Gold edged up in Asia on Monday with a busy week of central bank - 26 Sep 2016

Commodity Intraday Tips


Gold edged up in Asia on Monday with a busy week of central bank remarks ahead and what is expected to be a record audience for the first debate between the top two contenders for the U.S. presidency. Gold for December delivery on the Comex division of the New York Mercantile Exchange rose 0.04% to $1,342.25 a troy ounce.A pair of speeches from European Central Bank President Mario Draghi will be in focus for fresh hints on whether the ECB will step up monetary stimulus in the coming months to boost inflation and prop up the economy.


LME copper will fluctuate at USD 4,840-4,875/mt on Monday and SHFE 1611 copper will range between RMB 37,650-37,950/mt. A series of major economic indicators will be released from Europe and US this week. Volatility in oil prices will add to uncertainty over base metals. Caixin’s September manufacturing PMI for China is not pessimistic, despite a 0.6% decline in August compared to July. Domestic industrial power consumption improved in August, and value added at industrials picked up to 6.3% YoY. The Fed left interest rate unchanged at its September policy meeting, with market expectations toward a Fed rate hike in December growing. Fed Chairwoman Janet Yellen’s statement will affect the US dollar movement.


Crude prices rebounded on Monday after Algeria's energy minister said the day before that all options were possible for an oil output cut or freeze at this week's informal meeting of OPEC producers.That came after prices tumbled 4 percent on Friday amid signs Saudi Arabia and Iran were making little progress in achieving preliminary agreement to freeze production.Members of the Organization of the Petroleum Exporting Countries will meet on the sidelines of the International Energy Forum in Algeria from Sept. 26-28, where they will discuss a possible output-limiting deal.

Get Free Silver Tips With Profitable Calls By Our Expert Researcher, Amazing MCX Bullion Tips, Profitable Commodity Trading Tips, Sureshot Profit Crude Oil Tips...
Visit- CapitalStars
For More Detail You Can Call On:- 0731-6669900, 6790000

No comments:

Post a Comment