GOLD DROPS TO 5 MONTH LOW | COMMODITY MARKET UPDATE REPORT 15 NOV 2016.

COMMODITY MARKET OUTLOOK

Gold prices gained on short covering after prices remained pressured by stronger U.S. dollar and expectations Fed will raise interest rates in December

Base Metal Silver prices fell as market players continued to dump the metal in wake of Donald Trump’s victory in the U.S. presidential election.

Crude oil dropped after OPEC said October output reached another record, casting doubt on whether its plan to limit production is achievable.

Copper gained helped by data showing strong fixed asset investment in China.

Zinc prices gained amid continued market optimism that a Trump presidency would boost infrastructure spending in the U.S.

Nickel prices gained as robust Chinese demand broadly supported a prices rebound.

Natural gas gained as market players looked ahead to cold weather forecast which should boost demand for the heating fuel.

Commodity Market update:-

GOLD

PP-29529

R1- 29777                                    S1-29360

R2- 29946                                    S2-29112

SILVER

PP-41077

R1- 41621                                    S1-40474

R2- 42224                                    S2-39930

CRUDE OIL

PP-2910

R1- 2941                                     S1-2880

R2- 2971                                     S2-2849

NATURAL GAS

PP-186.4

R1- 192.2                                    S1-183.3

R2- 195.3                                    S2-177.5

COPPER

PP-379.1

R1- 382.6                                    S1-374.9

R2- 386.8                                    S2-371.4