COMMODITY MARKET OUTLOOK
Gold prices edged higher as the dollar retreated from
14-year high and some buyers were tempted to take advantage lower prices.
Silver prices dropped tracking weakness in base metals
prices and traders remained away more clues on the outlook for interest rates.
Crude oil traded in the range as the market waits to see how
OPEC manages its planned output cuts with Libya expecting to boost production.
Copper prices dropped as growing doubts about demand growth
in top consumer China reinforced the idea that recent gains were overdone.
Zinc prices dropped as profit-taking and book-squaring
towards year-end weighing on prices.
Nickel prices dropped on profit booking after prices
remained supported as the nickel supply chain continues to Spices tighten.
Natural gas prices ended with gains with traders betting
that winter cold is eating into a long-standing glut.
Commodity
Market update:-
GOLD
PP-26982
R1- 27054 S1-26922
R2- 27114 S2-26850
SILVER
PP-39768
R1- 38982 S1-38371
R2- 39389 S2-38147
CRUDE OIL
PP-3587
R1- 3619 S1-3564
R2- 3642 S2-3532
NATURAL GAS
PP-246.5
R1- 252.9 S1-241.4
R2- 258.0 S2-235.0
COPPER
PP-374.3
R1- 376.1 S1-371.2
R2- 379.4 S2-369.0
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