Daily Commodity Market News Report:18-Oct-2016

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  • LME Copper to Stay Range-Bound Trading.
  • Brent, NYMEX gain in Asia ahead of API figures, China data awaited.
  • Gold mostly steady in Asia as Fischer comments on rate outlook noted.

PRECIOUS METALS
Gold prices held mostly steady in Asia on Tuesday with comments from Fed Vice Chair Stanley Fischer noted as saying the central bank is “very close”
to job and price targets that should trigger a rate hike.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were little changed at $1,256.75.

Elsewhere in metals trading, silver futures for December delivery were up 0.05% at $17.483 a troy ounce.
Gold likely gained support at $1,337.50, the low from July 20 and was met with resistance at $ rate

BASE METALS
LME copper is expected to fluctuate between USD 4,670-4,705/mt during Asian trading hours on Tuesday and SHFE 1612 copper will move at RMB 37,100-
37,350/mt. The US dollar index fell overnight, but base metals remained weak, and should diverge at lows today.

US September CPI before seasonally adjusted is expected to improve. Annualized US September PPI was better than expected, with the growth the
biggest since December 2014. Core PPI was also in line with market expectations, meaning US inflation is on the rise. US five-year breakeven ratio
also expects US consumer goods index will rise at a 1.54% pace, the highest since May.

ENERGIES
Crude oil prices held gains in Asia on Tuesday with industry data on U.S. inventories ahead expected to set the tone along with China data on
growth, retail sales and industrial production due on Wednesday.

The American Petroleum Institute will release its estimates of crude and refined product stockpiles in the U.S. at the end of last week late on
Tuesday. The data will be followed on Wednesday with official figures from the U.S. Department of Energy.

Overnight, U.S. oil rose on Monday, and managed to stay above the $50 a barrel threshold as investors continued to eye the details of a planned
output cut by the Organization of the Petroleum Exporting Countries.

Commodity Market Levels

PRECIOUS LEVELS
CS GOLD (DECEMBER) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 30100
RESIST 1: 29900
SUP 1: 29450
SUP 2: 29300

CS SILVER (DECEMBER) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 43300
RESIST 1: 43000
SUP1: 41200
SUP2: 40900

BASEMETAL LEVELS
CS COPPER (NOVEMBER) OVERVIEW:
TREND : BEARISH
RESIST 2:319
RESIST 1:317
SUP1:311
SUP2:309

CS NICKEL ( OCTOBER ) OVERVIEW:
TREND : BEARISH
RESIST 2: 702
RESIST 1: 695
SUP1: 680
SUP2: 670

CS ZINC ( OCTOBER ) OVERVIEW:
TREND : BULLISH
RESIST 2:154.00
RESIST 1:153.00
SUP1:150.50
SUP2:149.50

CS LEAD ( OCTOBER ) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:135.00
RESIST 1:134.00
SUP1:131.50
SUP2:130.80

CS ALUMINIUM ( OCTOBER ) OVERVIEW:
TREND : BEARISH
RESIST 2:122.50
RESIST 1:111.50
SUP1:109.60
SUP2:108.70

ENERGY LEVELS
CS CRUDE OIL (OCTOBER) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:3440
RESIST 1:3400
SUP1:3300
SUP2:3270

CS NATURAL GAS ( OCTOBER ) OVERVIEW:
TREND : BEARISH
RESIST 2:225.00
RESIST 1:222.00
SUP1:214.00
SUP2:211.00

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