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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