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Daily comex report of 12 october 2017 by epic research
1. 12-October-2017
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2. Metals Update
DAILY MARKET OUTLOOK
PRECIOUS METALS AND INDUSTRIAL METALS
COMMODITY UNITS PRICE CHANGE % CHANGE CONTRACT
COMEX GOLD USD/T OZ.
1290.86 -2.94 -0.23 Dec-17
COMEX SILVER USD/T OZ. 17.143 -0.060 -0.35 Dec- 17
COMEX COPPER USD/LB. 3.089 0.0289 0.96 Dec-17
PLATINUM USD/T OZ.
936.95 0.45 0.05 Jan-18
ENERGY COMMODITY FUTURES
COMMODITY UNITS PRICE CHANGE % CHANGE CONTRACT
CRUDE OIL(WTI) USD/BBL. 50.69 -0.23 -0.45 Nov-17
CRUDE OIL(BRENT) USD/BBL. 56.27 -0.34 -0.60 Dec-17
NY. NATURAL GAS USD/MMBTU 2.937 0.045 1.56 Nov-17
NY. HEATING OIL USD/GAL. 1.7608 -0.0041 -0.23 Nov-17
4. Metals Update
INTERNATIONAL COMMODITY NEWS
Gold prices held steady on Wednesday, as traders eyed the minutes of the Federal Reserve's most recent policy meeting
due later in the day for indications on future rates hikes. At its September meeting, the Fed had signaled the possibility of a
third rate hike t his year. Comex gold futures were little changed at $1,292.95 a troy ounce by 08:40 a.m. ET (12:40 GMT),
just off Tuesday's almost two-week high of $1,296.70. The precious metal had strengthened earlier in the week amid
heightened geopolitical tensions in North Korea and Spain. Spanish political tensions eased after Catalan President Carles
Puigdemont on Tuesday signed a document proclaiming the region's independence from Spain, but also suspended the
move for the coming weeks to allow for talks with the Spanish government, averting an immediate crisis. The Spanish
government was scheduled to convene in Madrid on Wednesday to shore up its response to the Catalan independence
movement.
OPEC forecast higher demand for its oil in 2018 on Wednesday and said its production-cutting deal with rival producers
was getting rid of a glut, pointing to a tighter market that could move into a deficit next year. In a monthly report, the
Organization of the Petroleum Exporting Countries said the market could find support in winter from low distillate fuel
stocks and forecasts of colder weather, which would boost distillates demand for heating. OPEC said the world would need
33.06 million barrels per day (bpd) of its crude next year, up 230,000 bpd from its previous forecast. That is its third
consecutive monthly increase in the projection from its first estimate made in July. The report illustrates growing confidence
among OPEC officials that its supply cut is working. Still, OPEC is not banking on a surge in prices, saying in the report crude
is expected to remain at $50 to $55 a barrel in the next year. Brent oil (LCOc1) traded higher near $57 on Wednesday.
U.S. President Donald Trump wanted to dramatically increase the country's nuclear arsenal, he said in a meeting with his
national security advisers in July, NBC News reported on Wednesday, citing three officials who were present in the room.
Trump's reported comments come as tensions remained high with North Korea and as Trump is expected to make an
announcement on whether to decertify the international deal surrounding Iran's nuclear program. The president spoke on
July after he was shown a chart indicating the stockpile of U.S. nuclear weapons had slid from a high of 32,000 in the 1960s.
Trump said he wanted to have that same number now, NBC reported.
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Metals Update
Lovelesh
Sharma
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Date: 2017-10-11 21:46+05:30