Oil Prices Stay Near High on Strong U.S. Refinery Runs | Today Commodity Market Outlook Report 29 Dec 2017.


Commodity Opening Bell 

Bullion - Opens on mixed Note Gold -29020-29030 Silver -38850-38880

Energy - Opens on positive Note Crude Oil -3840-3850 Natural Gas -189-190

Base Metals - Opens on mixed Note Copper -468.50-469 Nickel -782.50-783 Lead -161.60-161.80 Zinc - 211.40-211.80 Aluminium -144.60-144.80



Precious Metals 
Precious metals are expected to open flat but closed higher yet again yesterday as the dollar continued to weaken. Gold is headed for nearly 12% gains this year despite global equities trading at record highs as the dollar has weakened by around 9% in 2017.

Base Metals 
Base metals continue to trade firm with some of them trading at the highest point of the year adding over 30% YTD gains. Copper prices jumped to a four year peak as funds bet on strong demand in China and supply disruptions in top producer Chile leaving the market short of the metal used widely in power and construction. Funds are on a buying spree, but the timing and strength is surprising. 

Energy 
Crude oil prices are trading slightly higher with WTI prices surpassing $60 in early trade. The EIA inventory data provided some support as it reported a drawdown of 4.6 million barrels in US inventories. US oil production also saw a surprise downtick last week to 9.75 million bpd compared to 9.78 mbpd in the previous week. 

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Gold Holds Steady as Dollar Remains Subdued | Today Commodity Market News Outlook 28 Dec 2017.


Commodity Opening Bell


Bullion - Opens on positive Note Gold -28970-28980 Silver -38750-38760

Energy - Opens on positive Note Crude Oil -3833-3835 Natural Gas -176-176.50

Base Metals - Opens on negative Note Copper -466.60-467 Nickel -767-768 Lead -151.60-161.80 Zinc - 210.20-210.30 Aluminium -142.60-142.80





Precious Metals 
Precious metals are expected to open flat but have been steadily edging up in the past few days. Slight weakness in US equities and dollar underpinned strength in gold prices yesterday. While the Fed is on course for rate hikes in 2018, the prospects of other central banks reducing stimulus have kept the dollar under pressure and helped precious metals. Last week, data showed that the U.S. economy grew at its fastest pace in more than two years in the third quarter.

Base Metals 
Metals have been trading positive and close to yearly highs with copper surging to highest in almost four years after China ordered its top producer to halt output to combat winter pollution, fuelling a rally this year driven by optimism about demand and supply disruptions at mines. Some profit taking emerged at the higher end of copper’s price rise, but was held in check somewhat by a weaker U.S. dollar. 

Energy 
Crude oil prices are trading slightly higher but WTI prices still remain a touch below $60. The API inventory data provided some support as it reported a draw-down of 6 million barrels in US inventories. Prices jumped this week after reports that gunmen blew up a pipeline in Libya. The crude oil pipeline feeds the Es Sider sea terminal and has a capacity of around 90,000 bpd. 

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TODAY COMMODITY MARKET LEVELS AND NEWS OUTLOOK 27 DEC 2017.



Bullion - Opens on negative Note Gold -28800-28820 Silver -38250-38260 

Energy - Opens on negative Note Crude Oil -3833-3835 Natural Gas -170-171 

Base Metals - Opens on negative Note Copper -463-463.50 Nickel -764-765 Lead -159.20-159.30 Zinc - 208.50-208.80 Aluminium -138.80-138.90


Precious Metals 
Precious metals are expected to open flat and sideways trading could continue this week due to lack of triggers. Slight weakness in US equities and dollar underpinned strength in gold prices yesterday. Last week, data showed that the U.S. economy grew at its fastest pace in more than two years in the third quarter. The GDP grew at 3.2%, led by strong business spending, and is poised for further growth next year due to the latest tax cuts passed by Congress. 


Base Metals 
Base metals have been sideways over the last couple of session, while copper been outperforming trading at the highest in almost four years as Chinese officials stepped up pollution-fighting efforts by halting processing plants. Jiangxi Copper Co., China’s largest producer, received the order to stop output for at least a week before a further assessment based on local pollution levels. 


Energy 
Crude oil prices jumped sharply yesterday with WTI prices touching $60 after reports that gunmen blew up a pipeline in Libya. The crude oil pipeline feeds the Es Sider sea terminal and has a capacity of around 90,000 bpd. A supply disruption at a time when OPEC has cut its supply is helping oil prices further. 


