26th Nov Support and Resistance

Gold
Pp 26474
R 26546,26612
S 26408,26336

Silver
Pp 36203
R 36407,36569
S 36041,35837

Crude
Pp 4752
R 4786,4821
S 4717,4683

Ng
Pp 267.6
R 274.4,281.8
S 260.2,253.5

Copper
Pp 411.7
R 413.7,417.3
S 408.2,406.1

Nickel
Pp 1023
R 1032,1042
S 1013,1004

Lead
Pp 127
R 127.8,128.5
S 126.2,125.5

Zinc
Pp 141.5
R 142.3,143.3
S 140.5,139.8

Aluminium
Pp 127.5
R 128.5,129.1
S 126.9,126.1

Copper Outlook 24th to 28th Nov

Metals trading, copper for December delivery inched up 1.2 cents, or 0.4%, on Friday to settle at $3.031 a pound by a close of trade.Prices rallied to a session high of $3.077 earlier in the day, before paring gains towards the end of the session, as traders weighed whether a surprise rate cut in China would translate into an increase in demand for the industrial metal.The Asian nation is the world’s largest copper consumer, accounting for almost 40% of world consumption last year.Despite Friday's gains, Comex copper prices shed 1.5 cents, or 0.49%, on the week, amid ongoing concerns over the health of the global economy.Copper is sensitive to the economic growth outlook because of its widespread uses across industries.According to the CFTC, net copper shorts totaled 1,304 contracts as of last week, compared to net shorts of 1,664 contracts in the preceding week.

Silver Outlook 24th to 28th Nov

Silver December delivery climbed 25.8 cents, or 1.6%, on Friday to settle the week at $16.39 a troy ounce by close of trade. Prices hit a daily peak of $16.60 an ounce earlier Friday, the highest level since October 30.The December silver futures contract tacked on 8.0 cents, or 0.48%, on the week, the second straight weekly advance.According to the CFTC, net silver longs totaled 745 contracts as of last week, compared to net shorts of 1,983 contracts in the preceding week.

Gold Outlook 24th to 28th Nov

Gold prices rallied to a three-week high on Friday, after China’s central bank unexpectedly cut interest rates for the first time in more than two years.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery rose to a session high of $1,207.60 a troy ounce, the most since October 30, before settling at $1,197.70 by close of trade, up $6.80, or 0.57%.On the week, gold prices rose $12.10, or 1.01%, the second consecutive weekly gain.Futures were likely to find support at $1,173.90, the low from November 19, and resistance at $1,216.50, the high from October 30.Gold prices rose on news that the People's Bank of China cut its benchmark one-year deposit rate by 25 basis points to 2.75% and trimmed its one-year lending rate by 40 basis points to 5.6%.The move came in response to recent signs of a slowdown in the world’s second-largest economy.Gold can benefit from such an environment of easy money because of expectations that ample liquidity would put a damper on the value of paper currencies.Meanwhile, European Central Bank President Mario Draghi reiterated on Friday that the central bank is ready to expand its stimulus program to raise inflation and inflation expectations as quickly as possible.Draghi also warned about weak growth in the euro zone, saying that no improvements are expected in the coming months.The ECB's current stimulus program includes purchases of asset-backed securities and covered bonds, though markets are keeping a close eye out for plans to announce purchases of government debt, a stimulus tool known as quantitative easing.Expectations of monetary stimulus tend to benefit gold, as the metal is seen as a safe store of value and inflation hedge.Despite Friday's upbeat performance, gold prices are likely to remain vulnerable in the near-term amid indications a strengthening U.S. economic recovery will force the Federal Reserve to start raising interest rates sooner and faster than previously thought.In the week ahead, the U.S. is to release a string of economic reports on Wednesday due to Thursday’s Thanksgiving holiday, including a look at unemployment claims and durable goods orders.Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers significantly increased their bullish bets in gold futures in the week ending November 18.Net longs totaled 60,307 contracts, up 35.7% from net longs of 38,763 in the preceding week.

Crude oil Outlook 24th to 28th Nov

Oil futures ended Friday's session higher, as investors bet that fresh stimulus efforts in China and the euro zone will lead to increased global demand. On the ICE Futures Exchange in London,Brent for January delivery jumped $1.19, or 1.3%, on Friday to settle at $80.36 a barrel by close of trade.London-traded Brent futures hit a session high of $81.61 a barrel earlier in the day, the most since November 12.On the week, the January Brent contract rose 95 cents, or 1.18%, the first weekly gain in nine weeks.Elsewhere, on the New York Mercantile Exchange, crude oil for delivery in January tacked on 66 cents, or 0.87%, on Friday to end the week at $76.51 a barrel.Nymex oil touched $77.83 a barrel earlier in the session, the highest level since November 12.New York-traded oil futures picked up 69 cents, or 0.9%, on the week, halting a seven-week losing streak.The spread between the Brent and the WTI crude contracts stood at $3.85 a barrel by close of trade on Friday, compared to $3.59 in the preceding week.Oil prices rose on news that the People's Bank of China cut its benchmark one-year deposit rate by 25 basis points to 2.75% and trimmed its one-year lending rate by 40 basis points to 5.6%.The move came in response to recent signs of a slowdown in the world’s second-largest economy.China is the world's second largest oil consumer after the U.S. and has been the engine of strengthening demand.Meanwhile, European Central Bank President Mario Draghi reiterated on Friday that the central bank is ready to expand its stimulus program to raise inflation and boost growth as quickly as possible.The ECB's current stimulus program includes purchases of asset-backed securities and covered bonds, though markets are keeping a close eye out for plans to announce purchases of government debt, a stimulus tool known as quantitative easing.Market players continued to weigh the likelihood that the Organization of the Petroleum Exporting Countries will cut output to support prices when it meets in Vienna on November 27.Oil ministers from Venezuela and Ecuador have asked for action to prevent further price declines, while Saudi Arabia and Kuwait have resisted calls to lower production.Concerns over weakening global demand combined with indications that OPEC producers will not cut output have weighed on prices in recent months.London-traded Brent prices have fallen nearly 30% since June, when it climbed near $116, while WTI futures are down almost 29% from a recent peak of $107.50 in June.In the week ahead, the U.S. is to release a string of economic reports on Wednesday due to Thursday’s Thanksgiving holiday, including a look at unemployment claims and durable goods orders.A report from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers decreased their bullish bets in New York-traded oil futures in the week ending November 18.Net longs totaled 175,051 contracts as of last week, down 4.1% from net longs of 182,490 in the preceding week.

