Thursday, 27 April 2017

Nickel Dropped On Worries About Demand From Top Consumer China

Nickel trading range for the day is 586-600.

Nickel dropped on worries about demand from top consumer China after its trade data showed falling imports of the metal.

Stock of nickel in LME warehouses at 379,338 tonnes account for about 20 percent of global consumption estimated at around 2 million tonnes this year.

China's imports of nickel between Jan-March at 43,382 tonnes were down 60 percent from the same period last year. 


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Aluminium Prices Settled Flat As Many Aluminum Smelters In China

Aluminium trading range for the day is 124.1-126.5.

Aluminium prices settled flat as many aluminum smelters in China were lured to come back online.
Goldman Sachs expects aluminium to be at $US2,000 and $US2,100 in six and 12 months time respectively.

Data showed aluminum capacity in operation nationwide was less than 31 million tonnes in early 2016, but the figure surged to 36.5 million tonnes at the end of 2016.

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Natural Gas Edged Higher As Traders Continued To Monitor Shifting Weather Forecasts

Natural gas trading range for the day is 200.6-215.2.

Natural gas edged higher as traders continued to monitor shifting weather forecasts to assess the outlook for early-spring demand and supply levels.
High pressure is expected to dominate the western and southern US with warmer than normal conditions during the period.

The EIA's next storage report due on Thursday is expected to show a build in a range between 65 and 75 billion cubic feet in the week ended April 21.


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Crude Oil Gains As Concerns Over Rising Levels Of U.S. Crude Oil

Crude oil trading range for the day is 3116-3268.

Crude oil gains as concerns over rising levels of U.S. crude oil inventories abated, after the EIA reported U.S. crude inventories fell more than expected.

The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 3.6 million barrels in the week ended April 21.

A report by API showed that U.S. crude oil inventories rose by 897,000 barrels in the week to April 21 to 532.5 million barrels.

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Silver Dropped As Investors Dumped Safe Haven Assets Amid

Silver trading range for the day is 39367-40621.

Silver dropped as investors dumped safe-haven assets amid reduced concerns over the French presidential elections.

U.S. Treasury Secretary Steven Mnuchin confirmed that the Trump administration’s tax plan will include a 15% corporate tax rate.

Holdings at ishares silver trust gained by 0.90% i.e. 91.27 tonnes to 10272.97 tonnes from 10181.70 tonnes.


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Gold Fell As Investor Appetite For Riskier Assets Surged

Gold trading range for the day is 28572-28894.

Gold fell as investor appetite for riskier assets surged on renewed optimism over the U.S. economy and as political uncertainty in France receded, softening demand.

The European Central Bank is set to keep its ultra-easy policy stance firmly in place on Thursday but may acknowledge better growth prospects.

Fears that tax cuts would punch another hole in deficit-reduction efforts may weaken the dollar.


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Wednesday, 26 April 2017

Zinc Eased As Investors Looking To Book Gains After A Surprise Overnight Lift

Zinc trading range for the day is 164.7-169.1.

Zinc eased as investors looking to book gains after a surprise overnight lift following a market-friendly French presidential vote.

U.S. consumer confidence fell from a more than 16-year high in April and new home sales surge to an eight-month high.

Zinc daily stocks at Shanghai exchange came down by 2727 tonnes.


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Copper Gains As Risk Appetite Continued To Strengthen Following Centrist

Copper trading range for the day is 362.2-369.4.

Copper gains as risk appetite continued to strengthen following centrist Emmanuel Macron's victory in the first round of the French presidential election. 

Workers at mining company Southern Copper Corp in Peru have reached a deal with management to end a two-week strike.

China's refined copper imports fell 36.2 percent in March versus a year ago, customs data showed.

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Natural Gas Edged Lower For The Fourth Straight Session

Natural gas trading range for the day is 199.7-206.3.
Natural gas edged lower for the fourth straight session as mild spring weather dampened demand for the fuel.

Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on spring demand.

Weather systems will sweep across the Great Lakes and Northeast with showers and slightly cool temperatures through the end of the month.

