DAILY COMMODITY MARKET STRATEGY-13 Nov 2014

Gold prices moved lower on Wednesday in a quiet trading session void of major U.S. economic indicators, pressured downward by a firmer dollar.Gold and the dollar tend to trade inversely with one another.

silver for December delivery was down 0.22% at $15.643 a troy ounce, while Copper futures for December delivery were down 0.26% at $3.025 a pound.

Crude oil prices continue to take bearish bets from oil related reports. The US EIA published its STEO while OPEC too came out with the Monthly Oil market report where it said it cut output in the month of October by 226,400 BPD to 30.253 MBPD however this is still fairly higher than what the markets can absorb at this stage and thus we saw Brent falling at a higher rate than the WTI yesterday. 

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