Gold prices held mostly steady in Asia on Tuesday - 18 Oct 2016

Commodity Intraday Tips

PRECIOUS METALS

Gold prices held mostly steady in Asia on Tuesday with comments from Fed Vice Chair Stanley Fischer noted as saying the central bank is "very close" to job and price targets that should trigger a rate hike.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were little changed at $1,256.75.Elsewhere in metals trading, silver futures for December delivery were up 0.05% at $17.483 a troy ounce.

BASE METALS

LME copper is expected to fluctuate between USD 4,670-4,705/mt during Asian trading hours on Tuesday and SHFE 1612 copper will move at RMB 37,100-37,350/mt. The US dollar index fell overnight, but base metals remained weak, and should diverge at lows today.US September CPI before seasonally adjusted is expected to improve. Annualized US September PPI was better than expected, with the growth the biggest since December 2014. Core PPI was also in line with market expectations, meaning US inflation is on the rise. US five-year breakeven ratio also expects US consumer goods index will rise at a 1.54% pace, the highest since May.

ENERGIES

Crude oil prices held gains in Asia on Tuesday with industry data on U.S. inventories ahead expected to set the tone along with China data on growth, retail sales and industrial production due on Wednesday.The American Petroleum Institute will release its estimates of crude and refined product stockpiles in the U.S. at the end of last week late on Tuesday. The data will be followed on Wednesday with official figures from the U.S. Department of Energy.Overnight, U.S. oil rose on Monday, and managed to stay above the $50 a barrel threshold as investors continued to eye the details of a planned output cut by the Organization of the Petroleum Exporting Countries.

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