CRUDE IN THE INTERNATIONAL MARKET FELL, GOLD STEADY | TODAY MCX MARKET REPORT UPDATE 22 DEC 2016.

COMMODITY MARKET OUTLOOK

Gold prices remained under pressure as a firm U.S. dollar and the possibility of further U.S. interest rate hikes next year continued to weigh.

Silver prices dropped tracking weakness in base metals and crude oil prices as a leading dollar index revived its run to fresh 14-year highs.

Crude oil dropped as prices declined after data showed a surprise increase in U.S. crude supplies last week.

Copper remained under pressure from worries about an oversupplied market and funds cutting bets on higher prices over coming days.

Zinc dropped on the concerns about excess supply and pressure seen after China's zinc smelters are accepting record low fees to produce metal amid a shortage of ore.

Nickel dropped tracking weakness from LME Nickel as supply-side issues in Indonesia and the Philippines have again Spices taken centre stage in the nickel market.

Natural gas regained to settle up 5.78% at 238.10 rose with traders betting that winter cold is eating into a longstanding glut.

Commodity Market update:-

GOLD

PP-27056

R1- 27140                                   S1-26905

R2- 27291                                   S2-26821

SILVER

PP-39323

R1- 39580                                    S1-38883

R2- 40020                                    S2-38626

CRUDE OIL

PP-3601

R1- 3640                                       S1-3539

R2- 3701                                       S2-3500

NATURAL GAS

PP-233.8

R1- 242.8                                        S1-229.0

R2- 247.6                                        S2-220.0

COPPER

PP-376.2

R1- 377.6                                         S1-373.9

R2- 379.9                                         S2-372.5