COMMODITY OPENING BELL 

Bullion - Opens on negative Note Gold -29450-29460 Silver -39600-39580 

Energy - Opens on mixed Note Crude Oil -3425-3427 Natural Gas -196-196.50 

Base Metals - Opens on negative Note Copper -459-460 Nickel -778-779 Lead -160-160.50 Zinc - 210-210.25 Aluminium -139.80-139.90

COMMODITY MARKET NEWS

Precious Metals 
Precious metals are likely to open flat and the pressure is likely to continue as the dollar remains strong. John Taylor continues to be a front-runner for the next Fed Chair and this has led to a sharp jump in US 10 year yields. Yields climbed five basis points yesterday to 2.42%, the highest since March. The dollar has found broad support after the US Senate approved a legislative vehicle for tax cuts last week which will make it easier to introduce tax reforms.

Base Metals 
Metals traded firm for yet another day with Aluminum and Zinc leading the pack. Zinc prices rose after data showed output in China slipped in September, highlighting worries that winter production cuts are tightening supplies of metals. Zinc production fell 2.7% last month to 537,000 tonnes after numbers last week showed aluminium output dropped 5.6% to 2.6 million tonnes, its lowest since April 2016.

Energy 
Crude oil prices jumped sharply yesterday after Saudi reiterated its commitment to output cuts. Russia meanwhile suggested that the compliance to OPEC cuts has touched 102%. Oil prices have also been supported due to ongoing tensions between Iraq and Kurdistan.