stating that absent tariff-driven inflation risks, the central bank would likely have resumed monetary easing. Meanwhile, easing geopolitical tensions and scheduled US-Iran talks also helped calm markets. Robust industrial demand and persistent supply constraints added further support, with silver gaining nearly 10% in June—far outperforming gold’s 1% rise.
*Key economic data slated for release includes* Spanish Flash CPI y/y, ECB President Lagarde Speaks from Euro Zone and Core PCE Price Index m/m, Revised UoM Consumer Sentiment, Personal Income m/m from US Zone.
*Support n Resistance*
Silver$ prices look to get support at 36.10$ and resistance at 37.10$.
Silver MCX prices look to get support at 105200 and resistance at 108000.
*Action:* Sell on jump around 36.80$, targeting 36.20$ and implement a stop loss above 37.10$.
Crude oil rose for a third consecutive session near $65.80 per barrel, helped by summer fuel demand and a softer dollar. However, it remains poised for its steepest weekly decline since March 2023. The market saw wild swings this week, initially spiking after U.S. strikes on Iranian nuclear sites before retreating on news of a ceasefire brokered by President Trump. Traders remain cautious, especially after Trump acknowledged that sanctions haven’t stopped China’s Iranian oil imports. Attention now turns to upcoming U.S.-China trade negotiations and the OPEC+ meeting on July 6.
*Key economic data slated for release includes* Spanish Flash CPI y/y, ECB President Lagarde Speaks from Euro Zone and Core PCE Price Index m/m, Revised UoM Consumer Sentiment, Personal Income m/m from US Zone.
*Support n Resistance*
Crudeoil$ prices look to get support at 64$ and resistance at 67$.
Crudeoil MCX prices look to get support at 5480 and resistance at 5750.
*Action:* Sell on jump around 66$, targeting 64.60$ and implement a stop loss above 67$.
*Gold Update As On 27.06.2025 (CMP: 3305$)*
Gold prices dropped to around $3,305 per ounce, extending weekly losses even as the dollar remained subdued. Investors digested mixed US economic signals: a revised 0.5% GDP contraction in Q2 and dovish Fed expectations clashed with robust jobless and durable goods data. Fed Chair Powell hinted at possible rate cuts if new tariffs are delayed past July 9, while reports suggest President Trump may announce a new, dovish Fed Chair nominee by fall. Meanwhile, declining geopolitical risk in the Middle East further dented gold's safe-haven demand, setting bullion up for a second consecutive weekly loss.
*Key economic data slated for release includes* Spanish Flash CPI y/y, ECB President Lagarde Speaks from Euro Zone and Core PCE Price Index m/m, Revised UoM Consumer Sentiment, Personal Income m/m from US Zone.
*Support n Resistance*
Gold$ prices look to get support at 3270$ and resistance at 3340$.
Gold MCX prices look to get support at 96400 and resistance at 97800.
*Action:* Sell on jump around 3315$, targeting 3275$ and implement a stop loss above 3340$.
*Silver Update As On 27.06.2025 (CMP: 36.60$)*
Silver prices remained strong above $36.60 per ounce, boosted by a weakening US dollar and declining Treasury yields. Investors grew more confident about potential Fed rate cuts after Chair Jerome Powell reiterated a cautious stance, stating that absent tariff-driven inflation risks, the central bank would likely have resumed monetary easing. Meanwhile, easing geopolitical tensions and scheduled US-Iran talks also helped calm markets. Robust industrial demand and persistent supply constraints added further support, with silver gaining nearly 10% in June—far outperforming gold’s 1% rise.
*Key economic data slated for release includes* Spanish Flash CPI y/y, ECB President Lagarde Speaks from Euro Zone and Core PCE Price Index m/m, Revised UoM Consumer Sentiment, Personal Income m/m from US Zone.
*Support n Resistance*
Silver$ prices look to get support at 36.10$ and resistance at 37.10$.
Silver MCX prices look to get support at 105200 and resistance at 108000.
*Action:* Sell on jump around 36.80$, targeting 36.20$ and implement a stop loss above 37.10$.
Mirae Asset Sharekhan Morning Tiger - 27th June 2025.pdf
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Document from Dr. Subhransu Sekhar Jena