Zinc gains as support seen after China's economy grew faster than expected in the fourth quarter of 2017- 19 Jan 2018

Gold Prices Gain In Asia On Weaker Dollar, Markets Eye US Budget Process. 

Gold prices gained in Asia on Friday as a weaker dollar brought physical demand into the market. Gold prices eased from four-month highs as US yields rose sharply after strong growth data from China and amid expectations that inflation would soon gather pace. Yields on United States 10-Year reached a ten-month high amid strong China economic growth data and rising expectations for faster inflation growth, which pressured gold prices to retreat from four-month highs. Gold is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion. Despite the bank’s warning, traders remain bullish on the yellow metal as data last week showed they increased their bullish bets on gold for the fourth-straight week.

Zinc gains as support seen after China's economy grew faster than expected in the fourth quarter of 2017.

Zinc on MCX settled up 0.14% at 217.70 as support seen after China's economy grew faster than expected in the fourth quarter of 2017. Rising supplies of zinc over the next couple of years are unlikely to replenish dwindling inventories to the extent that the market stops fretting about shortages and driving up prices towards the peaks seen in 2017. China's economy grew faster than expected in the fourth quarter of 2017, as an export recovery helped the country post its first annual acceleration in growth in seven years.

Nickel prices gained as support seen with better-than-expected China economic data.

Nickel on MCX settled up 0.67% at 795.50 as support seen with better-than-expected China economic data. China’s economy grew faster than expected in the fourth quarter, helped by a rebound in the industrial sector, a resilient property market and strong export growth. China’s housing market picked up slightly in December, but price growth more than halved in 2017 as government curbs on speculation took effect. Nickel saw a deficit from January to November 2017 with demand exceeding production by 63,600 mt. 

Oil prices fall over 1 percent on recovery in U.S. output. 

Oil prices dropped more than 1 percent on Friday as a bounce-back in U.S. production outweighed ongoing declines in crude inventories. If Friday's falls last, this week will see the biggest weekly price declines since October.Traders said the lower prices were prompted by a recovery in U.S. oil production after a recent drop, as well as by an expected fall in demand when winter ends in the northern hemisphere. U.S. crude oil production stood at 9.75 million barrels per day (bpd) on Jan. 12, data from the Energy Information Administration (EIA) showed. Output had fallen to 9.49 million barrels at the start of the year, due largely to a cold snap that shut down some production. Most analysts expect U.S. output to break through 10 million barrels per day soon.

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