Commodity Opening Bell Bullion - 

Opens on negative Note Gold - 27720-27740 Silver - 36250-36280 

Energy - Opens on mixed Note Crude Oil - 2880-2878 Natural Gas -189-189.40 

Base Metals - Opens on mixed Note Copper -378.80-379 Nickel -580-580.50 Lead -149-149.20 Zinc - 178.90-179 Aluminium -122.10-122.20

COMMODITY FUNDAMENTAL NEWS

We expect gold prices to trade sideways on the back of short covering after drop in prices. 

We expect silver prices to trade positive on the back of short covering after drop in prices. 

Oil prices rose modestly on Monday, but increased drilling activity in the United States and uncertainty over Libyan and Nigerian production cuts clouded the future supply outlook. The Organization of the Petroleum Exporting Countries and some nonOPEC members agreed in May to curtail production until March 2018, but the move has failed to eliminate a global glut of crude. Several key OPEC ministers will meet non-OPEC country Russia on July 24 in St Petersburg, Russia, to discuss oil markets.

Copper slipped to the lowest in two weeks on Monday as rising inventories indicated healthy supplies, outweighing worries about possible strikes at mines in Chile. Also pressuring the metals market was subdued inflation data in top market China as the economy loses momentum. China's producer price inflation was unchanged in June amid lingering oversupply issues in the steel sector and as signs of economic weakness weighed on the outlook for prices.