Bullions:
Precious metals cut its gains on Tuesday after mixed U.S. economic data failed to give clarity on the prospects for a U.S. interest rate rise this year and the U.S. dollar pared losses from a seven-week low. Precious metals are trading lower on COMEX today. We can expect prices to trade range bound for the day as hawkish comments from U.S. Federal Reserve officials raised bets on a rate hike this year and traders awaits minutes of the last Fed policy meeting for more clues.

Gold Oct Sup 31325/31130 & Res 31577/31850
Silver Sep Sup 46050/45600 & Res 46600/47072

Energy:
Crude oil prices settled up nearly 2 percent on Tuesday, hitting five week highs for a second straight day as sources at OPEC spoke of Saudi Arabia’s desire for higher crude prices while Russia met the producer group to discuss the market. Crude oil is trading lower on NYMEX today. We can expect prices to trade range bound for the day as analysts doubted possible producer talks to rein in ballooning oversupply would be successful.

Crude Aug Sup 3076/3025 & Res 3130/3200
Natural Gas Aug Sup 173.50/171 & Res 175/179

Base Metals:
Industrial metals gained on Tuesday as speculators bought up metals after signals that U.S. interest rates might remain on hold put the dollar under pressure. Industrial metals are trading lower on International bourses today. We can expect prices to trade range bound for the day, with concerns looking for Julys meeting minutes for more clues of the rate hike in coming future, and as well as the demand-growth from top consumer China which is still shaky.

Aluminium Aug Sup 112/110 & Res 113.55/115.50
Copper Aug Sup 319.50/313 & Res 323.50/329
Nickel Aug Sup 681.50/670 & Res 689.50/900
Lead Aug Sup 124/121.50 & Res 126.30/129
Zinc Aug Sup 149.95/147.50 & Res 151.80/154

US Data for the Day:
08.00PM – Crude Oil Inventories (Frcst 0.3M, Prvs 1.1M)
10.30PM – FOMC Member Bullard Speaks
11.30PM – FOMC Meeting Minutes