Wednesday 30 October 2013

COMMODITY MARKET TREND - 31 OCTOBER 2013

BASE METAL WRAP: Copper rose to its highest level in a week, boosted by expectations the U.S. Federal Reserve will prolong its stimulus programme to aid recovery in the world's largest economy.

ENERGY WRAP: West Texas Intermediate traded near the lowest price in four months as crude stockpiles advanced for a sixth week in the U.S., the world’s biggest oil consumer.

PRECIOUS METAL WRAP: Gold retreated for a third day, trimming a monthly advance, on speculation that the U.S. Federal Reserve will begin scaling back monetary stimulus as the economy improves. Silver, platinum and palladium fell.

GLOBAL EVENTS TO WATCH: Monetary Policy Statement, BOJ Press Conference, Challenger Job Cuts y/y, GDP m/m, Unemployment Claims, Treasury Sec Lew Speaks, Chicago PMI, Natural Gas Storage.


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