COMMODITY MARKET NEWS UPDATE 06 SEPTEMBER 2016.

COMMODITY MARKET OUTLOOK

Gold rose after U.S. jobs growth came in below expectations, dampening the likelihood of an interest rate hike from the Federal Reserve this month.

Silver prices gained after U.S. employment data missed estimates, boosting the metal’s appeal as a haven.

Crude oil prices gained as impressive spike followed the surprise announcement that Russia and Saudi planned to cooperate to stabilize oil markets.

Copper recovered from day's low as investors bet that more mine supply would drag on prices for the rest of the year.

Zinc settled down as market was cautious about the sustainability of the rise as physical demand had not picked up much.

Nickel dropped on profit booking after prices traded in the range in yesterday session as US markets were remain closed on Monday for Labour Day.

Natural gas prices dropped as traders reacted to the reality that higher summer demand for the commodity is coming to an end.

Commodity Market update:-

GOLD

PP-30975

R1- 31028                                    S1-30931

R2- 31072                                    S2-30878

SILVER

PP-46366

R1- 46622                                    S1-46207

R2- 46781                                    S2-45950

CRUDE OIL

PP-2986

R1- 3059                                    S1-2907

R2- 3138                                    S2-2840

NATURAL GAS

PP-185.7

R1- 189.2                                    S1-181.4

R2- 193.5                                    S2-177.9

COPPER

PP-310.7

R1- 311.9                                    S1-310.0

R2- 312.6                                    S2-308.8

COMMODITY NEWS

International Monetary Fund Managing Director Christine Laggard said the institution will likely downgrade its 2016 global growth forecast again as economic prospects are dimmed by weak demand, flagging trade and investment and growing inequality. Laggard told Reuters in an interview that G20 leaders need to do far more to spur demand, bolster the case for trade and globalization, and fight inequality. And while some major threats to the global economy have yet to materialize, such as recession sparked by Britain's vote to leave the European Union or a collapse in Chinese Growth, she described the overall outlook as "slightly declining growth, fragile, weak and certainly not fueled by trade." "You could argue that Brexit is not really delivering the massive crisis that we had expected, you could argue that the Chinese transition is proceeding reasonably well, and you could argue that low commodity prices have gone up a little bit," Laggard said. "So this is on the surface." "However, when you look deep down at the economic growth prospects, at the growth potential, at the productivity, we are not getting very good signals, and we will probably be revising down our Forecast for growth in 2016." The IMF is due to revise its World Economic Outlook forecasts in early October ahead of its annual meetings. Another cut would be the sixth straight growth markdown in about 18 months. Citing global uncertainty over the June 23 Brexit vote, the IMF in July cut global GDP growth estimates to 3.1 percent for 2016 and 3.4 percent for 2017 - down about a tenth of a .

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