Commodity Daily Fundamental Report - Sep 04, 2015 : Sushil Finance-Shanghai Metals Market

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Commodity Daily Fundamental Report - Sep 04, 2015 : Sushil Finance

Industry News 12:29:11PM Sep 06, 2015 Source:SMM

By  Paul Ploumis 04 Sep 2015  Last updated at  07:20:32 GMT

Gold fell 1 percent on Thursday as the dollar jumped versus the euro after the European Central Bank (ECB) cut inflation forecasts, while a U.S. jobs report that could provide clues on the timing of a Federal Reserve rate rise remained in focus

Friday, September 04, 2015

Commodity Daily

Gold

Gold fell 1 percent on Thursday as the dollar jumped versus the euro after the European Central Bank (ECB) cut inflation forecasts, while a U.S. jobs report that could provide clues on the timing of a Federal Reserve rate rise remained in focus. The ECB left interest rates unchanged at record lows as expected, but lowered its forecasts for inflation and economic growth, citing a slowdown in emerging markets and weaker oil prices. As a traditional hedge against inflation, gold suffered from the downward revision. U.S. weekly jobs data indicated a strengthening labor market, a day ahead of the more critical monthly jobs report, due at 6 pm IST on Friday, which should give a clearer picture about the strength of the world's biggest economy. Bullion traders remain wary of taking up new positions until they receive more clarity on whether the Fed will raise rates at its next meeting on Sept. 16-17, analysts said. Higher interest rates would increase the opportunity cost of holding nonyielding bullion. Also weighing on bullion was the absence of Chinese buyers with markets in China, a major gold consumer, closed through Friday for public holidays.


MAJOR COMMODITIES

CommodityExpiryHighLowCloseChange
Gold5-Oct26636  26326 26394 -235
Silver4-Sep34979 34530 34762 34
Crude Oil21-Sep3213  3042 3086 52
Natural Gas28-Sep181.70 175.40 180.90 3.70
Copper30-Nov358.00 347.00 352.60 6.65
Nickel30-Sep674.40 657.30 661.30 3.60
Aluminium30-Sep108.50 106.20 107.80 1.70
Lead30-Sep115.25 113.15 113.35 -0.45
Zinc30-Sep122.35  120.15 120.35 -0.65
CommodityExpiryHighLowClose ($)Change
Gold (Oz)Oct1132.90 1120.50 1124.00 -9.10
Silver (Oz)Dec14.95 14.55 14.71 0.04
Crude OilOct48.42 45.65 46.75 0.50
Natural GasSep2.74 2.63 2.73 0.08
Copper3M5314.00 5119.00 5220.00 105.50
Nickel3M10140.00 9840.00 9945.00 100.00
5 Aluminium3M1641.00  1596.00 1625.00 25.00
Lead3M1739.50 1707.00 1708.00 -9.00
Zinc3M1842.00 1811.00 1811.00 -9.00

Base Metals:

Copper surged to the highest level in over three weeks on Thursday as bearish investors closed out positions amid a stock market recovery, strong U.S. economic data and signals that European monetary stimulus could be extended. Aluminium also shot up, touching a one-month peak on the London Metal Exchange, but some investors were preparing a renewed attack on the downside. The overall metals market got a boost from a rise in global shares after the U.S. trade deficit fell to its lowest in five months and the European Central Bank indicated it could prolong its stimulus program. The Shanghai Futures Exchange is closed for two days as China celebrates the anniversary of the end of World War Two. Trading will resume on Monday.

Courtesy :Sushil Finance

Key Words:  gold price 

Commodity Daily Fundamental Report - Sep 04, 2015 : Sushil Finance

Industry News 12:29:11PM Sep 06, 2015 Source:SMM

By  Paul Ploumis 04 Sep 2015  Last updated at  07:20:32 GMT

Gold fell 1 percent on Thursday as the dollar jumped versus the euro after the European Central Bank (ECB) cut inflation forecasts, while a U.S. jobs report that could provide clues on the timing of a Federal Reserve rate rise remained in focus

Friday, September 04, 2015

Commodity Daily

Gold

Gold fell 1 percent on Thursday as the dollar jumped versus the euro after the European Central Bank (ECB) cut inflation forecasts, while a U.S. jobs report that could provide clues on the timing of a Federal Reserve rate rise remained in focus. The ECB left interest rates unchanged at record lows as expected, but lowered its forecasts for inflation and economic growth, citing a slowdown in emerging markets and weaker oil prices. As a traditional hedge against inflation, gold suffered from the downward revision. U.S. weekly jobs data indicated a strengthening labor market, a day ahead of the more critical monthly jobs report, due at 6 pm IST on Friday, which should give a clearer picture about the strength of the world's biggest economy. Bullion traders remain wary of taking up new positions until they receive more clarity on whether the Fed will raise rates at its next meeting on Sept. 16-17, analysts said. Higher interest rates would increase the opportunity cost of holding nonyielding bullion. Also weighing on bullion was the absence of Chinese buyers with markets in China, a major gold consumer, closed through Friday for public holidays.


MAJOR COMMODITIES

CommodityExpiryHighLowCloseChange
Gold5-Oct26636  26326 26394 -235
Silver4-Sep34979 34530 34762 34
Crude Oil21-Sep3213  3042 3086 52
Natural Gas28-Sep181.70 175.40 180.90 3.70
Copper30-Nov358.00 347.00 352.60 6.65
Nickel30-Sep674.40 657.30 661.30 3.60
Aluminium30-Sep108.50 106.20 107.80 1.70
Lead30-Sep115.25 113.15 113.35 -0.45
Zinc30-Sep122.35  120.15 120.35 -0.65
CommodityExpiryHighLowClose ($)Change
Gold (Oz)Oct1132.90 1120.50 1124.00 -9.10
Silver (Oz)Dec14.95 14.55 14.71 0.04
Crude OilOct48.42 45.65 46.75 0.50
Natural GasSep2.74 2.63 2.73 0.08
Copper3M5314.00 5119.00 5220.00 105.50
Nickel3M10140.00 9840.00 9945.00 100.00
5 Aluminium3M1641.00  1596.00 1625.00 25.00
Lead3M1739.50 1707.00 1708.00 -9.00
Zinc3M1842.00 1811.00 1811.00 -9.00

Base Metals:

Copper surged to the highest level in over three weeks on Thursday as bearish investors closed out positions amid a stock market recovery, strong U.S. economic data and signals that European monetary stimulus could be extended. Aluminium also shot up, touching a one-month peak on the London Metal Exchange, but some investors were preparing a renewed attack on the downside. The overall metals market got a boost from a rise in global shares after the U.S. trade deficit fell to its lowest in five months and the European Central Bank indicated it could prolong its stimulus program. The Shanghai Futures Exchange is closed for two days as China celebrates the anniversary of the end of World War Two. Trading will resume on Monday.

Courtesy :Sushil Finance

Key Words:  gold price