1. Last Friday, the shocking non-agricultural employment data in June raised doubts about the trajectory of the Federal Reserve’s interest rate hike after July. Spot gold expanded its intraday gains, reaching as high as $1,934.89 per ounce, and then fell back, finally closing up 0.71% , at $1,924.28 an ounce, its first weekly gain in four weeks. Spot silver stood above the 23 mark, and finally closed up 1.39% to $23.05 per ounce.
2. The U.S. dollar index fell back to a low of more than two weeks, and finally closed down 0.824% to 102.28. The 10-year U.S. bond yield had a V-shaped reversal during the session, and finally closed at 4.066%.
3. International crude oil rebounded for the second consecutive week, hitting a nine-week high, due to the weakening of the US dollar and Saudi Arabia’s reiteration to maintain market stability. WTI crude oil finally closed up 2.58% at $73.63/barrel; Brent crude oil closed up 2.33% at $78.22/barrel.
4. U.S. stocks rebounded after opening slightly lower. The Dow closed down 0.55%, the S&P 500 closed down 0.28%, and the Nasdaq closed down 0.13%. The Nasdaq China Golden Dragon Index bucked the trend and closed up 3.2%, Alibaba rose more than 8%, Lufax rose more than 6%, and JD.com rose 4.9%.
5. China’s commodity futures closed mixed at night. Most energy and chemical products rose, PTA rose 2.08%, fuel oil rose 1.4%, staple fiber rose 1.37%, LPG rose 1.35%, and asphalt rose 1.14%. The black series fell across the board, iron ore fell 1.58%, coke fell 1.56%, and rebar fell 1.34%. Most agricultural products fell, soybean meal fell 1.51%, rapeseed meal fell 1.08%. Basic metals were mixed, Shanghai Aluminum rose 0.50%, Shanghai Copper rose 0.32%, Shanghai Lead fell 0.23%, Shanghai Tin fell 0.34%, Shanghai Zinc fell 0.55%, and Shanghai Nickel fell 1.10%.
6. International precious metal futures generally closed up. COMEX gold futures rose 0.79% to US$1930.5/oz, and COMEX silver futures rose 1.73% to US$23.285/oz.
7. International oil prices rose across the board, with the U.S. oil August contract up 2.6% to $73.67/barrel. The September Brent oil contract rose 2.26 percent to $78.25 a barrel.
8. LME base metals closed mixed, LME copper rose 1.27% to 8366.5 US dollars / ton, LME zinc fell 0.11% to 2361 US dollars / ton, LME nickel fell 2.02% to 20780 US dollars / ton, LME aluminum rose 0.56% to 20780 US dollars / ton 2141 US dollars / ton, LME tin fell 0.21% to 28470 US dollars / ton, LME lead rose 0.39% to 2058.5 US dollars / ton.
9. The main contracts of CBOT agricultural product futures generally closed down. Soybean futures fell 1.51% to 1319.25 cents per bushel; corn futures fell 1.97% to 496.5 cents per bushel; wheat futures fell 0.95% to 651.75 US dollars cent/bushel.
