TODAY VIEW ON COMMODITIES MARKET REPORT UPDATE 03 MARCH 2017.

COMMODITY MARKET OUTLOOK

Gold dropped buoyed by a firm dollar and rising U.S. rate hike expectations in March following buoyant U.S. economic data.

Base Metal Silver dropped low as the dollar surged amid indications the Federal Reserve is preparing to raise interest rates later this month.

Crude oil dropped as concern over record high U.S. crude inventories offset optimism that OPEC and its allies have been following through to cut production.

Copper dropped as trader booked there long position tracking stronger dollar overwhelmed ongoing supply disruptions.

Zinc prices dropped as pressure seen after dollar index hits fresh seven week high on rate hike bets. Nickel dropped as a stronger dollar overwhelmed ongoing supply disruptions and evidence of improving demand.

Natural gas gained on short covering despite data showed that natural gas supplies rose for the first time since last March.

COMMODITY MARKET LEVELS:-

GOLD

P. POINT- 29245

S1 -29068                                                                   R1-29347

S2 -28966                                                                   R2-29524

SILVER

P. POINT-43039

S1 - 42088                                                                 R1-43595

S2 - 41532                                                                 R2-44595

COPPER

P. POINT-399.8

S1- 395                                                                       R1-402

S2- 392                                                                       R2-407

NATURAL GAS

P. POINT-187

S1 -184                                                                       R1-191

S2 -180                                                                       R2-193

CRUDE OIL

P. POINT-3554

S1 -3513                                                                     R1-3578

S2 -3489                                                                     R2-3619