Sunday, 20 October 2013

COMMODITY MARKET TREND - 21 OCTOBER 2013

BASE METAL WRAP: London copper futures edged up on Friday, supported by data showing China's economy grew as forecast in the third quarter, although concerns its upward momentum may be short-lived limited price gains.

ENERGY WRAP: West Texas Intermediate oil swung between gains and losses before data forecast to show crude stockpiles increased to a three-month high in the U.S., the world’s biggest consumer of the fuel. Natural gas futures rose in New York for the first time in three days as the outlook for unusually cold weather heading into November signaled increased demand for the heating fuel.

PRECIOUS METAL WRAP: Gold held near one-and-a-half-week highs above $1,300 an ounce on Monday, supported by expectations the Federal Reserve would hold off curbing its economic stimulus while the United States eyes a more lasting fix to its budget problems.

GLOBAL EVENTS TO WATCH: FOMC Member Evans Speaks, Existing Home Sales, Crude Oil Inventories.


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