Natural Gas Outlook 24th to 28th Nov

U.S. natural gas futures rose to a near five-month high on Friday, before turning lower to end the session down 5% as weather forecasting models pointed to less frigid temperatures across the U.S. later this month.

On the New York Mercantile Exchange, natural gas for delivery in December tumbled 22.3 cents, or 4.97%, on Friday to settle at $4.266 per million British thermal units by close of trade.

Nymex gas prices touched a session high of $4.532 per million British thermal units earlier in the day, just below a five-month peak of $4.544 hit on November 10.

Futures were likely to find support at $4.194 per million British thermal units, the low from November 19, and resistance at $4.544, the high from November 10.

Natural gas came under pressure as milder temperatures were expected to spread across most parts of the U.S., after a blast of cold air swept through much of the country earlier in the week, prompting investors to bet that utilities and homes will burn less natural gas as demand for heating falls.

Despite Friday's downbeat performance, Nymex natural gas prices soared 24.6 cents, or 5.76%, on the week, as blistering cold air blasted across most of the U.S. in the early part of the week.

The frigid weather outlook sent natural gas prices soaring on expectations for households and business to crank up their heating and send thermal power plants to burn more of the commodity to meet demand.

Meanwhile, the U.S. Energy Information Administration said in its weekly report released Thursday that natural gas storage in the U.S. fell by 17 billion cubic feet last week, compared to expectations for a decline of 12 billion.

Inventories fell by 36 billion cubic feet in the same week a year earlier, while the five-year average change for the week is a decline of 10 billion cubic feet.

It was the first storage draw of the heating season. The heating season from November through March is the peak demand period for U.S. gas consumption.

Total U.S. natural gas storage stood at 3.594 trillion cubic feet as of last week, narrowing the deficit to the five-year average to 6.4% from a record 54.7% at the end of March.

Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers increased their bullish on natural gas futures in the week ending November 18.

Net longs totaled 16,909 contracts as of last week, compared to net longs of 8,739 in the previous week.

Elsewhere on the Nymex, crude oil for January delivery settled at $76.51 a barrel by close of trade on Friday, up 69 cents, or 0.9%, on the week.

Meanwhile, heating oil for December delivery slumped 0.45% on the week to settle at $2.405 per gallon by close of trade Friday.

24th Nov New Support and Resistance

Path for the day

Gold
Pp 26499
R 26632,26750
S 26381,26248

Silver
Pp 35880
R 36128,36398
S 35610,35362

Crude
Pp 4668
R 4709,4744
S 4633,4592

Ng
Pp 270.8
R 277.5,285.6
S 262.7,256.1

Copper
Pp 413.9
R 417.2,419.8
S 411.2,407.9

Nickel
Pp 1005
R 1015,1026
S 994,984

Lead
Pp 125.8
R 126.6,127.2
S 125.4,124.7

Zinc
Pp 139.3
R 139.9,140.4
S 138.8,138.3

Aluminium
Pp 126
R 127,127.6
S 125.4,124.6

11th Nov Path

Gold
Pp 25621
R 26078,26420
S 25279,24822
Silver
Pp 34382
R 35273,26033
S 33622,32731
Crude
Pp 4827
R 4881,4938
S 4770,4716
Ng
Pp 270
R 275.6,282
S 263.6,258

7th Nov path

Path
Gold
Pp 25928
R 25928,26145
S 25415,25119

Silver
Pp 34649
R 35568,36146
S 34071,33153

Crude
Pp 4790
R 4875,4976
S 4689,4604

Ng
Pp 259
R 262.6,269.3
S 252.3,248.7

Copper
Pp 408
R 412.6,415.3
S 405.2,400.5

Nickel
Pp 934.9
R 953.1,963.4
S 924.6,906.5

Lead
Pp 122.2
R 124.1,125.1
S 121.1,119.3

Zinc
Pp 137.2
R 139,140.1
S 136.1,134.5

Aluminium
Pp 126.5
R 128.2,129.5
S 125.2,123.5

5th Nov path

New path for the day
Kindly have note. Don't trade with it
Gold
Buy at 26130,tgt 26129,162,183,203,sl 26095
Sell gold at 25967,tgt 25935,914,895,sl 26001

Silver
Buy at 35669,tgt 708,732,756,sl 35630
Sell at 35480,tgt 35441,418,394,sl 35520

Crude
Buy at 4856,tgt 70,79,88,sl 4841
Sell at 4786,tgt 71,63,54,sl 4800

Ng
Buy at 260,tgt 263,265,267,sl 256
Sell at 244,tgt 241,239,227,sl 247

Oct month candle chart for all commodities

3rd Nov Support and Resistance

Path
Gold
Pp 26786
R 27010,27214
S 26582,26358

Silver
Pp 37284
R 38259,39104
S 36439,35464

Crude
Pp 5039
R 5098,5139
S 4998,4939

Ng
Pp 235.8
R 238.6,240.5
S 233.9,231.1

Copper
Pp 417.95
R 422.4,425.1
S 415.2,410.7

Nickel
Pp 963.6
R 980.8,991.5
S 952.9,935.7

Lead
Pp 124.4
R 125.3,126.3
S 123.4,122.5

Zinc
Pp 140.8
R 141.8,142.5
S 140.1,139.2

Aluminium
Pp 125.3
R 126.6,127.4
S 124.5,123.3

Natural Gas Weekly Outlook 27th to 31st Oct

U.S. natural gas futures slumped to an 11-month low on Friday, as investors bet that mild weather will dampen early-winter demand for the heating fuel.