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Oil Dips as US Production Fast Approaches 10 Million bpd | Today Commodity Market Outlook 22 Dec 2017.


Commodity Opening Bell 

Bullion - Opens on negative Note Gold -28480-28500 Silver -37450-37460

Energy - Opens on positive Note Crude Oil -3733-3735 Natural Gas -167.40-167.50

Base Metals - Opens on negative Note Copper -454-454.50 Nickel -764-765 Lead -159.20-159.30 Zinc - 206.50-206.80 Aluminium -136.20-136.25


Precious Metals 
Precious metals have been trading flat over the last couple of sessions and are subdued by a firmer dollar, but were on track to log a second consecutive week of gains. The dollar edged up on Friday though remained on track for weekly losses. The U.S. 

Base Metals 
Base metals have been consolidating on higher range and could be due for some profit taking before the long weekend and year end closing. Open interest in all major LME contracts has fallen this week, reflecting that traders are closing their positions ahead of year end and suggesting short-covering has fuelled copper's gains back above $7,000 this week.

Energy 
Crude oil prices traded lower yesterday due to rising U.S. output and expected January re-opening of the Forties pipeline of the 450,000 bdp in the North Sea in January. The dip was largely due to outlook for rising supplies which triggered traders to sell out of long positions ahead of year-end. 

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Slight Rise in Gold, Crude Flattening | Today Commodity Market outlook 21 Dec 2017.



Bullion - Opens on positive Note Gold -28510-28520 Silver -37650-37660 

Energy - Opens on positive Note Crude Oil -3722-3725 Natural Gas -169-169.50 

Base Metals - Opens on mixed Note Copper -454-454.50 Nickel -764-765 Lead -161-161.20 Zinc - 205.50-205.80 Aluminium -134.80-134.90



Precious Metals 
Precious metals are trading slightly higher despite the US tax bill getting cleared as the dollar saw limited reaction to the reform. The House of Representatives gave final approval yesterday to the biggest overhaul of the US tax code in 30 years and the bill would now go to President Trump for signing. The tax cuts are widely expected to add to growth in the next year. 

Base Metals 
Base metals traded lower with copper drifting from near two-month high hit session before due to year end profit-taking. For Copper, data released from ICSG showed that global world refined copper market was in deficit of 132,000 tonnes in Sep, compared with 94,000 tonnes surplus in Aug. For first 9 months, market was in 181,000 tonnes deficit compared with a 167,000 tonnes deficit in same period year earlier.

Energy 
Crude oil prices ended higher yesterday as US inventories saw a large draw down. The EIA reported a decline of 6.5 million barrels in oil inventories even as gasoline and distillate stocks increased slightly. Crude inventories in the US are now 50 million barrels lower compared to last year.

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Oil Edges Up on North Sea Pipeline Outage, | Today Commodity Market Outlook 20 Dec 2017.



Bullion - Opens on positive Note Gold -28450-28460 Silver -37480-37500 

Energy - Opens on positive Note Crude Oil -3700-3705 Natural Gas -175-176 

Base Metals - Opens on mixed Note Copper -448.10-448.30 Nickel -754-755 Lead -163.80-164 Zinc - 205.50-205.80 Aluminium -133.50-133.70





Precious Metals 
Precious metals are expected to open flat today but some pressure on prices may persist as US treasury yields continue to climb. US 10 yr. yields are near the highest since March on the back of better economic data and optimism over the tax bill. The US tax bill is likely to be voted in the Senate today after getting cleared in the House yesterday. 

Base Metals 
Base metals traded sideways, with traders booking profits on recent gains that were fuelled by rosier demand outlook after data for last month showed resilience in global manufacturing. The World Bank raised its forecast for China's economic growth in 2017 to 6.8% from 6.7% it projected in October, as personal consumption and foreign trade supported growth. 

Energy 
Crude oil prices are likely to go higher as US inventories saw a drawdown for yet another week. The API reported a draw of 5.2 million barrels in US stocks and the EIA data later today will provide further clarity. Oil prices have been up in the last few days as speculators have boosted their bullish positions in response to the shutdown of Forties oil pipeline which happened last week.

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COMMODITY MARKET LEVELS AND NEWS OUTLOOK REPORT 19 DEC 2017.



