Sunday 17 November 2013

COMMODITY MARKET TREND - 18 NOVEMBER 2013

BASE METAL WRAP: China's planned economic and social reforms should have the effect of extending the decade-long boom in demand for commodities, while at the same time making that demand more price sensitive.

ENERGY WRAP: West Texas Intermediate fell, extending the longest stretch of weekly losses since 1998, as Saudi Arabia exported the most oil in eight years. Futures dropped as much as 0.4 percent in New York after declining for a sixth week. Saudi Arabia exported more oil in September than in any month since November 2005.

PRECIOUS METAL WRAP: Investors got less bullish on gold as hedge funds doubled their short holdings just before prices erased a weekly loss and Janet Yellen pledged to press on with economic stimulus if confirmed as Federal Reserve chairman.

GLOBAL EVENTS TO WATCH: FOMC Member Rosengren Speaks, TIC Long-Term Purchases, NAHB Housing Market Index, FOMC Member Dudley Speaks.


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