COMMODITY
MARKET OUTLOOK
Gold prices dropped as
speculation grew that the U.S. Federal Reserve would press ahead with a rate
increase this month.
Base Metal Silver prices moved
lower as growing expectations for a March rate hike in the U.S. and a stronger
U.S. dollar continued to weigh on the precious metal.
Crude oil gained as a weaker
dollar encouraged buying but investors remained cautious while the as number of
U.S. oil rigs rose for the seventh straight week.
Copper prices traded in range and
ended with small gains amid concerns over a strike at the world's largest
copper mine in Chile.
Zinc prices settled flat as
pressure seen tracking LME prices slipped 0.2 percent to $2,775 a tonne as the
dollar largely retained recent gains.
Nickel prices gained as support
seen after update that The Philippines could consider banning exports of
unprocessed Spices minerals such as nickel.
Natural gas prices dropped as
pressure seen amid rise in inventory despite of slightly cooler weather
forecasts.
COMMODITY MARKET
LEVELS:-
GOLD
P. POINT- 29057
S1 -28914 R1-29162
S2 -28809 R2-29305
SILVER
P. POINT-42527
S1 - 42354
R1-42704
S2 - 42177 R2-42877
COPPER
P. POINT-398
S1- 396 R1-400
S2- 394 R2-401
NATURAL GAS
P. POINT-187
S1 -185 R1-191
S2 -183
R2-193
CRUDE OIL
P. POINT-3548
S1 -3529
R1-3576
S2 -3501
R2-3595
No comments:
Post a Comment