OIL PRICES GAIN AFTER OPEC EXTENSION OF PRODUCTION CUT | TODAY COMMODITY MARKET NEWS 01 DEC 2017.



Bullion - Opens on positive Note Gold -29093-29099 Silver -37710-37750 

Energy - Opens on positive Note Crude Oil -3715-3720 Natural Gas -197.50-197.80 

Base Metals - Opens on mixed Note Copper -441-441.50 Nickel -721.50-721 Lead -159.60-159.80 Zinc - 203-203.40 Aluminium -132.10-132.30






Precious metals are likely to open flat with gold maintaining its broader range in recent weeks. The Senate vote on the US tax bill is facing hurdles and the vote is likely to take place later today. Safe haven demand has been hit as US equity markets stay near record highs after the economy grew by 3.3% in Q3, the quickest pace in three years.


Base metal are trading mixed with copper ending down more than 1% yesterday on concerns over slowing demand from China. Some support may be seen on the back of upbeat manufacturing data from the world's largest metals consumer. China’s official PMI stood at 51.8 in Nov, compared with 51.6 in October. Copper stocks held in LME warehouses fell another 3,200 tonnes, taking them to their lowest since July 2016 at 188,525 tonnes.


Crude oil prices are likely to open flat after OPEC meeting yesterday provided no real surprises to market. OPEC and other Non-OPEC members like Russia agreed to extend their current supply cut until end of 2018. Effectively, oil supply amounting to 1.8 million bpd will stay off markets for another year and help rebalance global oil markets.

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TODAY COMMODITY MARKET LEVEL AND NEWS OUTLOOK 30 NOV 2017.


Bullion - Opens on positive Note Gold -29230-29260 Silver -38050-38080 

Energy - Opens on mixed Note Crude Oil -3715-3710 Natural Gas -207.80-207.10 

Base Metals - Opens on mixed Note Copper -432.60-433 Nickel -727.60-728 Lead -156.30-156.40 Zinc - 203-204 Aluminium -130.90-131



Precious metals traded choppy yesterday, with silver prices under pressure and gold prices trading at lowest in 1 week, as dollar firmed amid upbeat U.S. growth data and as a likely vote neared on U.S. tax legislation. U.S. Senate took step toward passage of tax legislation that is a top White House priority, setting up a likely decisive vote later this week even though it was unclear if bill has enough Republican support to become law. U.S. economy grew faster than initially thought in Q3, quickest pace in three years, buoyed by robust business spending on equipment and accumulation of inventories. U.S

Base metals sagged for much of week in line with retreat in Asian stocks, shrugging off encouraging manufacturing reports from China and Japan as investors locked in profits ahead of year end. Growth in China's mfg. sector unexpectedly picked up in Nov, despite a crackdown on air pollution and a cooling property market.

Crude Oil traded weak as investors remained cautious ahead of outcome of an OPEC meeting in Vienna later in the day, with members set to debate the path for an extension of the group's supply-cut agreement. Uncertainty about OPEC and Russia agreement to prolong oil supply cuts has kept prices under pressure from past few trading sessions. 

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OPEC MAY EXTEND CUTS BY 3-6 MONTHS,CRUDE PRICES TO FURTHER GAIN | TODAY COMMODITY MARKET OUTLOOK 29 NOV 2017.


Commodity Opening Bell

Bullion - Opens on positive Note Gold -29430-29460 Silver -38700-38730 

Energy - Opens on negative Note Crude Oil -3715-3717 Natural Gas -203.80-204 

Base Metals - Opens on positive Note Copper -437-438 Nickel -733-735 Lead -155.90-156 Zinc - 205.50-205.20 Aluminium -134.50-134.60





Precious traded weak especially silver down by ~1.5%, while gold traded firm on Wednesday as the reaction to North Korea's latest missile test was muted, while palladium hovered near the 17-year peak touched in the previous session. North Korea fired what appeared to be an intercontinental ballistic missile (ICBM) that landed close to Japan.

Base metals traded weak, with iron and steel related metals – Nickel and zinc being beaten down the most. Copper found some floor after yesterday’s slide and is trading firm today, pulling away from its lowest in more than week, as US progressed with bill that would support tax cuts. The global copper market will be balanced for foreseeable future even as mine supplies tighten and demand from China, remains strong.

