Today Commodity Market News & Levels Outlook Report 15 March 2018.


Bullion - Opens on positive Note Gold -30450-30440 Silver -38800-38850 

Energy - Opens on positive Note Crude Oil - 3960-3965 Natural Gas -177.80-178 

Base Metals - Opens on positive Note Copper -454-455 Nickel -890-891 Lead -156-156.50 Zinc - 209.50-209.70 Aluminium -135.80-135.70


Precious Metals 
Gold prices edged higher in early morning session and traded near one week high as concerns over trade tensions weighed on share markets. The geo political uncertainty has provided support to gold prices. Data from U.S. showed retail sales falling for third straight month in Feb as households cut back on purchases of motor vehicles and other big-ticket items. 


Base Metals 
Base metals consolidated after trading choppy in previous sessions with aluminium hovering near its lowest since late Dec on expectations of rising supply as China's winter pollution controls expire. China's aluminium production fell 1.8% in Jan-Feb from year earlier as the country's pollution crackdown and supply-side reform kicked in even as new smelters are due to come on-stream this year.


Energy 
Crude prices stabilized on lower levels despite EIA inventory data showed a built up of 5million barrels, the biggest jump since late January. A bigger-thanexpected U.S. crude stock build was offset by large distillate and gasoline inventory draws. Prices were pressured after The Organization of the Petroleum Exporting Countries (OPEC) said in its monthly report that supply from non-members is likely to grow by 1.66 million barrels per day (bpd) in 2018

0 comments:

Subscribe to: Post Comments (Atom)