On the New York Mercantile Exchange, natural gas for delivery in November sank to a daily low of $3.559 per million British thermal units on Friday, a level not seen since November 20, 2013.

Prices came off the lows to settle at $3.623 by close of trade, down 0.1 cents, or 0.03%.

On the week, Nymex natural gas prices lost 14.3 cents, or 3.79%, the third straight weekly decline.

Futures were likely to find support at $3.559 per million British thermal units, the low from October 24, and resistance at $3.718, the high from October 22.

Updated weather-forecasting models released Friday called for mild temperatures across much of the U.S. into early November.

Bearish speculators are betting on the mild weather reducing early-winter demand for the heating fuel. The heating season from November through March is the peak demand period for U.S. gas consumption.

Meanwhile, investors continued to digest Thursday's weekly inventory data, which showed that natural gas storage in the U.S. rose by 94 billion cubic feet last week.

The five-year average change for the week is an increase of 70 billion cubic feet.

Injections of gas into storage have surpassed the five-year average for 27 consecutive weeks, alleviating concerns over tightening supplies.

Total U.S. natural gas storage stood at 3.393 trillion cubic feet as of last week, narrowing the deficit to the five-year average to 9.1% from a record 54.7% at the end of March.

Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers turned bearish on natural gas futures in the week ending October 21.

Net shorts totaled 13,646 contracts as of last week, compared to net longs of 2,653 in the previous week.

Elsewhere on the Nymex, crude oil for December delivery settled at $81.01 a barrel by close of trade on Friday, down $1.38, or 1.67%, on the week.

Meanwhile, heating oil for November delivery slumped 0.68% on the week to settle at $2.481 per gallon by close of trade Friday.

Crude Oil Weekly Outlook 27th to 31st Oct

Oil futures ended Friday's session lower, amid speculation rising global supplies will be more than enough to meet slowing demand.

On the New York Mercantile Exchange, crude oil for delivery in December slumped $1.08, or 1.32%, on Friday to end the week at $81.01 a barrel.

For the week, New York-traded oil futures lost $1.38, or 1.67%, the fourth consecutive weekly decline.

Elsewhere, on the ICE Futures Exchange in London, Brent for December delivery fell 70 cents, or 0.81%, on Friday to settle at $86.13 a barrel by close of trade.

For the week, the November Brent contract dropped 3 cents, or 0.03%, the fifth straight weekly loss.

Meanwhile the spread between the Brent and the WTI crude contracts stood at $5.12 a barrel by close of trade on Friday, compared to $3.41 in the preceding week.

London-traded Brent prices have fallen nearly 26% since June, when it climbed near $116, while WTI futures are down almost 25% from a recent peak of $107.50 in June.

Concerns over weakening global demand combined with indications that the Organization of the Petroleum Exporting Countries will not cut output to support oil markets have weighed on prices in recent weeks.

OPEC oil output hit a two-year high of 31 million barrels per day in September, led by higher production from Iraq and Libya.

Some market analysts believe that only a cut in production by the oil cartel will halt the decline in prices.

Oil ministers from the 12-member group are scheduled to meet in Vienna on November 27 to consider whether to adjust their production target for early 2015.

In the week ahead investors will be looking ahead to the outcome of Wednesday’s Federal Reserve meeting amid expectations that it will wind up asset purchases under its third round of quantitative easing.

Investors will be scrutinizing the Fed statement for further indications on how soon interest rates could start to rise.

Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers increased their bullish bets in New York-traded oil futures in the week ending October 21.

Net longs totaled 186,774 contracts as of last week, up 5.4% from net longs of 176,671 in the preceding week

Gold-Silver-Copper Weekly Outlook 27th to 31th Oct

Gold futures inched up modestly on Friday, but still posted a weekly loss as ongoing expectations for a sooner than expected rate hike in the U.S. and a broadly stronger dollar and weighed.

On the Comex division of the New York Mercantile Exchange, gold for December delivery tacked on $2.70, or 0.22%, to settle at $1,231.80 a troy ounce by close of trade.

Despite Friday's upbeat performance, Comex gold prices lost $7.20, or 0.58%, on the week, the first weekly decline in three weeks.

Futures were likely to find support at $1,222.00, the low from October 15, and resistance at $1,255.60, the high from October 21.

A recent batch of stronger than expected U.S. economic data indicated that the economic recovery maintained momentum and underlined speculation that the Federal Reserve could hike interest rates sooner than expected.

Rate hikes tend to dampen gold prices as it increases the relative cost of holding on to the metal.

The U.S. dollar was boosted amid mounting expectations the Fed will remove accommodation sooner than previously thought.

The US Dollar Index, which tracks the performance of the greenback against a basket of six major currencies, ended the week up 0.55% at 85.79.

A stronger U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies.

In the week ahead investors will be looking ahead to the outcome of Wednesday’s Federal Reserve meeting amid expectations that it will wind up asset purchases under its third round of quantitative easing.

Investors will be scrutinizing the Fed statement for further indications on how soon interest rates could start to rise.

Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers increased their bullish bets in gold futures in the week ending October 21.

