INTERNATIONAL MARKET CRUDE ROSE GOLD FELL | TODAY COMMODITY MARKET UPDATE 23 DEC 2016.

COMMODITY MARKET OUTLOOK

Gold prices ended with small losses as pressure continues amid expectations that the U.S. Federal Reserve will opt for more interest rate hikes in 2017.

Silver prices eased as the dollar advanced in choppy trade and on expectations that the U.S. Federal Reserve will further raise interest rates.

Crude oil gained supported by strong U.S. economic data and optimism that crude producers would abide by an agreement to limit output.

Copper recovered on short covering while still remains on the back foot after China reported drop in imports and on concerns of oversupply.

Zinc gained on short covering after prices dropped earlier after update that China steel prices retreated due to caution over future closures.

Nickel dropped as investors locked in profits tracking LME nickel prices slipped 1.2 percent to $10,730 a tonne.

Natural gas gained after data showed that natural gas supplies in storage in the U.S. fell much more than the five year average for this time of year last week.

mcx market tips

Commodity Market update:-

GOLD

PP-26970

R1- 27078                                   S1-26860

R2- 27188                                   S2-26752

SILVER

PP-39076

R1- 39292                                    S1-38755

R2- 39616                                    S2-38539

CRUDE OIL

PP-3594

R1- 3636                                       S1-3565

R2- 3665                                       S2-3523

NATURAL GAS

PP-241.8

R1- 245.2                                        S1-237.3

R2- 249.7                                        S2-233.9

COPPER

PP-374.7

R1- 379.2                                         S1-372.2

R2- 381.7                                         S2-367.7