GOLD EDGES HIGHER,UPSIDE SEEN LIMITED | TODAY COMMODITY MARKET UPDATES 08 DEC 2016.

COMMODITY MARKET OUTLOOK

Gold prices edged higher as a weaker dollar pushed investors to lock in gains on the metal’s recent decline.

Silver gained as the dollar eased ahead of an ECB meeting, and on the view that a U.S. rate rise next week was already reflected in prices.

Crude oil dropped on persistent doubts whether a planned crude production cut led by OPEC and Russia would be deep enough to end a supply overhang.

Copper prices dropped on profit booking buoyed by signs that global manufacturing activity will return to a healthier footing next year.

Zinc prices dropped as concerns that the metal's rally had become overstretched outweighed prospects of higher demand.

Nickel dropped on profit booking tracking LME prices fell 1.7 percent to $11,410 after prices seen supported on Philippines mines update.

Natural gas gained as weather forecasts have shown below-average temperatures coming in across the country.

Commodity Market update:-

GOLD

PP-27915

R1- 28020                                   S1-27805

R2- 28130                                   S2-27700

SILVER

PP-41599

R1- 42347                                    S1-41199

R2- 42747                                    S2-40451

CRUDE OIL

PP-3416

R1- 3462                                       S1-3350

R2- 3528                                       S2-3304

NATURAL GAS

PP-249.8

R1- 253.2                                      S1-246.4

R2- 256.6                                      S2-243.0

COPPER

PP-398.5

R1- 403.9                                        S1-390.2

R2- 412.2                                        S2-384.8