COMMODITY MARKET NEWS UPDATE 23 AUGUST 2016.

COMMODITY MARKET OUT LOOK

Gold dropped as the U.S. dollar rallied amid indications the Federal Reserve could raise interest rates as early as next month.

Base Metal Silver dropped as the dollar strengthened after comments from U.S. Federal Reserve officials increased bets on a U.S. rate hike this year.

Crude dropped on worries about burgeoning Chinese fuel exports, more Iraqi and Nigerian crude shipments and arising US oil rig count.

Copper edged down in the face of a stronger dollar and as glut-hit China ramped up its exports of the metal.

Zinc settled flat as pressure seen as dollar gained after hawkish comments from Fed official after prices seen supported on escalating concern about mine supplies.

 Nickel prices dropped tracking LME prices as Philippines mine closures tail off.

Natural gas rose to a two-week high again as support seen from hotter weather forecasts boosted demand expectations.

GOLD OCT 2016

PP-31326

S1-31257                                  R1-31448

S2-31135                                  R2-31517

SILVER

PP-44730

S1-44204                                   R1-45043

S2-43889                                   R2-45571

CRUDE OIL

PP-3237

S1-3179                                     R1-3271

S2-3145                                     R2-3329

COPPER

PP- 318.7

S1-316.3                                    R1- 320.8

S2-314.2                                    R2-323.2

NATURAL GAS

PP-178.9

S1-176.5                                    R1-181.8

S2-173.6                                    R2-184.2

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