COMMODITY MARKET OUTLOOK
Gold prices edged up as geopolitical tensions offset expectations
of tighter U.S. monetary policy and a stronger U.S. dollar.
Silver dropped as prices continues to track dollar gains and the
stock market’s cautious push deeper into record territory.
Crude oil rose in anticipation of tighter crude supply going into
2017 following the decision by OPEC and other producers to cut output.
Copper prices ended with losses as pressure continues as
inventories pile up ahead of year-end.
Zinc on MCX settled at 175.75 dropped tracking weakness on LME
Zinc which slides more than 5 pct to lowest since Nov. 23
Nickel on MCX settled down -2.9% at 736.30 tracking weakness from
LME Nickel which ended the day with 2.6 Spices percent lower at $10,880 a
tonne.
Natural gas prices recovered on short covering after prices
dropped as forecasts showing a return to mild weather after a frigid cold blast
in the eastern U.S. weighed.
Commodity
Market update:-
GOLD
PP-27236
R1- 27304 S1-27192
R2- 27348 S2-27140
SILVER
PP-39480
R1- 39624 S1-39288
R2- 39816 S2-39144
CRUDE OIL
PP-3611
R1- 3641 S1-3589
R2- 3663 S2-3559
NATURAL GAS
PP-230.9
R1- 238.4 S1-228.0
R2- 235.5 S2-223.4
COPPER
PP-377.1
R1- 381.8 S1-370.9
R2- 388.0 S2-366.2
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