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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