The US Payrolls Bring New Hope for Gold
The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
Crude prices head south further in Asia on API build in crude inventories
On Wednesday, crude dipped further in Asia because industry data cast a shadow on American demand prospects after inventories suddenly inched up.
June delivery crude futures went down 0.97%, trading at $48.19 in New York, following the API figures. Brent futures lost 0.81%, being worth $51.23 a barrel in London.
American crude inventories inched up 882,000 barrels at the end of the previous week, as the American Petroleum Institute informed on Tuesday. It’s compared to a slide of 2.3 million barrels observed and the previous week's data, which showed a 5.789 million barrels dip.
Distillate stocks soared 1.79 million barrels, while gasoline supplies dipped 1.78 million barrels. Then, supplies at Cushing, Oklahoma, edged down by 540,000 barrels. Financial experts expected a 1.050 million barrels descend in distillates and also an 731,000 barrels sag in gasoline supplies.
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