MCX TIPS | TODAY COMMODITY MARKET OUTLOOK AND LEVEL REPORT 07 OCTOBER 2016.

COMMODITY MARKET OUTLOOK

Gold prices dropped as mostly upbeat economic data kept alive expectations for higher U.S. interest rates yet this year.

 Base Metal Silver prices dropped continuing its weak trend amid growing expectations for a December rate hike by the Federal Reserve.

Crude oil rallied underpinned by growing expectations for the world's largest producers to agree to cut supply.

Copper slipped in very low volumes as a stronger dollar weighed and a week-long holiday in China drained the market of direction.

Zinc prices dropped as the dollar rose on prospects for an increase in U.S. interest rates this year.

Nickel prices gained as the Philippines’ nickel production is set to decline this year due to its mining clampdown.

Natural gas recovered to end with gains shrugging off government data that showed a much-larger-than-expected addition to stockpiles.

Commodity Market update:-

GOLD

PP-29691

R1- 29832                                   S1-29433

R2- 30090                                   S2-29292

SILVER

PP-41818

R1-42476                                     S1-40863

R2-43431                                     S2-40205

CRUDE OIL

PP-3345

R1- 3399                                      S1-3313

R2- 3431                                      S2-3259

NATURAL GAS

PP-202.8

R1- 206.4                                      S1-200.4

R2- 208.8                                      S2-196.4

COPPER

PP-320.5

R1- 321.8                                      S1-318.9

R2- 323.4                                      S2-317.6