TODAY COMMODITY MARKET NEWS REPORT 20 SEPT 2017. | CAPITAL WAYS FINANCIAL SERVICES

COMMODITY MARKET NEWS

Gold was flat on Tuesday, barely budged from the prior session's twoweek low, with trading lackluster as Federal Reserve policy makers headed into a two-day meeting that financial markets will watch for clues on the outlook for U.S. monetary tightening. Trading volume was "slightly softer, which is generally to be expected ahead of the Fed," said Suki Cooper, precious metals analyst at Standard Chartered Bank in New York.

We expect silver prices to trade negative on the back of relief from North Korea’s Missile tests.

Oil prices ended lower on Tuesday, retreating from near five-month highs ahead of a meeting between key oil producers on the outlook for further supply cuts. The market, however, remained buoyant ahead of Friday's meeting between the Organization of the Petroleum Exporting Countries and non-OPEC producers to discuss the state of their 1.8-million barrel-perday supply cut deal.

Nickel prices fell on Tuesday towards the one-month lows hit last week as funds took profits, but concern about supplies from the Philippines and healthy demand, particularly from Chinese stainless steel mills, are expected to lend support. Philippine lawmakers last month filed a bill seeking to ban mining in watershed areas and exports of unprocessed ores and require miners to get legislative approval before operating. The Philippines is the world's top nickel ore supplier. Data from the International Nickel Study Group showed the nickel market deficit at 400 tonnes in June compared with a 6,700 tonne shortfall in May.