OIL EDGES UP AS LOWER US PRODUCTION | COMMODITY MARKET NEWS & LEVELS OUTLOOK REPORT 13 OCT 2017.
INVENTORIES POINT TO TIGHTER MARKET
Bullion - Opens on negative Note Gold -29800-29805 Silver -40300-40320
Energy - Opens on mixed Note Crude Oil -3314-3310 Natural Gas -194.50-195
Base Metals - Opens on negative Note Copper -447-446.50 Nickel -736-738 Lead -165.65-165.50 Zinc - 214-214.20 Aluminium -138.70-138.80
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| BULLION TIPS PROVIDERS |
Precious metals are trading higher on COMEX today. We expect prices to
trade range bound for the day as investors wait for key U.S. inflation data for
clues on the outlook for potential hikes in U.S. interest rates.
Industrial metals are trading mix on International bourses today. We expect
prices to trade range bound for the day, on bets China's Communist Party
congress next week will result in stronger demand for imports.
Crude oil is trading higher on NYMEX today. We expect prices to trade
higher for the day as both U.S. crude production and inventories declined,
pointing towards a tightening market.
Crude oil prices rebounded from
earlier losses, but ended lower on
the day, after the Energy
Department reported a larger-thanexpected
decline in U.S. inventories
and a falloff in weekly production
on Thursday
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