Daily Market Report
➢ Gold gains momentum to near $4,400 as receding Fed hike bets undermine the USD, keeping prices close to the June 5 high.
➢ The USD weakens to near 99.50 as traders push back Fed rate hike expectations, with the Euro rallying to a two-month high eyeing 1.1600.
➢ Silver bulls await a decisive break above $66.00 and the 100-day EMA, which would signal a broader technical breakout.
➢ WTI posts modest gains above $81.50 as the US-Iran deadlock keeps supply uncertainty alive with no resolution in sight.
➢ Israel struck Lebanon as the US prepared fresh sanctions on Iran, widening the regional conflict beyond the Hormuz standoff.
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