Crude Oil came under pressure as market continued to look ahead to OPEC meeting due tomorrow in which key decision on extension to production cuts is due. While rest of OPEC members has indicated support to deal, Russia has expressed doubt in recent days due to which prices have come under pressure.

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BUY CRUDE & GOLD | TODAY COMMODITY MARKET NEWS REPORT 27 NOV 2017.



Bullion - Opens on positive Note Gold -29450-29500 Silver -39370-39400 

Energy - Opens on mixed Note Crude Oil -3805-3810 Natural Gas -187-188 

Base Metals - Opens on negative Note Copper -450.50-451 Nickel -766.50-767 Lead -159.80-159.90 Zinc - 209.50-209.70 Aluminium -136.40-136.50



Precious metals are trading flat after closing higher last week as the dollar index slumped to two-month lows amid strengthening outlook for the euro. Consumer confidence in Germany hit a record high and political concerns in Germany have eased as a coalition government could be formed again. The dollar fell after the Fed minutes showed several policy makers were concerned about soft inflation. While a December rate hike is already factored in, concerns over low inflation have clouded the possibilities of more rate hikes next year.

Base metals traded with positive bias with LME copper hitting 1 month high above $7,000 tonne on Monday, amid signs of resilience in China's industrial sector that suggested cooling, but still healthy, appetite for metals. Open interest in Shfe's January copper contract is highest in 18 months, which as prices have generally risen suggests bets that prices will scale new heights early next year. Profits earned by China's industrial companies in October rose 25.1% from a year earlier, slowing from 27.7% gain in September.

Crude oil prices remain near two-year highs ahead of OPEC decision this week. Speculation suggests that Russia is onboard with extension of output cuts but the duration of extension is still unknown. Oil markets have been pricing in nine-month extension of deal. WTI prices have also been supported after Keystone pipeline was shut for repairs.

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TODAY COMMODITY MARKET LEVELS AND OVERVIEW UPDATE 22 NOV 2017.



Bullion - Opens on mixed Note Gold -29320-29330 Silver -39300-39325 ]

Energy - Opens on positive Note Crude Oil -3730-3740 Natural Gas -196.10-196.40 

Base Metals - Opens on mixed Note Copper -447-447.30 Nickel -758-756 Lead -160.30-160.40 Zinc - 210.90-211 Aluminium -134.70-134.80


Precious metals are likely to open flat but the broader range remains intact due to lack of major triggers. Safe haven demand remains lower as equities globally remain at record highs and volatility remains subdued. The US dollar however remains weighed down by a flattening yield curve. The difference between shorter dated and longer dated bonds in the US is at its lowest in a decade suggesting markets are pricing in lower inflation and consequently slower rate hikes next year.


Base metals have been gaining strength over the last couple of sessions, but aluminum continues to be under pressure falling to its lowest in more than three months, dragged down by signs of robust global production. Global production for October, excluding China, was 2.179 million tonnes, up from 2.1 million tonnes in September. However, Chinese daily average output fell to 82,100 tonnes in October against 86,900 tonnes in September.

Crude oil is expected to open higher as the API reported a sharp drawdown of 6.3 million barrels in US inventories. Natural gas remains under pressure owing to lack of cold weather in the US. Oil markets will now await cues from OPEC meeting on Nov 30th. OPEC will be expected to extend the duration of its production cuts and failure to do so may lead to fresh selloff in oil prices.  
 

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GOLD PRICES RISE | TODAY COMMODITY MARKET OVERVIEW REPORT 21 NOV 2017.

COMMODITY MARKET NEWSBullion - Opens on positive Note

Gold -29410-29415 Silver -39300-39400

Energy - Opens on mixed Note Crude Oil -3680-3682 Natural Gas -197--198

Base Metals - Opens on negative Note Copper -443.10-443.25 Nickel -755-756 Lead -159.50-159.75 Zinc - 207.30-207.40 Aluminium -134.70-134.80


Precious metals are trading higher on COMEX today. We expect prices to trade higher for the day, with U.S. President Donald Trump's move to put North Korea back on a list of state sponsors of terrorism burnishing the metal's safe-haven appeal.


Industrial metals are trading mix on International bourses today. We expect prices to trade range bound for the day, after a report showing China's property sector, a major metals consumer, remained resilient in October and the Steel-dependent metal nickel posted early gains in both Shanghai and London markets in step with a stronger showing in Chinese steel futures.


