BRENT CRUDE NEAR $55, GOLD CLOSE TO $1175 | TODAY COMMODITY MARKET UPDATE 06 DEC 2016.

COMMODITY MARKET OUTLOOK

Gold fell after Italian Prime Minister Matteo Renzi conceded defeat in a referendum over his plan to reform the constitution.

Base Metal Silver settled flat as the U.S. dollar rose on expectations that the U.S. Federal Reserve will raise interest rates at its Policymaking meeting.

Crude oil gained fuelled by optimism about the prospect of a tightening market after OPEC members agreed to cut production last week.

Copper prices ended with gains on an improving demand outlook and concerns about supply constraints next year.

Zinc prices continued its firm trend underpinned by weakness in the dollar.

Nickel gains after the Philippines said it would close more mines on environmental grounds, potentially curbing supplies of nickel ore.

Natural gas prices rallied as cooler forecasts continue raising expectations for demand.

Commodity Market update:-

GOLD

PP-28000

R1- 28228                                    S1-27834

R2- 28394                                    S2-27606

SILVER

PP-41171

R1- 41599                                    S1-40931

R2- 41841                                    S2-40505

CRUDE OIL

PP-3533

R1- 3581                                       S1-3487

R2- 3627                                       S2-3439

NATURAL GAS

PP-244.4

R1- 252.2                                      S1-240.3

R2- 256.3                                      S2-232.5

COPPER

PP-405.2

R1- 411.3                                        S1-400.6

R2- 415.9                                        S2-394.5