Wednesday, 12 November 2014

Commodity Market Evening Outlook

We expect gold and silver prices to trade lower as rising US equities coupled with further strength in the dollar will exert downside pressure. Outflows from the SPDR gold trust also indicates waning interest in the yellow metal acting as a negative 
factor for prices.

Crude oil prices are expected to trade lower continuing its recent run of losses as suppressed demand amid high supplies will act as a negative factor for prices. Opec nations continue its high production despite oil prices falling in the recent weeks.  Weak Chinese demand on account of slowdown in industrial activity will also act as a negative factor.

We expect copper prices to trade higher today as favorable data from Euro Zone along with increased concerns of supply disruption after strike at at Peru’s Antamina mine will support prices. However, investors will remain cautious ahead of industrial production from China due to be released tomorrow.
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