Crude oil is trading higher on NYMEX today. We expect prices to trade range bound for the day as the impact from expectations of an extended OPEC-led production cut was cancelled out by rising output in the United States

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TODAY COMMODITY MARKET NEWS OVERVIEW REPORT 17 NOV 2017.



Bullion - Opens on negative Note Gold -29380-29400 Silver -39700-39600 

Energy - Opens on negative Note Crude Oil -3580-3582 Natural Gas -199.50-199.70 

Base Metals - Opens on negative Note Copper -437.50-438 Nickel -744-745 Lead -156.20-156.50 Zinc - 206.50-207 Aluminium -136.50-137



Precious metals are trading flat on COMEX today. We expect prices to trade higher for the day as besides strong U.S. data .We expect prices to trade higher for the day.

Oil prices fell on Thursday on increased concerns about growth in U.S. production and inventories, despite expectations that major world producers will extend a supply-cut deal later this month.

Crude oil is trading flat on NYMEX today. We expect prices to trade lower for the day as we are continue built of U.S. crude oil inventories.

Precious Metal prices were slightly lower on Thursday, trading in a tight range as the U.S. House of Representatives passed its version of sweeping tax cuts and investors weighed possible changes in fiscal policy against the impact of an expected rise in U.S. interest rates 

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OIL PRICES WEIGHED DOWN BY RISING US SUPPLIES BUT OPEC CUTS PREVENT FALLS | TODAY MCX MARKET NEWS 16 NOV 2017.


Bullion - Opens on mixed Note Gold -29510-29530 Silver -39700-39720 

Energy - Opens on mixed Note Crude Oil -3618-3620 Natural Gas -203-202 

Base Metals - Opens on positive Note Copper -441-442 Nickel -763-762 Lead -158.50-158.60 Zinc - 207.75-208 Aluminium -137.40-137.50




Precious metals are likely to open flat after a choppy session yesterday. US economic data came in better than expected and capped price rallies for both gold and silver. The CPI rose 0.2% m/m while core CPI inched 1.8% higher y/y. December rate hike odds remain near 96% as the inflation data provided no real surprise. The US treasury yield curve however is at its flattest in a decade as near term rate hike possibilities are keeping 2-yr.


Base metals continued to be under pressure yesterday as data from China stoked fears of a slowdown in China, with falls in oil and global stocks indicating broad-based caution among investors. Stocks were set for their longest losing streak in eight months while oil prices slipped for fourth day, though there was some reprieve for the dollar after U.S. data surprised on the upside, leading to risk off environment. 


Crude oil is likely to remain under pressure as US oil production edged higher again last week. EIA data show that US output touched a record 9.64 mbpd. The inventory data was also not supportive for oil prices as headline inventories rose by 1.8 million barrels and gasoline stocks increased by 0.89 million. 


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OIL MARKETS STABLE | TODAY COMMODITY MARKET NEWS OUTLOOK REPORT 10 NOV 2017.



Bullion - Opens on mixed Note Gold -29600-29625 Silver -39660-39670 

Energy - Opens on mixed Note Crude Oil -3710-3715 Natural Gas -209.50-209 

Base Metals - Opens on mixed Note Copper -443-444 Nickel -803-800 Lead -164.90-165 Zinc - 209.60-209.50 Aluminium -135.90-136




Gold was higher on Thursday as a weaker dollar pushed prices during the session to a three-week high for the second time in successive days, while palladium dipped but stayed close to 16-year peak hit during the session.

We expect silver prices to trade positive on the back of concerns over the arrests of some Saudi royal family members and ministers on corruption charges.

Oil prices rose nearly 1 percent on Thursday, supported by supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia. 

We expect Natural gas prices to trade sideways on the back of profit booking after up-move in prices.

We expect base metal prices likely to trade volatile on the back of largely speculative trading. 

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TODAY COMMODITY MARKET LEVELS & NEWS OUTLOOK REPORT 09 NOV 2017.

Commodity Opening Bell 

Bullion - Opens on negative Note Gold -29460-29470 Silver -39720-39740 

Energy - Opens on negative Note Crude Oil -3692-3696 Natural Gas -205.50-205.90 

Base Metals - Opens on negative Note Copper -443-444 Nickel -804-810 Lead -162.30-162.40 Zinc - 208-208.50 Aluminium -135.90-136


Precious Metals 
Precious metals are likely to open flattish after a small bounce yesterday but the trend is likely to stay choppy on lack of major economic triggers. US Senate is likely to reveal its own version of the tax bill today and reports suggest that it is considering a delay in the implementation of a corporate-tax cut.