Bullion - Opens on negative Note Gold -28450-28460 Silver -37480-37500 

Energy - Opens on mixed Note Crude Oil -3685-3688 Natural Gas -176.10-176.50 

Base Metals - Opens on negative Note Copper -445.50-446 Nickel -748-751 Lead -163.80-164 Zinc - 204.10-204.50 Aluminium -132.10-132.30



Precious Metals 
Precious metals have been trading positive after the recent slide last month, amid a steady dollar with investors monitoring the progress of the U.S. tax reform bill. U.S. Congress certain to pass sweeping tax legislation this week to support a tax overhaul backed by President Donald Trump. 


Base Metals 
Base metals have been trading firm over the last few sessions, with copper and nickel at 3 weeks highs after China boosted expectations of higher demand by pledging to cut export taxes on some steel products, but sizeable inventories capped gains. Nickel stocks are huge, about 70 days' consumption, as compared to 1-2 weeks consumption for other metals.


Energy Crude oil traded flat as markets lack decisive triggers towards the end of this year with unplanned outages and voluntary production restraint led by OPEC supporting prices, while soaring output in US capped prices. Hedge fund managers have boosted their bullish positions in response to the shutdown of Forties oil pipeline. Last week, IEA reported that global oil market is likely to show surplus in first half of 2018, as rising US supply offsets OPEC's discipline in maintaining its production cuts for whole of next year.

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TODAY COMMODITY MARKET LEVELS & NEWS REPORT UPDATE 18 DEC 2017.


Bullion - Opens on positive Note Gold -28360-28370 Silver -37350-37370 

Energy - Opens on positive Note Crude Oil -3680-3690 Natural Gas -170-170.40 

Base Metals - Opens on positive Note Copper -445.50-446 Nickel -741.20-741.50 Lead -162.60-162.80 Zinc - 205.60-205.80 Aluminium -132.10-132.30


Commodity Market News
Gold prices clung to earlier gains and were poised for their first weekly gain in four weeks on Friday, withstanding pressure from strong equities markets on continued support from this week's interest rate rise by the Federal Reserve.

Silver was up 1.01 percent at $16.03 per ounce and set for its first weekly gain in four weeks.

We expect silver prices to trade sideways on the back of short covering after drop in prices.

Oil prices were mixed on Friday, lingering below two-year highs as the continuing outage of a North Sea pipeline gave support, while climbing U.S. output and weak gasoline demand kept a lid on gains. Hedge funds and other money managers pared their net long U.S. crude futures and options positions in the week to Dec. 12, cutting the holdings for a second week after hitting a record high, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

We expect Natural gas prices to trade negative on the back of lack of demand.

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

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Oil stable on tighter market, but rising US output looms for 2018

Oil markets were stable on Friday as the Forties pipeline outage in the North Sea and the ongoing OPEC-led production cuts supported prices, while rising output from the United States kept crude from rising further.

U.S. West Texas Intermediate (WTI) crude futures were at $57.13 a barrel at 0119 GMT, up 9 cents from their last settlement.

Brent crude futures , the international benchmark for oil prices, were at $63.35 a barrel, up 4 cents from their last close.

Traders said markets were overall well supported by efforts led by Organization of the Petroleum Exporting Countries (OPEC) and Russia to withhold supply to prop up prices.

The ongoing outage of the Forties pipeline, which carries North Sea oil to Britain, was also buoying crude prices, traders said, as inventories around the world were gradually being drawn down.

"Inventory drawdowns keep us confident that longer term market fundamentals are headed in the right direction and supply and demand imbalances will pull oil back up to marginal cost," Bernstein Research said.

"We forecast Brent averaging $56 per barrel in 2018 following OPEC's cut extension, recovering to $60 per barrel in 2019," it added.

Goldman Sachs said that market conditions allowed the major oil companies, which it referred as Big Oil, to enter "a positive earnings-revision cycle" and that "this should allow Big Oil to re-employ capital at double-digit returns".

The U.S. bank said that the improved market conditions were a result of a higher Brent crude oil price outlook of an expected annual average of $62, $60, and $55 per barrel for 2018, 2019 and 2020 respectively.


The companies usually associated with 'Big Oil' are BP , Royal Dutch Shell , ExxonMobil , Chevron and Total .

Undermining OPEC's efforts to tighten the market is U.S. oil production , which has soared by 16 percent since mid-2016 to 9.78 million barrels per day (bpd), close to levels of top producers Russia and Saudi Arabia.


Rising U.S. supply, driven largely by shale drilling, will likely move oil markets into a supply surplus in the first half of 2018, the International Energy Agency (IEA) said on Thursday.

