MCX INDIA COMMODITY NEWS. (3).pdf


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BULLION:

BASE METAL:
LME copper is predicted to move between USD
4,620-4,670/mt during Asian trading hours Friday.
Markets will focus on China’s profit result at
above-scale industrial enterprises for October on
Friday and decline in the profit is expected to
narrow further. Eyes should be also paid to
November’s climate index from euro zone and the
index should improve over October. This will
support the euro temporarily. But US dollar will
remain at highs, which nonetheless, will not
greatly influence the movement of base metals
prices.

Gold hovered close to its lowest level in nearly six years on Friday, on track for a
sixth straight weekly decline, weakened by the strength in the dollar and
expectations of a U.S. interest rate hike next month. Precious metals funds
posted their biggest net outflow last week in around four months, while
investors kept up the rapid pace of inflows into money market funds, Bank of
America Merrill Lynch said on Thursday. India's gold buying in the key
December quarter is likely to fall to the lowest level in eight years, hurt by poor
investment demand and back-to-back droughts that have slashed earnings for
the country's millions of farmers.

ENERGY:

Crude oil futures fell on Friday with losses this month standing at over 8 percent, hurt by disappointing Chinese economic data and
worries over a supply glut. Profits earned by Chinese industrial companies fell 4.6 percent in October from a year earlier, data from
the country's statistics bureau showed on Friday, declining for the fifth consecutive month. The market is shifting its focus to a
meeting of ministers from the Organization of the Petroleum Exporting Countries, which is set for Vienna on Dec. 4.

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