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

COMMODITY MARKET NEWS

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.