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Crude Oil Dropped As Doubt Swirling Over OPEC's Ability

Crude oil trading range for the day is 3137-3217.

Crude oil dropped as doubt swirling over OPEC's ability to force global crude inventories to drop, sentiment has turned more bearish.

Crude oil inventories unexpectedly rose 900,000 barrels at the end of last week, the American Petroleum Institute showed.

Russia said its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do not extend their supply reduction deal beyond June 30.

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Silver Dropped Despite A Slump In The Dollar, As Investors Continued

Silver trading range for the day is 39864-41364.

Silver dropped despite a slump in the dollar, as investors continued to favour riskier assets for the second straight day. 

U.S. consumer confidence fell from a more than 16-year high in April, but new home sales surge to an eight-month high.

Holdings at ishares silver trust gained by 0.61% i.e. 6183 tonnes to 10181.70 tonnes from 10119.87 tonnes.


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Gold Eased As Investor Sentiment Remains Skewed Toward Riskier

Gold trading range for the day is 28578-29188.

Gold eased as investor sentiment remains skewed toward riskier assets in the wake of the French election results on Sunday.

Goldman Sachs, in a note said it continues to expect gold to come under pressure in the near term on a potential rally in real interest rates.

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.69 percent to 854.25 tonnes on Tuesday. 

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Tuesday, 25 April 2017

Natural Gas Prices Dropped As Traders Monitored Shifting

Natural gas trading range for the day is 192.2-205.2.

Natural Gas prices dropped as traders monitored shifting weather forecasts to assess the outlook for early-spring demand and supply levels.

Weather systems will impact, with showers and cooling combining to drive slightly stronger than normal demand.

Prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting forecasts on early-spring demand.


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Crude Oil Dropped On Lack Of Confirmation That OPEC Will Extend

Crude oil trading range for the day is 3133-3275.

Crude oil dropped on lack of confirmation that OPEC will extend output cuts, while Russia indicated it can lift output.

Russian output could climb to its highest rate in 30 years if producers do not extend a 6-month supply reduction deal beyond June 30.

Sentiments remain weak on signs that rising US shale production offset efforts by OPEC to cut output by almost 1.8mbpd in the first half of the year.


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Silver Opened With Gap Down As Investors Pulled

Silver trading range for the day is 40650-41430.

Silver opened with gap down as investors pulled out of safe-haven assets after pro-European candidate Emmanuel Macron won the first round.

Silver dropped after polls indicated Mr Macron would emerge victorious against anti-EU candidate Marine Le Pen in the run-off vote, scheduled for May 7.

Support seen after North Korea said that it was ready to sink a US aircraft carrier, as two Japanese navy ships joined a U.S. carrier group.

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Gold Fell After Centrist Macron Led The First Round Of Voting

Gold trading range for the day is 28824-29404.

Gold fell after centrist Macron led the first round of voting in the French presidential election, boosting stocks and triggering a sell-off of safe-haven bullion.

Centrist Emmanuel Macron took a big step towards the French presidency on Sunday by winning the first round of voting and qualifying for a May 7 runoff.

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.17 percent to 860.17 tonnes on Monday.

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Monday, 24 April 2017

Copper Dropped As Worries Over Political Instability

Copper trading range for the day is 357.9-368.5.

Copper dropped as worries over political instability and global demand prompted investors to cut bets on higher prices.

China's refined copper output rose 8.5 percent in March from a year ago to 764,000 tonnes, its highest since at least December 2015.

The International Copper Study Group said the global world refined copper market showed a 51,000-tonne surplus in January.

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Natural Gas Prices Ended With Losses As Momentum Based Traders Pile

Natural gas trading range for the day is 195.9-208.5.

Natural gas prices ended with losses as momentum-based traders pile on to a recent losing skid tied to a weak time of year for demand.

A late-winter rally has been followed up by a steady retreat throughout April, a time of year when temperate weather often lowers demand for the heating fuel.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 54 billion cubic feet.

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Crude Oil Prices Dropped On Renewed Concerns

Crude oil trading range for the day is 3127-3345.

