Gold Prices Steady on Weaker Dollar | Today Commodity Market News 14 March 2018.
Bullion - Opens on positive Note Gold -30450-30500 Silver -38930-38980
Energy - Opens on positive Note Crude Oil - 3940-3950 Natural Gas -181.40-181.80
Base Metals - Opens on positive Note Copper -454-455 Nickel -901-902 Lead -156-156.50 Zinc - 214-214.20 Aluminium -135.80-136.
Precious Metals
Gold prices logged their largest one-day gain in a week as dollar softened after news that U.S. Secretary of State Rex Tillerson's sudden dismissal. As for economic data, the U.S. consumer-price index rose a mild 0.2% in February after a worrisome 0.5% increase in the first month of the year which pointed towards path of gradual hikes in U.S. interest rates which kept pressure on dollar. U.S. consumer prices cooled in Feb amid decline in gasoline prices and moderation in cost of rental accommodation
Base Metals
Base metals traded choppy in range, with some pullback seen in metals after previous days sell off. Aluminium slipped to its lowest in almost three months, before end of winter output curbs in top producer China, as investors worried that supplies are too plentiful to keep prices near six-year highs.
Energy
Crude prices cracked after see-sawing last week, as report that U.S. crude inventories are not rising as much as expected during spring season that is starting, implying healthy demand supported prices. U.S. crude inventories rose by 1.2 million barrels to 428 million barrels compared with expectations for increase of 2 million barrels.
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