Base Metals 
Base metals traded flat, with copper changing marginally, with light turnover. Chinas imports of unwrought copper, stood at 330,000 tonnes last month, up from 290,000 tonnes a year ago, but down from 430,000 tonnes in September. Imports for the first 10 months of year were 3.76 million tonnes, down 7.8% in 2016

Energy 
Crude oil is likely to open flat with both WTI and Brent holding near two-year highs. US inventory data was mixed bag with unexpected rise in headline crude stocks by 2.2 million. Gasoline and distillate stocks however saw sharp drawdown of 3.3 million barrels each. US production edged higher to record 9.62 mbpd, surpassing the high from 2015. 

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TODAY COMMODITY MARKET LEVELS & NEWS OUTLOOK REPORT 08 NOV 2017.



Bullion - Opens on positive Note Gold -29460-29470 Silver -39720-39740 

Energy - Opens on negative Note Crude Oil -3712-3718 Natural Gas -205.50-205.90

Base Metals - Opens on negative Note Copper -445-446 Nickel -821-822 Lead -162.30-162.40 Zinc - 208-208.50 Aluminium -138.70-138.80


Gold prices fell 0.5 percent on Tuesday, retreating a bit from the previous day's rally as a stronger U.S. dollar reduced the appeal of safe haven investments, and oil prices also dipped. On Monday, bullion rose as much as 1 percent for its biggest daily rise in six weeks, after news of a string of high-profile arrests in Saudi Arabia boosted oil to a 2-1/2-year high.  

Silver dropped 0.6 percent to $17.12 an ounce after hitting its highest since Oct. 20 at $17.27 earlier in the session. 

Oil settled lower on Tuesday after rising to the highest since July 2015 the previous day, while tension flared between Saudi Arabia and Iran, and the Saudi crown prince tightened his grip on power

Nickel inventories in LME-registered warehouses have risen gradually from a low of about 360,000 tonnes late last year to 382,356 tonnes on Tuesday, pointing to a well-supplied market.

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OIL HITS HIGHEST LEVELS | TODAY COMMODITY MARKET OUTLOOK 07 NOV 2017.



Bullion - Opens on negative Note Gold -29320-29340 Silver -39720-39740 

Energy - Opens on positive Note Crude Oil -3712-3718 Natural Gas -202.50-203 

Base Metals - Opens on negative Note Copper -450.50-450.80 Nickel -829-830 Lead -161-162 Zinc - 210.20-210.30 Aluminium -140-140.10




Precious Metals 
Precious metals are likely to open flat after a bounce back yesterday as the dollar weakened amid hazy outlook for US monetary policy in 2018. The earlier than expected stepping down of New York Fed President William Dudley and other retirements due next year will leave a lot of voting positions open in the monetary policy committee. This has clouded the outlook for Fed policy next year. 

Base Metals 
Base metals traded firm yesterday and continues boosted by expectations of healthy demand from the electric vehicle sector, a pollution crackdown in China and signs of solid global economic growth. Copper production in the Congo, rose by 9.3% in the first nine months of this year.

Energy 
Crude oil prices are likely to stay firm with both WTI and Brent trading near two-year highs. The crackdown on Saudi royals in last four days has created a sense of instability in the world’s largest oil producer. This has increased the geo-political risk premium in prices. Fundamentals have also supported this price rally as US rig count fell sharply last week with oil rigs down by 8 to 729, the lowest since May 2016. Optimism also remains high amid expectations that OPEC cuts could be extended for another nine months. 

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TODAY COMMODITY MARKET LEVELS & NEWS OUTLOOK 06 NOV 2017.


Bullion - Opens on positive Note Gold -29150-29200 Silver -39150-39180 

Energy - Opens on positive Note Crude Oil -3600-3610 Natural Gas -197-198 

Base Metals - Opens on positive Note Copper -448-449 Nickel -829-830 Lead -160.20-160.30 Zinc - 210.20-210.30 Aluminium -140.90-140.95


Precious Metals 
Precious metals are likely to open flat after a selloff on Friday as US data continues to reinforce confidence in economic growth momentum. Nonfarm payrolls increased by 261k last month and previous readings were revised higher by a combined 90k. Wage growth was disappointing at 2.4% y/y but the unemployment rate fell to a 17-year low of 4.1%. 

