Commodity Mcx Market Reviews 14 March 2017

COMMODITY	S1	S2	S3	PIVOT	R1	R2	R3
GOLD	28137	28079	27984	28293	28365	28422	28518
SILVER	40249	40162	40017	40486	40586	40674	40819
CRUDE OIL	3184	3173	3153	3206	3221	3233	3252
NAT GAS	200.6	199.6	198	201.8	203.4	204.4	206.1
LEAD	148.8	148	146.5	150.3	151.2	152	153.5
NICKEL	668.6	663.2	654.2	671.9	682.2	687.6	696.6
ZINC	179.9	179	177.5	181.5	182.5	183.4	184.9
ALUMINIUM	123.1	122.5	121.5	124.6	124.7	125.3	126.3
COPPER	383.5	382.2	380.2	385.2	387.4	388.7	390.7

Bullion Gold costs were small moved on Monday as the possibility of fast approaching interest cost rises kept them close to the 5-week lows moved a week ago, while votes in Europe made vulnerability and fueled trader purchasing. Traders are focusing on Wednesday's Dutch decisions. The possibility of an eurosceptic party coming to power in the Netherlands is viewed as little however a solid vote performance could fuel speculation of an unexpected outcome in French presidential votes in April and May. Wednesday is likewise the 2th day of the U.S. Federal bank's 2-day meeting. The generally anticipated that choice would raise rates could support the U.S. currency, which when it growths makes dollar-valued commodities more costly for non-U.S. firms.

Hedge funds and money managers likewise cut their net long positions in COMEX gold from the most elevated in 3 months in the week to March 7, U.S. Commodity Futures Trading Commission information appeared on Friday.

Mcx Base metals are extending out increases with respect to the LME and improved Chinese monetary data prior today would help view . China's factory line yield increased 6.3 Percent in Jan-Feb from a similar period a year prior, while fixed-asset investment grew 8.9 Percent . China's retail deals likewise later 9.5 Percent while power output increased 6.3 Percent from a year prior to 931.5 billion kilowatt hours . Copper is discovering support as a hit at Peru's greatest copper mine, Cerro Verde extended into its 4^th day after a meeting between the union and management failed to determine a disagreement about labor demands.

Mcx Oil costs stay under weight with WTI as yet trading beneath the mentally crucial $50 mark as aches got liquidated further in light of improving US output.EIA forecasts demonstrate that US shale production in April is probably going to tick up by 109,000 barrels to 4.96 mbpd. US rig count expanded for an 8 successive week, improving by 8 a week ago. Mcx Crude oil inventories increased by 8.2 million barrels a week ago while stocks at the Cushing hub increased by 867,000 barrels according to EIA information. Entire oil inventory increment this year in the US is in abundance of 50 million barrels. Markets would anticipate the OPEC month to month report due today and the IEA report tomorrow for more details on the supply side.