Crude oil prices dropped on renewed concerns that increasing U.S. production and high inventories will thwart OPEC's attempts to reduce the global crude glut.

Prices seen pressure as doubts emerged over the effect of the OPEC/non-OPEC production cut by almost 1.8 million barrels per day during the first half of the year.

Saudi Arabia and Kuwait, favour extending their production-limiting deal with non-member producers into the second half of the year.

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Silver Dropped As Investors Kept An Eye On The Upcoming French Presidential Vote


Silver trading range for the day is 40913-41663.

Silver dropped as investors kept an eye on the upcoming French presidential vote that is seen as too close to call.

Bullish expectations concerning Trump’s tax reform plan, which is viewed as a pro-growth policy, had fuelled the recent post-election “Trump rally”.

Holdings at ishares silver trust dropped by 0.29% i.e. 29.45 tonnes to 10119.87 tonnes from 10149.32 tonnes.

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Gold Prices Rose As Investors Awaited The First Round

Gold trading range for the day is 29139-29587.

Gold prices rose as investors awaited the first-round of voting in the presidential French election at the weekend and possible announcements about tax changes in US.

There was potential for safe-haven buying of gold after France said security forces were fully mobilized for the weekend vote.

SPDR gold trust holdings gained by 0.52% i.e. 4.44 tonnes to 858.69 tonnes from 854.25 tonnes.

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Gold trading range for the day is 29139-29587.
* Gold prices rose as investors awaited the first-round of voting in the presidential French election at the weekend and possible announcements about tax changes in US.
* There was potential for safe-haven buying of gold after France said security forces were fully mobilized for the weekend vote.
* SPDR gold trust holdings gained by 0.52% i.e. 4.44 tonnes to 858.69 tonnes from 854.25 tonnes.
- See more at: http://investmentguruindia.com/CommoditiesReports/-Gold-trading-range-for-the-day-is-29139-29587---Kedia-Commodity#sthash.gUS03ltX.dpuf

Thursday, 13 April 2017

Crude Oil Futures In Reverse Gear On Rising US Inventories

Crude oil futures were trading lower during afternoon trade in the domestic market on Thursday as investors and speculators exited their positions in the energy commodity as rising US inventories stoked worries about global oversupply. Meanwhile, investors focussed on preliminary US production estimates in EIA report that suggested domestic output is still climbing. 

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Gold Futures Were Trading Higher During Afternoon Trade

Gold futures were trading higher during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal as the US dollar slid after President Trump said that the currency was too strong.

Moreover, rising tensions over US relations with Russia and North Korea, too lifted gold prices. At the MCX, gold futures for June 2017 contract is trading at Rs 29337 per 10 grams, up by 0.37 per cent.

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Gold futures were trading higher during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal as the US dollar slid after President Trump said that the currency was too strong. - See more at: http://investmentguruindia.com/Commodities/Gold-glitters-on-weaker-greenback-political-worries#sthash.N3jPtSnN.dpuf

Wednesday, 12 April 2017

Nickel Dropped As The Two Biggest Nickel Miners In The Philippines

Nickel trading range for the day is 617.2-668. Nickel dropped as the two biggest nickel miners in the Philippines, said prices for the metal would be robust this year due to growing demand from China. 

However downside seen limited as powerful cyclone that hit New Caledonia and shuttered nickel operations has moved offshore.

Forecasts from the likes of the World Bank show prices could average around $11,000 in 2017 that would compare to around $9,500 last year.

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Copper Traded In Range Weighed Down By Concerns

Copper trading range for the day is 367.4-377.6.

Copper traded in range weighed down by concerns about oversupply as the world's top two copper mines look to recover from disruptions.
Prices have faltered since shipments resumed from BHP Billiton's Escondida mine in Chile.

A Southern Copper Corp spokesman said its operations in Peru were near normal as workers started an indefinite strike, despite sources said 80% of capacity was affected. 

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Natural Gas Dropped To Settle At 203.90 Posted

Natural gas trading range for the day is 198.6-213.8.

