Gold Holds Steady Near 2-1/2-Week High As Dollar Dips | Today Commodity Market News 15 FEB 2018.


Bullion - Opens on positive Note Gold -30640-36650 Silver -38750-38700 

Energy - Opens on positive Note Crude Oil - 3850-3900 Natural Gas -167.50-168 

Base Metals - Opens on mixed Note Copper -458.10-458.30 Nickel -901-902 Lead -165.80-165.70 Zinc - 228.90-229 Aluminium -139-140



Precious metals are inching higher today with gold near 2 week highs as the dollar weakened post US inflation data yesterday. The core Consumer Price Index posted its largest gain in a year, rising 0.3% m/m and 1.8% y/y.


Base metals rallied yesterday, with Copper bouncing hard from two month lows, helped by weaker dollar tracking broad recovery in global equities. Nickel hit its highest in 2.5 years as weaker dollar made metals cheaper for holders of other currencies. Nickel last month broke free of long-term downtrend since 2011 peaks.


Crude oil traded higher with support coming from weaker dollar and comments from Saudi Arabia. Saudi tried to verbally support oil prices by indicating that it is willing to see undersupplied market. Inventory data provided some support as it reported smaller than expected builds of 1.8 million. US production edged higher to 10.27 mbpd. 

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