Base Metals 
Metals are see-sawing in a range over the last couple of session and are trading firm today, supported by upbeat sentiment over potential demand for electric vehicles, but was facing some headwinds from a firm dollar. Copper prices have climbed by 6.7% so far this quarter and are eying a sixth straight quarter of growth. Hedge funds and money managers reduced their net long position in COMEX copper contracts in the week to Oct. 31. 

Energy Crude oil prices are likely to stay firm with both WTI and Brent trading near two-year highs on better fundamentals. US rig count fell sharply last week with oil rigs down by 8 to 729, the lowest since May 2016. Optimism also remains high amid expectations that OPEC cuts could be extended for another nine months. Discussion about it will happen in OPEC meeting later this month. 

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GOLD COMES OFF HIGHS AFTER U.S HOUSE REPUBLICATIONS PROPOSE TAX CUTS | TODAY MCX MARKET OUTLOOK 03 NOV 2017.

Commodity Opening Bell
Bullion - Opens on positive Note Gold -29250-29240 Silver -39670-39650 

Energy - Opens on positive Note Crude Oil -3540-3544 Natural Gas -190-190.10 

Base Metals - Opens on positive Note Copper -449.50-449 Nickel -815-820 Lead -159.20-159 Zinc - 212-211.80 Aluminium -140.10-140.25


Precious Metals 
Precious metals are likely to open flat as Jerome Powell was announced as the next Fed Chairman as expected. Powell is a centrist and his polices are unlikely to be radically different than those of the current Fed Chair Janet Yellen. The other important event out of the US was the introduction of the new tax bill which again provided no major surprises. The corporate tax rate is likely to be cut to 20% from 35% and the proposal includes doubling the standard deduction for individuals and families, capping the deduction for state and local property taxes and maintaining the current tax treatment of 401(k) and retirement pension plans

 Base Metals 
Base metals traded firm across board with nickel posting its biggest two-day jump in more than three years, zinc hit its highest in decade and aluminium matched last week's five-year peak. Nickel has been on tear surging by around 10% over last 3 days on expectations that demand would be boosted by a rise in electric car buying, while zinc hit its highest since August 2007 on deficit expectations. 

 Energy 
Crude oil prices are likely to stay firm as optimism remains high amid expectations that OPEC cuts could be extended for another nine months. Discussion about it will happen in OPEC meeting later this month. Oil prices have jumped in last couple of weeks as OPEC output dropped in Oct and compliance to cuts increased.




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OIL UP AS US CRUDE INVENTORIES FALL DESPITE RISING PRODUCTION | TODAY COMMODITY MARKET OUTLOOK 02 NOV 2017.

Commodity Opening Bell 

Bullion - Opens on positive Note Gold -29250-29300 Silver -33720-39740

Energy - Opens on positive Note Crude Oil -3500-3512 Natural Gas -188.50-188.70

Base Metals - Opens on positive Note Copper -449.50-450 Nickel -822-820 Lead -159.70-159.50 Zinc - 212-213 Aluminium -140-140.25


Precious Metals 
Precious metals are likely to open flat as the Fed meeting yesterday turned out to be a non-event as expected. The Fed kept rates unchanged and maintained the possibility of a December rate hike. The appointment of the next Fed Chair is likely to happen around 3.00 pm EST (12.30 am IST) and Jerome Powell is likely to be the candidate. The US tax bill will also be released today and will provide further details about the impending tax cuts and their funding. The dollar will however be weighed down by the ongoing probe on Trump’s campaign link with Russia.

Base Metals 
Base metals continued to surge for yet another day, before some cool off in the evening session. Nickel rocketed to its daily limit in early trade, tracking overnight gains in London markets after the sector turned positive on new demand from electric vehicle battery manufacturers. 
Energy 
Crude oil prices are likely to stay firm despite a small correction yesterday. US inventories fell across the board with oil stocks down 2.4 million, gasoline down 4.0 million and distillate inventories down by 0.3 million barrels. US exports also touched a record 2.0 million bpd last week and this will continue to support WTI prices.

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