COMMODITY
MARKET OUTLOOK
Gold steadied as the dollar reversed losses and political tensions
simmered, leaving investor interest in safe havens like the precious metal
largely intact.
Base Metal Silver settled flat after prices seen supported as
heightened geopolitical tensions underpinned safe haven demand for the precious
metal.
Crude oil prices dropped as prices gave back some of its gain
despite bullish data showing a surprise inventory draw.
Copper eased shrugging off a tentative recovery in the broader
financial markets as geopolitical tensions and fading hopes for a boost to U.S.
demand pressured prices. Zinc gained on short covering after prices dropped
recently as data showed Chinese mine supply surged by nearly a fifth last year.
Nickel dropped as a tentative recovery in broader financial
markets lost steam, with geopolitical tensions and fading Spices hopes of a
boost to U.S. demand putting pressure on prices.
Natural gas recovered on short-covering ahead of the weekly US
Energy Information Administration natural gas storage report.
COMMODITY MARKET
LEVELS:-
GOLD
P. POINT- 29231
S1 -29165 R1-29295
S2 -29101 R2-29361
SILVER
P. POINT-42258
S1 - 42098
R1-42362
S2 - 41994 R2-42522
COPPER
P. POINT-366
S1- 360 R1-369
S2- 365 R2-375
NATURAL GAS
P. POINT-205
S1 -204 R1-208
S2 -201 R2-209
CRUDE OIL
P. POINT-3451
S1 -3424
R1-3470
S2 -3405
R2-3497
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