Commodity Tips Expert: - commodity tips , mcx trading tips , bullion commodity tips

Precious Gold fell steadily at the end of the week to trade at 1178.50. Gold prices fell for a third consecutive week with the  precious metal off more than 2.17% to trade at 1177 ahead of the New York close on Friday. The decline marks the largest weekly loss in seven as equity markets probed fresh record highs alongside a pullback in the dollar. Bullion looks to close the week just above key near-term support with major US data on tap next week.  

Silver dipped 149 points on Friday alone to trade at 15.680.eading into next week, traders will be closely eyeing key US event risk with the release of 1Q Advanced Gross Domestic Product (GDP) & the FOMC policy decision on Wednesday.  Consensus estimates are calling for an annualized read of 1.0% for the first quarter, down from 2.2% in 4Q. The GDP  report may ultimately fall short of market expectations as seasonal factors are blamed for the recent batch of soft data  and a set of weak prints may press the Fed to carry its highly accommodative policy
stance through the second-half of 2015.

Chile is responsible for a third of the world’s mined output of copper with many of the largest mines located in the Atacama desert. Before the unusual weather this week, a drought was reducing production as a result of water restrictions  imposed by the authorities. In April 2014 a major earthquake also temporarily halted output at a number of large mines. copper has been consolidating since hitting near six-year lows in January. China's economy probably cooled further to grow 7% in the first three months of the year, a Reuters poll showed, which would be the weakest pace in six years and raise pressure on policymakers to do more to bolster growth.

Crude Oil dipped 46 points to trade at 57.29 after a midweek rally sent prices to just under the $60 range. Brent Oil converged gaining steadily at the end of the week to trade at 65.40 after trding as high as $66 this week.  U.S. output fell for a second-straight week, supporting prices. The Department of Energy reported this morning that in the week ending April 17, U.S. crude oil inventories increased by 5.3 million barrels, gasoline inventories decreased by 2.1 million barrels, distillate inventories increased by 0.4 million barrels and total petroleum inventories increased by 9.2 million barrels. Crude oil rallied after the release of the latest inventory figures. Traders brushed off the familiar increase in crude stockpiles and focused on the U.S. production data – and rightly so.
The EIA reported that U.S. output dipped 18,000 barrels per day week-over-week to 9.366 million barrels per day. That’s the second-straight weekly decline and 56,000 barrels per day lower than the multidecade high from March.

Natural Gas Natural Gas spent the week looking for a bottom, bouncing around as traders tried to book profits on each up movement only to see the commodity continue to decline. NG closed the week at 2.531. Natural gas inventories rose by 90 bcf last week, more than expectations. Natural gas was last trading down by more than 2% to $2.55/MMBtu after the Energy Information Administration reported that operators injected 90 billion cubic feet into storage last week, more than most analyst estimates, which ranged from 85 to 87 bcf. The latest injection was above last year’s build of 49 bcf and above the five-year average build of 49 bcf. The weather last week was warmer than seasonal norms.

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Commodity Tips Expert: - commodity tips , mcx trading tips , bullion commodity tips


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