Commodity Opening Bell 

Bullion - Opens on mixed Note Gold -30075-30080 Silver -41250-41300 

Energy - Opens on mixed Note Crude Oil -3150-3155 Natural Gas -192.90-193.10

Base Metals - Opens on mixed Note Copper -446.50-447 Nickel -783-784 Lead -149.40-149.50 Zinc - 198.70-199 Aluminium -134-134.30

COMMODITY MARKET NEWS

Precious Metals 

Precious Metals are likely to open flat and some profit-taking is likely to be seen as concerns over US debt ceiling subsided temporarily. The latest deal will provide government funding until Dec. 15. This led to some relief in global markets which had been grappling with geo-political tensions after North Korea conducted a nuclear test over the weekend. Economic data from the US also suggested that services sector activity remained firm in August owing to strong gains in new orders and employment. The odds of a December rate hike are near 36% and the Fed meeting later this month is unlikely to provide any surprises.

Base Metals 

Base metals closed up for yet another session after some consolidation during the days. LME copper edged back towards three-year highs as the dollar lost ground against the euro ahead of a European Monetary policy meeting later, while a brighter outlook for global manufacturing growth underpinned prices.

Energy 

Crude oil is likely to open slightly lower after yet another strong rally yesterday. Oil exports by the OPEC were 25.19 million barrels per day (bpd) in August, their lowest level since April. Prices also have been gaining as US refineries gear up for a return after being shut due to the Hurricane Harvey. Nearly 3.8 million barrels of daily refining capacity is still shut in but as refineries come back, more oil will be consumed and more products will be produced