Net longs totaled 75,273 contracts, up 30.9% from net longs of 51,994 in the preceding week.

Also on the Comex, silver for December delivery picked up 2.4 cents, or 0.14%, on Friday to settle the week at $17.33 a troy ounce by close of trade.

On the week, the December silver futures contract lost 15.0 cents, or 0.86%, following two consecutive weekly rises.

Data from the CFTC showed that net silver shorts totaled 8,637 contracts as of last week, compared to net shorts of 9,089 contracts in the preceding week.

Elsewhere in metals trading, copper for December delivery rose 0.1 cents, or 0.03%, at $3.041 a pound by a close of trade. Futures hit a session high of $3.059 earlier, the most since October 15.

Comex copper prices advanced 3.8 cents, or 1.24%, on the week as hopes for additional monetary stimulus in the euro zone and China boosted the outlook for future demand prospects.

Copper is sensitive to the economic growth outlook because of its widespread uses across industries.

According to the CFTC, net copper shorts totaled 11,942 contracts as of last week, compared to net shorts of 11,375 contracts in the preceding week.

Support and Resistance for 27th to 31st Oct

Path:
Gold- Strong Sell
Pivot point 27256
Resistance 27422,27571
Support 27107,26941

Silver- Strong Sell
Pivot point 38109
Resistance 38237,38328
Support 38018,37890

Crude oil- Strong Sell
Pivot point 5006
Resistance 5046,5078
Support 4974,4934

Natural Gas- Strong Sell
Pivot point 223.6
Resistance 226.2,228.1
Support 221.7,219.2

Copper- Neutral trend
Pivot point 412.3
Resistance 413.2,414.3
Support 411.2,410.3

Nickel- Strong Sell
Resistance 934.9,938.9
Support 924,917.1

Lead-Strong Sell
Pivot point 123.35
Resistance 124.2,124.7
Support 122.8,122

Zinc- Strong Buy
Pivot point 137.8
Resistance 138.7,139.4
Support 137,136.3

Aluminium- Neutral trend
Pivot point 112.15
Resistance 122.65,123
Support 121.7,121.3