Natural gas dropped to settle at 203.90 posted its biggest losses in four weeks as traders cautious about whether.

Demand will be slightly below normal this week as high pressure holds strong as highs continue to reach the 60s to 80s.

Weather system will track across the Northeast for a slight and quick increase in heating demand, although warming back above normal this weekend. 


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Crude Oil Finished Higher As Prices Rebounded On Talk

Crude oil trading range for the day is 3388-3486.

Crude oil finished higher as prices rebounded on talk of a possible extension to the OPEC-led production cut agreement.

OPEC countries wants to extend the group’s agreement to cut crude production for another six months when OPEC meets in May.

Support seen on geopolitical worries, North Korea’s foreign ministry warned that it was ready for “war” if the US makes further military moves. 

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Silver Rallied As Support Seen After Investors Fled Risk Assets

Silver trading range for the day is 40974-42882. Silver rallied as support seen after investors fled risk assets and sought refuge in safe-haven gold amid rising geopolitical tensions. 

Tensions escalated as Western countries were joined by Middle Eastern allies in a push to isolate Syrian President following a chemical attack.

Federal Reserve plans to raise U.S. interest rates gradually so as to sustain healthy growth without letting the economy overheat.

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Gold Prices Rallied As Investors Fled Risk Assets

Gold trading range for the day is 28598-29526.

Gold prices rallied as investors fled risk assets and sought refuge in safe-haven gold amid rising geopolitical tensions.

Investors poured into safe-haven assets, after expectations grew the U.S. may take military action against North Korea.

SPDR gold trust holdings gained by 0.50% i.e. 4.15 tonnes to 842.42 tonnes from 838.26 tonnes.

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Tuesday, 11 April 2017

Copper Eased As Rising Geopolitical Tensions Blunted Appetite

Copper trading range for the day is 368.8-377.8.
Copper eased as rising geopolitical tensions blunted appetite for risk and lifted the dollar, but prices were underpinned by tightening supply.


LME copper stocks are at the lowest since early March, while ShFE copper stocks rose last week, but are down from near one-year highs reached a month ago.

Hedge funds and money managers cut their net long position in copper futures U.S. Commodity Futures Trading Commission data showed.


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Natural Gas Settled Down Marginally While Continuing A Small Retreat

Natural gas trading range for the day is 205.9-214.5.
Natural gas settled down marginally while continuing a small retreat from 2 1/2-month highs on mild weather may limit demand.

US NOAA temperatures are forecast to be above normal across most of the southern and eastern United States through the next month.

Hedge funds and other money managers had amassed a net long position equivalent to 3,280 billion cubic feet.


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Crude Oil Prices Climbed Higher Reaching It Best Closing Level

Crude oil trading range for the day is 3341-3471.
Crude oil prices climbed higher reaching it best closing level in over a month amid concerns about geopolitical tensions.


Support also seen after the update that Libya's Sharara oilfield was shut after a group blocked a pipeline linking it to an oil terminal.

Headlines of Chinese troop deployments to the North Korean border that spooked markets and once again spurred a geopolitical fear bid in bullion.


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Silver Prices Edged Lower As The U.S. Dollar Continued

Silver trading range for the day is 40818-41742.
Silver prices edged lower as the U.S. dollar continued to remain supported by Federal Reserve policy tightening expectations.


Prices will see support as growing geopolitical tensions continued to drive safe-haven demand.

iShares Silver Trust shrink at the fastest pace in at least 3 years, with shareholders liquidating 346 tonnes of the trust's physical silver backing.


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Gold Recovered From The Day's Low And Held Firm Buoyed

Gold trading range for the day is 28541-28899.
Gold recovered from the day's low and held firm buoyed by its safe-haven status amid rising political tensions.


Expectations that the Federal Reserve will hike rates in June continued to limit upside for gold prices.

Hedge funds and money managers upped their net long position in COMEX gold for the third straight week in the week to April 4, US CFTC.


