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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