"Total supply growth could exceed demand growth: indeed, in the first half the surplus could be 200,000 barrels per day (bpd) before reverting to a deficit of about 200,000 bpd in the second half, leaving 2018 as a whole showing a closely balanced market," the Paris-based IEA said in its monthly oil market report.

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OIL PRICES UP ON LOWER US CRUDE STOCKS | COMMODITY MARKET NEWS OUTLOOK 14 DEC 2017.

COMMODITY MARKET NEWS

Gold prices rose on Wednesday, extending gains to 1 percent as the dollar fell after the U.S. Federal Reserve raised interest rates as expected but left its outlook unchanged for coming years. The spot gold price rallied to $1,256.87 after the Fed raised its benchmark interest rates by 25 basis points, or a quarter of a percentage point.

Silver was up 2.1 percent at $16.06 an ounce after earlier hitting a five month low of $15.59.

Oil prices slipped for a second straight day on Wednesday, as a slump in U.S. crude stockpiles was offset by a larger-than-forecast rise in gasoline inventories and as U.S. crude output continued to grow to record highs. U.S. crude inventories last week dropped 5.1 million barrels, more than anticipated, and production hit another record high at 9.78 million barrels per day (bpd), government data showed. The U.S. peak, when records were only kept on a monthly basis, is 10.04 million bpd, set in November 1970.

We expect Natural gas prices to trade negative on the back of lack of demand.

Copper rose on Wednesday as prices extended a correction from last week's sharp fall, but moves were muted ahead of an expected interest rate increase from the U.S. Federal Reserve. Global shares reached another record high as the Fed geared up to raise rates for the third time this year. However, the U.S. dollar weakened after consumer price data showed sluggish inflation, adding to concerns the bank will be less able to execute multiple rate increases next year. Copper plunged 4 percent on Dec. 5, its biggest one-day drop in two years. It has since recovered some but not all of those losses. Some upbeat data out of China last week has helped allay concerns over Chinese demand, Julius Baer analyst Carsten Menke said, while moves on Comex had also improved the technical picture for the metal

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TODAY COMMODITY MARKET LEVELS AND NEWS OUTLOOK 13 DEC 2017.



Bullion - Opens on positive Note Gold -28170-28200 Silver -36800-36825 

Energy - Opens on positive Note Crude Oil -3700-3710 Natural Gas -175.20-175.40 

Base Metals - Opens on negative Note Copper -433.20-433.50 Nickel -718-719 Lead -162-162.30 Zinc - 202.60-202.75 Aluminium -129.50-129.60


Precious metals are trading flat on COMEX today. We expect prices to trade range bound for the day, after hitting their lowest in nearly five months in the previous session, with investors in 'wait-and-see' mode ahead of the outcome of a two-day meeting of the U.S. Federal Reserve.

Industrial metals are trading mix on International bourses today. We expect prices to trade range bound for the day as volumes thinned throughout the complex in the lead-up to holidays and ahead of a U.S. monetary policy meeting which may spell out higher interest rates.

Crude oil is trading higher on NYMEX today. We expect prices to trade slightly higher for the day, as industry data showed a larger-than-expected draw down in U.S. crude stockpiles.

Crude oil prices fell sharply on Tuesday, as traders took profits after prices surged early to a two year high on an unplanned closure of the pipeline that carries the largest North Sea crude oil grade

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COMMODITY MARKET LEVELS & NEWS OUTLOOK UPDATE 12 DEC 2017.



Bullion - Opens on mixed Note Gold -28350-28360 Silver -36940-36950 

Energy - Opens on mixed Note Crude Oil -3750-3755 Natural Gas -182.30-182.50 

Base Metals - Opens on negative Note Copper -431.50-432 Nickel -717.50-717.90 Lead -161.20-161.30 Zinc - 200.90-201 Aluminium -129.50-129.60



Gold steadied below $1,250 an ounce on Monday after its biggest weekly drop in more than six months as markets anticipated an interest rate hike from the U.S. Federal Reserve this week. The Fed is expected to lift rates at its two-day policy meeting ending on Wednesday, but its accompanying statement will be closely watched for any surprises.

Silver was down 0.5 percent at $15.76 an ounce.

We expect silver prices to trade negative ahead of US FOMC meeting.

Oil prices rose on Monday, overcoming declines early in the session, after a North Sea pipeline shut for repairs and investors focused on commodities following an explosion in New York. The pipeline, which can carry 450,000 barrels per day of Forties crude from the North Sea to the Kinneil processing terminal in Scotland, has been operating at reduced capacity for about four days before the shutdown. Earlier in the session, both benchmarks popped higher after an explosion rocked New York's Port Authority Bus Terminal, one of the city's busiest commuter hubs.

