Naturalgas trading range for the day is 188.1-196.3. Natural gas prices fell for the third straight week, setting a three-month low as a historically mild winter continues to drag on the market. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. declined by 114 billion cubic feet. That compared with a withdrawal of 152 billion cubic feet in the preceding week, 163 billion a year earlier .
Gold Trading range for the day is 28822-29262. Gold pared gains as dollar advanced after U.S. Federal Reserve Chair Janet Yellen said the central bank will likely need to raise interest rates. Richmond Fed President Jeffrey Lacker said the U.S. central bank will likely have to raise rates faster than financial markets currently expects. U.S. producer prices recorded their largest gain in more than four years in January amid increases in the cost of energy products.
Silver Trading range for the day is 41864-43196. Silver settled flat after Fed’s Yellen told Congress that waiting too long to raise interest rates would be “unwise” as economic growth continues and inflation rises. The Federal Reserve will likely need to raise interest rates at an upcoming meeting, Yellen said. Dallas Fed President Robert Kaplan said the U.S. central bank should act soon to raise rates, or risk having to abandon its plan to do so slowly.
Zinc Trading range for the day is 192.8-200. Zinc dropped tracking weakness from LME zinc closed down 0.3 percent as stronger dollar weighed. The surge was mainly because Korea Zinc expected its sales to fall by 6.7% in 2017 in its financial report, which raised market expectation. Zhuzhou Smelter Group will remove its old factory in 2017, and output will not be affected over the year, as the plan is only at the initial stage.
Contact Us @ +918815278555
Read More@ https://www.capitalbuilder.in/free-trial/
Nickel Trading range for the day is 707.2-725.2. Nickel gained on short-covering as support seen after the update that supply deficit last year of 209,000 metric tons Philippine President Duterte said he would not stand in the way of his minister’s decision to close several mines. Duterte’s support of Lopez’s latest action suggests miners may be forced to go to courts to overturn her ruling.
Aluminium Trading range for the day is 124.2-126.4. Aluminium ended with gains after update China is considering forcing aluminium producers to cut more output. Any kind of extreme market fluctuation would be dependent on the Chinese government following through on the shutdown of aluminum-rich provinces China’s exports of unwrought aluminum were 390,000 mt in January, up 2.6% YoY.
Gold Trading range for the day is 28822-29380. Gold prices recovered from lows to end with gains as the U.S. dollar and Treasury yields came off their highs. U.S. economic data has also stoked talk that the Federal Reserve would press ahead with U.S. interest rate hikes sooner rather than later. SPDR gold trust holdings gained by 0.50% i.e. 4.14 tonnes to 836.72 tonnes from 832.58 tonnes.
Crudeoil Trading range for the day is 3511-3669. Crude oil gained after reports that OPEC members delivered more than 90 percent of the output cuts they pledged in a landmark deal that took effect in January. IEA says record OPEC cut compliance helps oil market rebalance Supply from the 11 members of the OPEC with production targets under the deal fell to 29.92 million barrels per day.
CONTACT US @ +918815278555
Nickel trading range for the day is 674-709.2. Nickel dropped below 690 level as dollar gained as data showing rising U.S. wholesale inventories Russia’s Nickel exports slid, Nickel exports totaled 185,700 tonnes Negative news from the Philippines will kept affecting the market.
READ MORE@ https://www.capitalbuilder.in/
CONTACT US @+918815278555
Copper Trading range for the day is 384.9-398.1. Copper dropped as dollar gained while concerns over whether the supply and demand backdrop justified its recent rally Workers in Chile went on strike, with the union saying that night workers would not be replaced. In Indonesia, Freeport-McMoRan Inc’s Grasberg mine has yet to be granted a new export permit.
READ MORE @ https://www.capitalbuilder.in/contact-us/
CONTACT US @ 8815278555
Capital Builder Financial Service 