Commodity Market News-12 Dec 2014

Bullion

• Gold prices ended marginally higher by 0.07 percent to $1227.6/oz amid conflicting signals as the firm dollar fueled hopes that interest rates will rise sooner or later while weak U.S. economic data spurred safe-haven buying.

• Silver prices rose by 0.2 percent to $17.1 in yesterday’s trading session in tandem with rise in gold prices. Strength in the dollar and weakness in Nickel prices however capped upside.

Energy

• Crude oil prices declined by 1.6 and 0.9 percent respectively continuing its recent run of losses. Persistent concerns over a supply glut and a bearish demand outlook is leading to decline in oil prices.

• Natural gas futures ended down 1.43 percent on the latest weather forecasts calling for continued warmer-than-normal temperatures over the next two weeks. That decline came despite a government report early Thursday of a bigger-than-expected storage draw. The EIA said utilities withdrew 51 billion cubic feet of gas from storage last week.

• Base metals on the LME traded on a mixed note on Thursday as weak economic data from the Euro Zone along with mixed trend in LME stocks dragged prices lower.

• Copper prices rose by 0.6 percent yesterday owing to strongeconomic data from the US. Also, weakness in the DX supported gains.

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