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OIL PRICES DROP ON INCREASED US DRILLING ACTIVITY | TODAY COMMODITY MARKET NEWS REPORT 11 DEC 2017.

Commodity Opening Bell 

Bullion - Opens on mixed Note Gold -28500-28530 Silver -37060-37100

Energy - Opens on mixed Note Crude Oil -3675-3678 Natural Gas -182.30-182.50

Base Metals - Opens on mixed Note Copper -426.50-426.70 Nickel -700-701 Lead -158-158.25 Zinc - 199.80-200 Aluminium -129.10-129.20


Precious Metals 
Gold remained under pressure for fourth consecutive session following strength in the dollar against its major crosses. Last week, the yellow metal was weighed down after Senate Republicans approved a rewrite of the U.S. tax code, stoking optimism over President Donald Trump’s stimulus plans. Economic numbers released from the US also came in better than-expected that supported the dollar on lower levels. 

Base Metals 
Base Metals traded marginally higher but downside threat still continues to prevail in the market. Weaker imports for base metals for second month could imply a stubbornly weak economy and bring renewed short selling interest in base metals complex. Zinc rallied on data that China's zinc production fell by 1.1% YoY in Nov to 423,000 tonnes. 

Energy 
Crude oil prices were pulled down as the latest rise in the U.S. rig count pointed to a further increase in American production, potentially undermining efforts led by OPEC to tighten markets. The amount of rigs drilling for new oil production in the U.S. rose by two in the week to Dec.8, to 751, the highest level since September and close to levels from top producers Russia and Saudi Arabia. 

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Oil Prices Dip On Stronger Dollar | Today Commodity Market News 08 DEC 2017.



Bullion - Opens on negative Note Gold -28570-28600 Silver -36980-37000 

Energy - Opens on mixed Note Crude Oil -3655-3660 Natural Gas -180.30-180.50 

Base Metals - Opens on positive Note Copper -428.50-428.70 Nickel -714-715 Lead -158.50-159 Zinc - 200-200.10 Aluminium -130-130.10


Precious Metals 
Precious metals are trading flat after a selloff yesterday as the dollar maintained strength and is headed for its best weekly gain this year. The passage of the tax bill earlier this week has underpinned dollar strength and better economic data has kept precious metals under pressure. The private sector ADP payrolls came in better than expected at 190k in November. The monthly payrolls data is due today and will provide further cues to prices.

Base Metals 
Base metals tried to gain some lost ground as bargain hunters took advantage of recent losses. Metals rally was driven by fundamentals and hence the general tendency is still to buy the dips, as there is still some optimism there.

Energy 
Crude oil prices bounced back slightly yesterday but are likely to remain choppy as markets look for direction. Prices fell this week as the EIA data reported an increase in both gasoline and distillate inventories. Headline crude stocks fell by 5.6 million barrels but gasoline inventories increased by 6.8 million. 

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OIL EDGES UP AFTER DROP IN US CRUDE INVENTORIES | TODAY COMMODITY MARKET NEWS OUTLOOK 07 DEC 2017.


Bullion - Opens on mixed Note Gold -28900-28920 Silver -37450-37460 

Energy - Opens on mixed Note Crude Oil -3625-3627 Natural Gas -189-188 

Base Metals - Opens on mixed Note Copper -427.50-427.90 Nickel -702-701 Lead -161.60-161.70 Zinc - 200.70-201 Aluminium -129.90-130









Precious Metals 
Precious metals are trading flat after yet another weak closing yesterday as the dollar maintained strength ahead of the Non-farm payrolls data tomorrow. The private sector ADP payrolls however came in better than expected at 190k in November. Gold prices have been weak despite the fact that global equities have been selling off over the past few days. US yield curve however continues to flatten which might provide some support to gold prices. Progress on US tax bill will be watched as US House and Senate lawmakers are poised to begin working on compromise tax-overhaul legislation.

Base Metals 
After the recent correction, metals seems to be taking a breather, with LME copper up but was still not far two-month lows amid signs that growth in China's property and power sectors, both major copper consumers, is tapering into the year end. Aluminium hovered around 4 month lows at $2,000 a tonne, after China's winter output cuts were set to be less severe than initially feared.  

