BillyT's Daily Gold-Silver-Oil Trading Commentary for 5 July 2007

BillyT's Daily Gold-Silver-Oil Trading Commentary for 5 July 2007

GOLD / SILVER:

Gold came off vis-à-vis the U.S. dollar today as the yellow metal tested bids around the US$ 648.45 level and was capped around the $656.65 level. The U.S. dollar’s intraday gains contributed to gold’s sell-off. Silver weakened vis-à-vis the U.S. dollar as the pair tested bids around the US$ 12.48 level and was capped around the $12.68 level.

CRUDE OIL:

Crude oil moved higher vis-à-vis the U.S. dollar today as light, sweet NYMEX crude oil futures for August delivery tested offers around the US$ 72.26 level and were supported around the $71.25 level. Traders await weekly U.S. inventories data to determine if crude stocks declined last week as expected.


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