Support and resistance for 21th Oct

Gold 27303
Resistance 27440,27625
Support 27118,26981

Silver 38598
Resistance 38834,39118
Support 38314,38074

Crude 5107
Resistance 5164,5245
Support 5026,4969

Ng 232.3
Resistance 236.4,239.6
Support 229.1,225.1

Copper 408
Resistance 411.5,414.6
Support 404.9,401.4

Nickel 960.9
Resistance 969.7,982.7
Support 947.9,939.1

Lead 123.2
Resistance 124.8,126.1
Support 121.9,120.4

Zinc 137.3
Resistance 138.8,139.7
Support 136.4,134.9

Aluminium 118.9
Resistance 120.9,123
Support 116.8,114.8

Support and resistance for 20th to 25th Oct

Gold 27399
Resistance 27529,27739
Support 27189,27059

Gold Mini 27275
Resistance 27401,27600
Support 27076,26950

Silver 38893
Resistance 39177,39463
Support 38607,38323

Silver Mini 38892
Resistance 39135,39482
Support 38545,38302

Crude 5095
Resistance 5246,5377
Support 4964,4813

Natural 235.05
Resistance 237.7,240.9
Support 231.8,229.1

Aluminium 117.4
Resistance 118.6,119.1
Support 116.9,115.7

Copper 414.1
Resistance 421.5,427.8
Support 407.8,400.5

Nickel 978.6
Resistance 1007.8,1032.1
Support 954.3,925.1

Lead 123.6
Resistance 125.9,127.7
Support 121.8,119.4

Zinc 140.2
Resistance 144.6,148.1
Support 136.8,132.4

Support and Resistance Its different Formula

Gold
Pivot point 26924
Resistance 27003,27127
Support 26800,26721

Silver
Pivot point 38603
Resistance 38857,39352
Support 38108,37854

Crude Oil
Pivot point 5312
Resistance 5384,5446
Support 5250,5178

Natural gas
Pivot point 236.9
Resistance 240.1,244.6
Support 232.4,229.2

Aluminium
Pivot point 118.05
Resistance 118.7,119.4
Support 117.3,116.6

Copper
Pivot point 413.1
Resistance 414.7,417.1
Support 410.7,409.1

Lead
Pivot point 127.55
Resistance 128.3,129.1
Support 126.7,125.9

Zinc
Pivot point 142.4
Resistance 143.1,143.8
Support 141.7,141.1

Nickel
Pivot point 1017.05
Resistance 1021.9,1032.7
Support 1006.2,1001.4

Nickel chart

Gold chart

Silver chart

Natural gas chart

Copper chart

Lead chart

Crude chart

Zinc chart

Aluminium chart

Energy - Analysis

U.S. markets go down three percent in a week, the overwhelming sentiment has to be considered, at the very least, downcast. At worst, you might even call the prevailing approach 'Sell everything that you own.' Now, keep in mind, over the last 20 years, we have seen this movie before, actually, more than once. In 1999-2000, the market fell nearly 80% in some cases (the NASDAQ). In 2008, the market lost 45% and 60% from peak to trough in March of 2009. Yet, here we are again, with indexes at nearly record highs (about 5% from the top) and the fear still remains palpable.If we were to compare the current environment with 2008, there is not much which is similar. Back then, major investment banks, insurance companies, and commercial banks or thrifts, went bankrupt (Lehman, AIG, Washington Mutual, Wachovia). Today, the financial services sector have Tier 1 and 2 ratios with higher capital levels than ever before, which means their balance sheets are flush and have the capital to withstand lots of non performing assets. On yonder past, the housing sector was the major cause for overpriced assets being purchased by people who never should have received loans from institutions which never should have written them. Today, homeowners are put through the ringer with credit standards which make borrowing so difficult our ex-Federal Reserve chairman Ben Bernanke cannot get a loan for his humble abode. In 2008, the regulatory environment was, shall we say, a bit lax. Today, conversely, the best description for the fine, upstanding individuals who police financial and capital markets, would aptly be, 'Enthusiastic (overzealous).' Major corporations are in fabulous financial shape, incredibly profitable, and have businesses operating all over the globe in plenty of massive countries where they can grow organically for a long time. The biggest fear which exists is the belief that China, Europe, and emerging market countries are facing deflation. Commodities, especially oil, have sold off hard and it has contributed to the idea that we are now headed back into a global recession. Also helping fuel the fire is the prospect for end of the year redemption's by those entities whose clients are not, to be kins, willing to put up with sub standard performance. If we add in a warning from a company in the red hot semiconductor area, well, the week was not good if you are long.So, in what seems a never ending dilemma of moving from one problem area to another, with two and one half months left in the year, investors are staring in the face of a market which is clearly nervous. Earnings season approaches rapidly, but all eyes have to be on the energy sector. You see, with oil priced at $85 or $90 a barrel (WTI and Brent respectively), all of inland drilling in places like the Bakken, Permian Basin, or Eagle Ford shale complexes may get scaled back as the price to cover production costs just ain't high enough. It seems that, the best answer for low prices is, low prices.We should also point out what is happening in the capital raising world as it has larger repercussions for the corporate world. Three major activists, Bill Ackman (Pershing Square), Dan Loeb (Third Point), and Barry Rosenstien (Jana Partners), have all raised over a billion dollars for future use. You have to wonder what they might use the funds for, eh (hint, hint, maybe it could be to force change at companies which have attractive assets but sagging stock prices)?Last, but certainly not least, the midterm elections rapidly approach. The only area to pay attention to is in the Senate where Republicans have to hold what they currently have and also add six more seats in their column. Currently, it looks pretty positive as the states in question: Iowa, Louisiana, Arkansas, New Hampshire, Kentucky, South Dakota, and Alaska all favor the anti-Obama candidate by anywhere from 3-5 percent, with some variability in the margins. It would be nice to see Harry Reid be relegated to the minority party, although you could make a strong argument it would be better for the minority party than Republicans. You see, even some Democrats recognize obstruction has not benefited their grand party so well, contrary to those who actually run our lovely government.

Natural Gas 13-17th Oct Outlook

U.S. natural gas futures ended Friday's session close to a one-month low, as market players monitored near-term weather forecasts to gauge the strength of demand for the fuel. On the New York Mercantile Exchange, natural gas for delivery in November tacked on 1.4 cents, or 0.36%, to settle at $3.859 per million British thermal units by close of trade on Friday. A day earlier, natural gas prices hit $3.815, a level not seen since September 12, before closing at $3.845, down 1.0 cent, or 0.26%. Futures were likely to find support at $3.786 per million British thermal units, the low from September 12, and resistance at $3.947, the high from October 8. On the week, Nymex natural gas prices lost 18.0 cents, or 4.45%, the first weekly decline in three weeks. Updated weather-forecasting models continued to call for pockets of cool air to trek across the U.S. in the coming days, though temperatures still won't fall too hard to seriously drive demand for heating while staying mild enough to curb the need for air conditioning. Cooler air systems will see reinforcements, though the intensity of these blasts of falling mercury reading remains up in the air. The heating season from November through March is the peak demand period for U.S. gas consumption. Meanwhile, investors continued to digest Thursday's weekly inventory data, which showed that natural gas storage in the U.S. rose by 105 billion cubic feet last week. Inventories rose by 91 billion cubic feet in the same week a year earlier, while the five-year average change is a build of 84 billion cubic feet. Injections of gas into storage have surpassed the five-year average for 25 consecutive weeks, alleviating concerns over tightening supplies. Total U.S. natural gas storage stood at 3.205 trillion cubic feet as of last week, narrowing the deficit to the five-year average to 11% from a record 54.7% at the end of March. Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers decreased their bullish bets in natural gas futures in the week ending October 7. Net longs totaled 6,288 contracts, down sharply from net longs of 26,166 in the previous week. Elsewhere on the Nymex, crude oil for November delivery settled at $85.82 a barrel by close of trade on Friday, down $3.92, or 4.36%, on the week. Meanwhile, heating oil for November delivery slumped 2.14% on the week to settle at $2.560 per gallon by close of trade Friday.

Crude Oil 13-17th Oct outlook

Crude oil futures fell to multi-year lows on Friday, before reversing losses to end the session modestly higher as investors returned to the market to seek cheap valuations. On the New York Mercantile Exchange, crude oil for delivery in November hit a daily low of $83.59 a barrel, a level not seen since July 2012. Nymex prices recovered to end the day at $85.82, up 5 cents, or 0.06%. For the week, New York-traded oil futures lost $3.92, or 4.36%, the fourth weekly decline over the past five weeks. Elsewhere, on the ICE Futures Exchange in London, Brent oil for November delivery fell to a session low of $88.11 a barrel on Friday, the weakest level since December 2010. London-traded Brent prices rallied off the lows to settle the day at $90.21, up 16 cents, or 0.18%. For the week, the November Brent contract dropped $2.10, or 2.27%, the third straight weekly loss. Meanwhile the spread between the Brent and the WTI crude contracts stood at $4.39 a barrel by close of trade on Friday, compared to $2.57 in the preceding week. Crude oil futures sold off sharply as concerns over the global economic outlook and ample supplies drove prices lower. The International Monetary Fund cut its global economic growth forecasts for the third time this year on Tuesday and warned that the recovery remains weak and uneven. The organization is now forecasting global economic growth of 3.3% this year, down from 3.4% in July and expects growth of 3.8% in 2015, compared to an earlier prediction of 4.0%. Investor sentiment was also hit by fears that Germany, the euro zone’s largest economy is being dragged into a recession after recent data indicated unexpected weakness in manufacturing and exports. Global supplies have far outpaced demand in recent months, sparking speculation among traders about whether the Organization of the Petroleum Exporting Countries would lower production to keep prices high. A report last week showed OPEC oil output hit a two-year high of 31 million barrels per day in September. Some market analysts believe that only a cut in output by the oil cartel will halt the decline in prices. In the week ahead, investors will be awaiting U.S. data on retail sales and industrial production for fresh indications on the strength of the economic recovery. Tuesday’s ZEW report on German economic sentiment will also be closely watched. Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers decreased their bullish bets in New York-traded oil futures in the week ending October 7. Net longs totaled 192,208 contracts as of last week, down 4.8% from net longs of 201,863 in the preceding week.

