Thursday, 15 September 2016

COMMODITY MARKET NEWS UPDATE 15 SEPTEMBER 2016.

COMMODITY MARKET OUTLOOK

Gold remained under pressure ahead of a closely-watched U.S. retail sales report.
Base Metal Silver prices seen supported as the market waited for clues on the timing of interest rate rises in the United States.
Crude oil prices dropped after data showing large weekly builds in U.S. petroleum products offset a surprise draw in crude stockpiles.
Copper climbed as strong economic data from China fuelled speculation of strengthening demand.
Zinc prices gained as recent economic indicators in China pointed to brighter demand prospects.
Nickel dropped after the Philippines deferred releasing the results of a mining audit until next week.
Natural gas dropped on concerns that hot weather in the next two weeks will be insufficient to shrink growing stockpiles.






Commodity Market update:-

GOLD
PP-31052
R1- 31101                                    S1-30988
R2- 31165                                    S2-30939

SILVER
PP-45616
R1-45824                                    S1-45396
R2-46044                                    S2-45188

CRUDE OIL
PP-2967
R1- 3008                                    S1-2896
R2- 3079                                    S2-2855


NATURAL GAS
PP-194.5
R1- 198.2                                    S1-189.7
R2- 203.0                                    S2-186.0


COPPER
PP-320.5
R1- 325.1                                    S1-318.0
R2- 327.6                                    S2-313.4



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