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Gold trading range for the day is 28541-28899.
Gold recovered from the day's low and held firm buoyed by its safe-haven status amid rising political tensions.
Expectations that the Federal Reserve will hike rates in June continued to limit upside for gold prices.
Hedge funds and money managers upped their net long position in COMEX gold for the third straight week in the week to April 4, US CFTC    - See more at: http://investmentguruindia.com/CommoditiesReports/Gold-trading-range-for-the-day-is-28541-28899---Kedia#sthash.jj41wlKJ.dpuf
Gold trading range for the day is 28541-28899.
Gold recovered from the day's low and held firm buoyed by its safe-haven status amid rising political tensions.
Expectations that the Federal Reserve will hike rates in June continued to limit upside for gold prices.
Hedge funds and money managers upped their net long position in COMEX gold for the third straight week in the week to April 4, US CFTC    - See more at: http://investmentguruindia.com/CommoditiesReports/Gold-trading-range-for-the-day-is-28541-28899---Kedia#sthash.jj41wlKJ.dpuf

Monday, 10 April 2017

Zinc Dropped As Supply Tightness Eased Recently

Zinc trading range for the day is 167.3-178.5.

Zinc dropped as supply tightness eased recently after restarts at mines driven by high zinc prices
The discount of LME cash zinc to the three-month contract shrank to $23.80 a tonne from $27.75 earlier in the week.

Votorantim saying Cajamarquilla in Peru would resume operations at 50% of capacity after a period of suspension due to floods.

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Copper Fell After A U.S. Air Strike On Syria Prompted

Copper trading range for the day is 366.6-384.2. Copper fell after a U.S. air strike on Syria prompted investors to move out of riskier assets. 

The discount of LME cash copper to the three-month contract closed at $31.25 a tonne, close to the biggest in four years, indicating adequate supply.

China's foreign exchange reserves rose slightly in March, though by a bit less than the market expected. 

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Natural Gas Prices Dropped On Profit Booking As Warmer

Natural gas trading range for the day is 206.1-216.7. Natural gas prices dropped on profit booking as warmer than normal weather is expected to cover most of the United States. 

Meanwhile, traders monitored shifting weather forecasts to assess the outlook for early-spring demand and supply levels.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 2 billion cubic feet.

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Crude Oil Prices Climbed After The U.S. Launched

Crude oil trading range for the day is 3280-3438.

Crude oil prices climbed after the U.S. launched cruise missiles at an airbase in Syria, sparking concerns of an escalation in the Syrian civil war.

Crude prices had also strengthened this week amid increasing optimism that OPEC’s supply curbs are beginning to rebalance the market.

Shipped oil flows also remain higher than at any time during the second half of 2016, before the OPEC-led cuts were implemented.


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Silver Dropped As The Safe Haven Demand Faded

Silver trading range for the day is 40342-42950.

Silver dropped as the safe haven demand faded and the dollar index climbed to three-week highs.

U.S. employers added the fewest number of workers in 10 months in March which is most attractive to investors in a low interest rate environment.

The Bureau of Labor Statistics reported, Nonfarm payrolls grew by just 98,000 in March, well below expectations of 180,000.


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Gold Prices Gave Up Most Of Its Gains

Gold trading range for the day is 28443-29121. Gold prices gave up most of its gains as the dollar rose and safe haven demand ebbed.

Prices strengthened earlier after U.S. launched cruise missiles at an airbase in Syria, sparking concerns of an escalation in the Syrian civil war. 

Gold reserves value fell to $73.74 billion at the end of March, from $74.376 billion at end-February, data published on the People's Bank of China website also showed.

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Friday, 7 April 2017

Zinc Prices Dropped On Profit Booking Ahead Of A Meeting

Zinc trading range for the day is 171.1-183.5. Zinc prices dropped on profit booking ahead of a meeting between the leaders of China and the United States.

Australian miner South32 Ltd cut's LEAD and ZINC's output forecasts on Thursday after a fire at its Cannington silver and lead mine. 

South Korea is seeking 1,000 tonnes of zinc for June arrival.

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Copper Dropped On Profit Booking After Prices Seen Supported

Copper trading range for the day is 375-388.2. Copper dropped on profit booking after prices seen supported getting a boost from news of a strike at the Peruvian operations of Southern Copper. 