Gold - Silver - Copper 13 to 17th Oct Outlook

Gold futures ended Friday's session modestly lower, although prices held above the key $1,200-level amid ongoing speculation over the timing of a rate hike in the U.S. On the Comex division of the New York Mercantile Exchange, gold for December delivery lost $3.60, or 0.29%, to settle at $1,221.70 a troy ounce by close of trade. A day earlier, gold rallied to $1,234.00, the most since September 23, before ending at $1,225.30, up $19.30, or 1.6%. For the week, Comex gold prices rose $28.80, or 2.35%, the first weekly gain in six weeks. Futures were likely to find support at $1,183.30, the low from October 6, and resistance at $1,237.00, the high from September 23. Gold prices strengthened after the minutes of the Federal Reserve’s September meeting released Wednesday showed that some officials were concerned over the impact of the stronger dollar on global growth and the outlook for U.S. inflation. "Some participants expressed concern that the persistent shortfall of economic growth and inflation in the euro area could lead to a further appreciation of the dollar and have adverse effects on the U.S. external sector," the minutes said. The US Dollar Index, which tracks the performance of the greenback against a basket of six major currencies, ended the week down 1% at 85.92. The move ended a 12-week rally that saw the index gain more than 8% since early July. Dollar weakness usually benefits gold, as it boosts the metal's appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies. In the week ahead, investors will be awaiting U.S. data on retail sales and industrial production for fresh signals on the strength of the economic recovery. Recent indications that the recovery is gaining momentum have fuelled expectations that the Fed will begin to raise rates sooner and faster than previously thought. Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise. Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers decreased their bullish bets in gold futures in the week ending October 7. Net longs totaled 37,275 contracts, down 1.2% from net longs of 37,743 in the preceding week. Also on the Comex, silver for December delivery shed 11.5 cents, or 0.66%, on Friday to settle the week at $17.30 a troy ounce by close of trade. On the week, the December silver futures contract advanced 48.0 cents, or 2.77%, the first weekly gain in six weeks. Data from the CFTC showed that net silver shorts totaled 7,071 contracts as of last week, compared to net shorts of 6,073 contracts in the preceding week. Elsewhere in metals trading, copper for December delivery tacked on 0.5 cents, or 0.17%, on Friday to end the week at $3.035 a pound by close of trade. Comex copper prices rose 3.7 cents, or 1.21%, on the week. According to the CFTC, net copper shorts totaled 21,249 contracts as of last week, compared to net shorts of 21,438 contracts in the preceding week.

Crude oil two years low and stated forward rally

Crude futures rebounded from two-year lows on Friday on demand from bottom fishers, though gains were cautious on concerns a slumping global economy and a stronger dollar will dampen demand for the commodity going forward. A stronger greenback makes oil a less attractive commodity on dollar-denominated exchanges, especially in the eyes of investors holding other currencies. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded up 0.20% at $85.94 a barrel during U.S. trading. New York-traded oil futures hit a session low of $83.62 a barrel and a high of $86.23 a barrel. The November contract settled down 1.76% at $85.77 a barrel on Thursday. Nymex oil futures were likely to find support at $83.33 a barrel, the low from July 3, 2012, and resistance at $91.79 a barrel, last Friday's high. A stronger dollar coupled with concerns that slumping European and Asian economies will cut demand for crude has sent the commodity plummeting by around 18% since July, though by Friday after a rough week, oil prices rose on demand from bottom fishers. Still, gains were cautious, as concerns persist that a stronger dollar, slumping demand outside of the U.S. and an abundance of global supply will spell further losses for crude down the road. Crude also remained under pressure after the U.S. Energy Information Administration said in its weekly report on Wednesday that oil inventories rose by 5 million barrels in the week ending Oct. 3, blowing past expectations for a gain of 1.6 million barrels. The report also showed that gasoline stockpiles rose by 1.2 million barrels, confounding expectations for a drop of 1.0 million barrels. The data came a day after the American Petroleum Institute said that U.S. crude inventories increased by 5.1 million barrels in the week ending Oct. 3, more than expectations for a rise of 1.4 million barrels. Separately, on the ICE Futures Exchange in London, Brent oil futures for November delivery were up 0.08% at US$90.13 a barrel, while the spread between Brent and U.S. crude contracts stood at US$4.19 a barrel.

