COMMODITY MARKET OUTLOOK REPORT 02 SEPTEMBER 2016.

COMMODITY MARKET OUTLOOK

Gold gained as the dollar fell on unexpectedly weak U.S. manufacturing data that raised doubts about the economy’s strength.

Base Metal Silver gained as prices remained supported after data showing a fall in U.S. manufacturing activity pressured the dollar.

Crude oil prices fell after a rise in U.S. crude inventories focused attention on a supply glut that has pushed Stockpiles to record highs around the world.

Copper prices remained under pressure due to surge in LME stocks, surging by 50 percent over the past three weeks.

Zinc prices rallied after upbeat factory data from the world's top metals consumer China spurred buying.

Nickel gained after China’s official factory gauge unexpectedly rose last month, signalling improved demand.

Natural gas extended losses after data showed that natural gas supplies in storage in the U.S. rose more than expected last week.

Commodity Market update:-

GOLD

PP-30772

R1- 30900                                    S1-30650

R2- 31050                                    S2-30500

SILVER

PP-45179

R1- 45400                                   S1-44900

R2- 45700                                   S2-44600

CRUDE OIL

PP-2909

R1- 2940                                    S1-2870

R2- 2990                                    S2-2830

NATURAL GAS

PP-187.83

R1- 190                                    S1-185

R2- 193                                    S2-183

COPPER

PP-312.1

R1- 315                                    S1-310

R2- 317                                    S2-307

COMMODITY NEWS

Chicago Federal Reserve Bank President Charles Evans said he is increasingly convinced that U.S.

Economic growth has slowed permanently, a situation that will keep U.S. interest rates low for a long time ahead. Embracing Harvard Professor Larry Summers' so-called secular stagnation theory, Evans argued that an aging U.S. population and slowing productivity growth mean there is little reason for interest rates to rise either fast or far. Expectations of low growth have become so embedded in corporate and investing behavior, he said, that even if inflation rises unexpectedly and the Fed has to raise rates faster than it now anticipates, a detrimental spike in long-term interest rates is unlikely. "Long-run expectations for policy rates provide an anchor to long-run interest rates," Evans said, according to a detailed outline provided ahead of his remarks to the Shanghai Advanced Institute of Finance in Beijing. "So lower policy rate expectations act as a restraint on how much long-term rates could rise following a surprise over the near-term policy path." Evans, who does not have a vote on Fed policy this year, is known as one of the U.S. central bank's most outspoken doves, generally in favor of delaying rate rises as long as possible so as to encourage hiring and investment.

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