Pan Pacific Copper, plans to produce 235,200 tonnes of refined copper between April and September, down 19.9 percent from a year-ago period.

Rio Tinto's chief said copper market is likely to see a small shortage because of a lack of new supply. 

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Natural Gas Extending Gains After Data Showed

Natural gas trading range for the day is 207-219.6. Natural gas extending gains after data showed that natural gas supplies in storage in the U.S. rose less than expected last week.
EIA said in its weekly report that natural gas storage in the US rose by 2bcf in the week ended March 31.

Traders monitored shifting weather forecasts to assess the outlook for early-spring demand and supply levels.

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Crude Oil Gained Posting A Fourth Straight Day Of Gains

Crude oil trading range for the day is 3288-3390.

Crude oil gained posting a fourth straight day of gains, but prices remained cautious about record-high U.S. crude inventories.

EIA reported an increase of 1.57 million barrels in crude inventories, bringing total U.S. stocks to a record of 535.5 million barrels.

The record crude inventories came as U.S. oil production rose 52,000 bpd to 9.2 mbpd, a more than 9 percent increase since mid-2016.

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Silver Prices Dropped As New Applications For U.S.

Silver trading range for the day is 41708-42582.

Silver prices dropped as new applications for U.S. unemployment benefits last week recorded their biggest drop in nearly two years.

With the monthly jobs report looming, data showed a much bigger than expected drop in first-time claims for U.S. unemployment benefits.

Holdings at ishares silver trust dropped by 0.29% i.e. 29.45 tonnes to 10208.21 tonnes from 10237.66 tonnes.

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Gold Edged Lower Pressured By A Firmer Dollar

Gold trading range for the day is 28542-29040.

Gold edged lower pressured by a firmer dollar on the back of upbeat U.S. unemployment data and as some investors sold to redeem profits.

Investors digested minutes from Fed’s policy meeting released which showed that the central bank would start to unwind its $4.5 trillion balance sheet later this year.

Investors were also cautious ahead of the meeting between U.S. President Donald Trump and Chinese President Xi Jinping due later on Thursday.

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Thursday, 6 April 2017

Copper Gained Following Upbeat Jobs Data From The United States

Copper trading range for the day is 374.7-392.7.

Copper gained following upbeat jobs data from the United States and the return of Chinese buyers after a two-day break.

Prices came under pressure last week from indications that a number of production outages that had driven prices sharply higher in February were coming to an end.

Peru will likely gradually increase its copper production to 3.1 million tonnes in 2021 from an annual 2.35 million tonnes expected for both this year and next.

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Natural Gas Rose As Traders Monitored Shifting Weather Forecasts

Natural gas trading range for the day is 208-220.

Natural gas rose as traders monitored shifting weather forecasts to assess the outlook for early-spring demand and supply levels.

Overall, an active spring pattern is expected the next two weeks across most parts of the U.S. with swings in demand between slightly lighter and stronger than normal.

Meanwhile, market participants looked ahead to weekly storage data, which is expected to show a build of 10 billion cubic feet.


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Crude Oil Prices Pared Gains After A Surprise Rise

Crude oil trading range for the day is 3280-3400.

Crude oil prices pared gains after a surprise rise in inventories and uncertain prospects for President Trump's proposed tax cuts and spending plans

EIA said in its weekly report that crude oil inventories rose by 1.566mbls in the week ended March 31.

Goldman Sachs expects oil prices to remain between US$50-55 per barrel between 2018-2020.

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Silver Prices Eased Pressured By A Surge In The Dollar

Silver trading range for the day is 41974-42660.

Silver prices eased pressured by a surge in the dollar, after the release of bullish U.S. private sector job growth.

The ADP National Employment Report showed that U.S. private employers added 263,000 jobs in March, beating forecasts of 187,000 additions.
Euro zone businesses enjoyed their best quarter in six years at the start of 2017 and although growth was not quite as fast as a flash estimate, the upturn was broad-based.


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