Gold price dip by dollar strengthen

Gold prices eased in Asia on Monday on continued dollar strength following upbeat U.S. jobs data last week.On the Comex division of the New York Mercantile Exchange, Goldfor December delivery traded at $1.188.90 a troy ounce, down 0.34%. Last week it hit a session low of $1,190.30 a troy ounce on Friday, a level not seen since December 31.In a report on Friday, the Department of Labor said that the U.S. economy added 248,000 jobs in September, well ahead of forecast for jobs growth of 215,000. The unemployment rate ticked down from 6.0% to 5.9%, the lowest level since July 2008.The upbeat data added to the view that the strengthening economic recovery may prompt the Federal Reserve to raise interest rates sooner than markets are expecting.Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise.The US Dollar Index, which tracks the performance of the greenback against a basket of six major currencies, rallied 1.23% on Friday to close at 86.79, a level last seen in June 2010, capping its twelfth consecutive weekly gain. The index was up 0.04% to 86.82 on Monday.A stronger dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies.In the coming week, investors will be looking ahead to Wednesday’s Federal Reserve meeting minutes for further indications on the future possible direction of U.S. monetary policy.Also on the Comex, silver for December delivery rose 0.23% to $16.865 a troy ounce.Elsewhere in metals trading, Copper for December delivery was up 0.19% to $3.005 a pound by close of trade. Prices hit a six-month low of $2.985 on Thursday.

Crude oil price fall in Asia

Crude oil prices fell in Asia on Monday on continued concerns about over supply and with China markets through Wednesday.On the New York Mercantile Exchange, crude oil for delivery in November fell 0.16% to $89.60 a barrel.Last week, crude oil futures sold off sharply on Friday, as the U.S. dollar surged after upbeat U.S. employment data and amid ongoing concerns over ample global supplies and weak demand.Elsewhere, on the ICE Futures Exchange in London, Brent oil for November delivery slumped $1.11, or 1.19%, on Friday to settle at $92.31 a barrel by close of trade.In a report, the Department of Labor said that the U.S. economy added 248,000 jobs in September, well ahead of forecast for jobs growth of 215,000. The unemployment rate ticked down from 6.0% to 5.9%, the lowest level since July 2008.Meanwhile, fears of a global supply glut pushed prices down as well.Earlier this week, Saudi Arabia cut the prices of the oil it ships to Asia to remain competitive and retain its market share, which added to fears that supply far outstrips demand due in large part to slumping European and Asian economies.In the coming week, investors will be looking ahead to Wednesday’s Federal Reserve meeting minutes for further indications on the future possible direction of U.S. monetary policy.

Gold-Silver-Copper 6-10th Oct outlook

Gold futures tumbled below the $1,200-level for the first time this year on Friday, as robust U.S. nonfarm payrolls data for September underlined optimism over the strength of the economy and fuelled expectations that the Federal Reserve will begin to raise rates sooner and faster than previously thought. On the Comex division of the New York Mercantile Exchange, gold for December delivery hit a session low of $1,190.30 a troy ounce on Friday, a level not seen since December 31. Prices recovered to settle at $1,192.90, down $22.20, or 1.83%, for the day. For the week, Comex gold prices lost $26.20, or 2.14%, the fifth consecutive weekly drop. Futures were likely to find support at $1,182.00, the low from December 31 and resistance at $1,224.00, the high from October 2. In a report, the Department of Labor said that the U.S. economy added 248,000 jobs in September, well ahead of forecast for jobs growth of 215,000. The unemployment rate ticked down from 6.0% to 5.9%, the lowest level since July 2008. The upbeat data added to the view that the strengthening economic recovery may prompt the Federal Reserve to raise interest rates sooner than markets are expecting. Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise. The U.S. Dollar Index, which tracks the performance of the greenback against a basket of six major currencies, rallied 1.23% on Friday to close at 86.79, a level last seen in June 2010, capping its twelfth consecutive weekly gain. A stronger dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies. In the coming week, investors will be looking ahead to Wednesday’s Federal Reserve meeting minutes for further indications on the future possible direction of U.S. monetary policy. Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers decreased their bullish bets in gold futures in the week ending September 30. Net longs totaled 37,743 contracts, down 14.7% from net longs of 44,265 in the preceding week. Also on the Comex, silver for December delivery plunged 22.1 cents, or 1.3%, on Friday to settle the week at $16.82 a troy ounce by close of trade. Prices hit a daily low of $16.64 earlier, the weakest level since March 2010. On the week, the December silver futures contract lost 75.0 cents, or 4.26%, the fifth straight weekly loss. Data from the CFTC showed that net silver shorts totaled 6,073 contracts as of last week, compared to net shorts of 4,893 contracts in the preceding week. Elsewhere in metals trading, copper for December delivery was unchanged on Friday to end the week at $2.998 a pound by close of trade. Prices hit a six-month low of $2.985 on Thursday. Comex copper prices lost 3.9 cents, or 1.28%, on the week, amid speculation weakening economic growth in China will reduce demand for the industrial metal. The Asian nation is the world’s largest copper consumer, accounting for almost 40% of world consumption last year. According to the CFTC, net copper shorts totaled 21,438 contracts as of last week, compared to net shorts of 12,304 contracts in the preceding week.

