COMMODITY
MARKET OUTLOOK
Gold prices gained as worries about the political landscape in the
United States and Europe and a subdued dollar reinforced investor interest.
Silver prices gained as investors scaled back expectations for a more
aggressive pace of rate hikes from the Federal Reserve this year.
Crude oil dropped as ample U.S. supplies and excess speculative length
outweighed OPEC output curbs and rising tensions between US and Iran.
Copper gained on short-covering as concerns about kinks in mine supply
have helped to turn speculators positive towards copper.
Zinc gains supported by firmness in other base metals despite LME
prices settled down hurt by the hike in China's interest rates that spurred a
sell-off in metals.
Nickel prices regained 700 level marks on prospects of tighter supply
after the Philippines said it would permanently Spices close half its nickel
production.
Natural gas dropped as bearish weather model revisions over the weekend
fails to push prices lower.
COMMODITY MARKET
LEVELS:-
GOLD
P. POINT- 29121
S1 -29022 R1-29292
S2 -28851 R2-29392
SILVER
P. POINT-42174
S1 - 42002
R1-42454
S2 - 41719 R2-42623
COPPER
P. POINT-392
S1- 390 R1-395
S2- 387 R2-397
NATURAL GAS
P. POINT-205.5
S1 -203 R1-208
S2 -200
R2-210
CRUDE OIL
P. POINT-3598
S1 -3556
R1-3620
S2 -3534
R2-3662
No comments:
Post a Comment