BRENT CRUDE CLOSE TO $ 54,UNDER $ 1170 GOLD | TODAY COMMODITY MARKET UPDATE 09 DEC 2016.

COMMODITY MARKET OUTLOOK

Gold dropped after the dollar rebounded on the back of a decision by the ECB to extend monthly asset purchases until next December.

Silver dropped weighed down bya stronger U.S. dollar and expectations the U.S. Federal Reserve will hike rates next week.

Crude oil gained on growing optimism that non-OPEC producers might agree to cut output following a cartel agreement to limit production.

Copper edged lower as the dollar rebounded after ECB’s decision to cut its monthly asset purchases but extend the programmer until the end of 2017.

Zinc dropped tracking weakness from LME zinc which came under renewed selling pressure although it remains up in the week to date.

Nickel dropped as the dollar rebounded after seen supported on the back of expectations for more mining suspensions in the Philippines.

Natural gas settled down while recovered from the day's low of 241.30 rose after federal data showed a draw from stockpiles that was in-line with expectations

Commodity Market update:-

GOLD

PP-27817

R1- 27884                                   S1-27711

R2- 27990                                   S2-27644

SILVER

PP-41582

R1- 41806                                    S1-41301

R2- 42087                                    S2-41077

CRUDE OIL

PP-3404

R1- 3457                                        S1-3374

R2- 3487                                        S2-3321

NATURAL GAS

PP-244.0

R1- 251.7                                      S1-239.0

R2- 256.7                                      S2-231.3

COPPER

PP-393.9

R1- 397.1                                        S1-389.4

R2- 401.6                                        S2-386.2