Sunday, 18 May 2014

COMMODITY MARKET TREND-19 May 2014

BASE METAL WRAP:  
London copper edged up after signs of a pick-up in the U.S. housing industry and as China pledged to quicken the pace of financial reform, lending support to demand growth for commodities.

ENERGY WRAP
Brent extended its first weekly gain this month amid speculation escalating violence in Libya will further disrupt supplies from the holder of Africa’s biggest oil reserves. West Texas Intermediate was steady in New York. Faster-than-expected gains in U.S. natural-gas inventories are easing concern that a shortage is looming next winter, spurring speculators to cut bullish bets.

PRECIOUS METAL WRAP: 
Gold held below $1,300 an ounce as investors assessed the health of the U.S. economy and the impact on monetary stimulus against tension in Ukraine and Hedge funds cut bullish bets on gold futures by the most in a month as holdings of physical bullion in exchange-traded funds dropped to the lowest since 2009.

GLOBAL EVENTS TO WATCH
German Buba President Weidmann Speaks.


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