Energy 
Crude oil prices declined yesterday and are likely to remain choppy as markets lack clear direction. Prices fell yesterday as the EIA data reported an increase in both gasoline and distillate inventories. Headline crude stocks fell by 5.6 million barrels but gasoline inventories increased by 6.8 million. 

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TODAY COMMODITY MARKET NEWS & LEVELS REPORT 06 DEC 2017.


Bullion - Opens on positive Note Gold -28960-28970 Silver -37680-37700 

Energy - Opens on mixed Note Crude Oil -3700-3705 Natural Gas -189-189.50 

Base Metals - Opens on mixed Note Copper -425-426 Nickel -700-701 Lead -159.50-160 Zinc - 199.70-200 Aluminium -131.60-131.70






Precious Metals 
Precious metals are trading flat after a selloff yesterday as the dollar gained some strength ahead of the payrolls data this week. US yield curve however continues to flatten which might provide some support to gold prices. Progress on US tax bill will be watched as US House and Senate lawmakers are poised to begin working on compromise taxoverhaul legislation. 

Base Metals 
Base metals cracked hard yesterday, with nickel and copper down 4% each, and the spill over pulled other metals also along. This was the worst fall for copper since January 2015, as some investors took profits after data showed an inflow into LME warehouses after a series of drawdown over the last few months. Nickel was down 4%, to a 2 month low, and all gains built in on the Electric Vehicle theme has now faded.

Energy 
Crude oil prices remain choppy as markets lack general direction after the OPEC meeting. Prices fell despite the API reporting a drawdown pf 5.4 million barrels in US inventories last week. US oil rig count increased by 2 last week to 749 and US oil output is at record 9.64 mbpd. Prices may find some support as OPEC oil output fell in November by 300,000 bpd to 32.48 mbpd, its lowest since May.

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Oil Prices Edge Up on Expected Drop in US Crude Stocks | Commodity Market News Outlook 05 DEC 2017.

COMMODITY MARKET NEWS

Precious Metals 
Precious metals are trading flat with gold maintaining its broader range in recent weeks as the optimism about the tax reforms remains limited. Strength in the rupee however weighed on domestic prices. The US Senate cleared the tax bill over the weekend but US equities and dollar saw a muted reaction yesterday. The House and Senate version of the bill will now be reconciled to create a final draft to be sent to the President for signing.

Base Metals Base metals continue to see-saw after some brief pullback during the end of last week, with nickel leading gainers on the back of stronger steel prices. The electric vehicle story faded too fast and too deep and there could be some catch-up on the same. Shanghai steel futures are trading 1% up hitting its strongest since Sept. 6 in the previous session.

Energy Crude oil prices are likely to open slightly higher after a negative closing yesterday on the back of increased US rig count. US oil rig count increased by 2 last week to 749 and US oil output is at record 9.64 mbpd. Prices may also gain today as OPEC oil output fell in November by 300,000 bpd to 32.48 mbpd, its lowest since May. Prices have been gaining after OPEC and other Non-OPEC members like Russia agreed to extend their current supply cut until end of 2018.

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TODAY COMMODITY MARKET NEWS AND LEVELS UPDATE 04TH DEC 2017.



Bullion - Opens on positive Note Gold -29200-29250 Silver -38380-38400 

Energy - Opens on mixed Note Crude Oil -3735-3750 Natural Gas -200-201 

Base Metals - Opens on mixed Note Copper -446-446.50 Nickel -734-735 Lead -164.20-164.30 Zinc - 208.90-209 Aluminium -133.30-133.35



Precious metals are trading flat with gold maintaining its broader range in recent weeks owing to conflicting drivers. The upside for gold will be capped as the Senate cleared the tax bill over the weekend. The House and Senate version of the bill will now be reconciled to create a final draft to be sent to the President for signing.Precious metals are trading flat with gold maintaining its broader range in recent weeks owing to conflicting drivers. The upside for gold will be capped as the Senate cleared the tax bill over the weekend. The House and Senate version of the bill will now be reconciled to create a final draft to be sent to the President for signing. 

Base metals witnessed a sharp pullback n Friday after being under pressure for much if last week. Copper held its ground today as well, defying a stronger dollar to find support from resilient manufacturing demand in top consumer China. China's manufacturing activity remained in expansion mode but grew at weakest pace in five months in November as input costs remained high and tougher pollution measures weighed on business confidence. 

Crude oil prices are likely to open slightly lower after strong gains on Friday. Prices were up last week as 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 re balance global oil markets. 

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