Natural gas 6-10th Oct weekly outlook

U.S. natural gas futures rallied more than 2% on Friday, as investors bet that cool weather will increase early-winter demand for the heating fuel. The heating season from November through March is the peak demand period for U.S. gas consumption. On the New York Mercantile Exchange, natural gas for delivery in November jumped 10.7 cents, or 2.72%, to settle at $4.039 per million British thermal units by close of trade on Friday. A day earlier, natural gas prices plunged 9.1 cents, or 2.26%, to end at $3.932. Futures were likely to find support at $3.908 per million British thermal units, the low from October 2 and resistance at $4.184, the high from October 1. On the week, Nymex natural gas prices tacked on 0.7 cents, or 0.17%, the second straight weekly gain. Updated weather-forecasting models released Friday called for a cold snap to trek across the northeastern U.S. in the coming days and drive demand for heating. Meanwhile, investors continued to digest Thursday's inventory data, which showed a larger than expected increase for the 24th consecutive week. The U.S. Energy Information Administration said that natural gas storage in the U.S. rose by 112 billion cubic feet, above expectations for an increase of 107 billion. Inventories rose by 99 billion cubic feet in the same week a year earlier, while the five-year average change is a build of 85 billion cubic feet. Injections of gas into storage have surpassed the five-year average for 24 consecutive weeks, alleviating concerns over tightening supplies. Total U.S. natural gas storage stood at 3.100 trillion cubic feet as of last week, narrowing the deficit to the five-year average to 11.4% from a record 54.7% at the end of March. The EIA's next storage report is slated for release on Thursday, October 9, with analysts expecting a build of 114 billion cubic feet for the week ending October 3. Inventories rose by 91 billion cubic feet in the same week a year earlier, while the five-year average change is a build of 84 billion cubic feet. Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers increased their bullish bets in natural gas futures in the week ending September 30. Net longs totaled 26,166 contracts, up 43.7% from net longs of 14,713 in the previous week. Elsewhere on the Nymex, crude oil for November delivery settled at $89.74 a barrel by close of trade on Friday, down $3.61, or 3.61%, on the week. Meanwhile, heating oil for November delivery slumped 3.19% on the week to settle at $2.616 per gallon by close of trade Friday.

Crude oil 6-10th Oct weekly report

Crude oil futures sold off sharply on Friday, as the U.S. dollar surged after upbeat U.S. employment data and amid ongoing concerns over ample global supplies and weak demand. On the New York Mercantile Exchange, crude oil for delivery in November sank $1.27, or 1.4%, on Friday to end the week at $89.74 a barrel by close of trade. Nymex oil prices hit a low of $88.18 on Thursday, a level not seen since April 2013. For the week, New York-traded oil futures lost $3.61, or 3.86%, the third weekly decline over the past four weeks. Elsewhere, on the ICE Futures Exchange in London, Brent oil for November delivery slumped $1.11, or 1.19%, on Friday to settle at $92.31 a barrel by close of trade. Earlier in the day, London-traded Brent prices fell to $91.55, the lowest since June 2012. For the week, the November Brent contract dropped $4.50, or 4.64%, the worst weekly loss since April 2013. Meanwhile the spread between the Brent and the WTI crude contracts stood at $2.57 a barrel by close of trade on Friday, compared to $3.46 in the preceding week. In a report, the Department of Labor said that the U.S. economy added 248,000 jobs in September, well ahead of forecast for jobs growth of 215,000. The unemployment rate ticked down from 6.0% to 5.9%, the lowest level since July 2008. The upbeat data added to the view that the strengthening economic recovery may prompt the Federal Reserve to raise interest rates sooner and faster than markets are expecting. The U.S. Dollar Index, which tracks the performance of the greenback against a basket of six major currencies, rallied 1.23% on Friday to close at 86.79, a level last seen in June 2010, capping its twelfth consecutive weekly gain. Oil is priced in dollars and becomes more expensive for investors who use other currencies to fund their purchases of the commodity when the dollar strengthens. Meanwhile, fears of a global supply glut pushed prices down as well. Earlier this week, Saudi Arabia cut the prices of the oil it ships to Asia to remain competitive and retain its market share, which added to fears that supply far outstrips demand due in large part to slumping European and Asian economies. In the coming week, investors will be looking ahead to Wednesday’s Federal Reserve meeting minutes for further indications on the future possible direction of U.S. monetary policy. Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers increased their bullish bets in New York-traded oil futures in the week ending September 30. Net longs totaled 201,863 contracts as of last week, up 3.9% from net longs of 193,965 in the preceding week.

NYMEX natural gas bearish demand supply report

Natural gas prices dropped on Thursday news that U.S. stockpiles rose more than expected last week. On the New York Mercantile Exchange, natural gas futures for delivery in November were down 2.30% at $3.931 per million British thermal units during U.S. trading. The commodity hit a session low of $3.908, and a high of $4.059. The November contract settled down 2.38% on Wednesday to end at $4.023 per million British thermal units. Natural gas futures were likely to find support at $3.845 per million British thermal units, the low from Sept. 24, and resistance at $4.184, Wednesday's high. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ending Sept. 26 rose by 112 billion cubic feet, above expectations for an increase of 107 billion, which sent prices falling. Inventories rose by 99 billion cubic feet in the same week a year earlier, while the five-year average change is a build of 85 billion cubic feet. Injections of gas into storage have surpassed the five-year average for 24 consecutive weeks, alleviating concerns over tightening supplies. Total U.S. natural gas storage stood at 3.100 trillion cubic feet. Stocks were 373 billion cubic feet less than last year at this time and 399 billion cubic feet below the five-year average of 3.499 trillion cubic feet for this time of year. Uncertain weather forecasts added to the selloff. While a shot of colder air should move across the central and eastern U.S. in the coming days and drive demand for heating, uncertainty as to whether lower mercury readings will reach the eastern U.S. seaboard applied downward pressure on the commodity. "Weather models have been putting out a wide range of solutions, resulting in challenging temperature forecasts for the central and eastern U.S. This pattern would be more intimidating if slightly colder northern Canadian air was tapped, as well as if colder temperatures were more aggressive pushing into the Northeast coast," Natgasweather.com reported in its midday update on Thursday. "It will still be an overall chilly U.S. pattern as much of the northern and central U.S. will experience persistent intrusions of cooler Canadian air, but with the Northeast coast missing out on some of the coldest air, it won't be as intimidating as it could have been." Elsewhere on the NYMEX, light sweet crude oil futures for delivery in November were up 0.40% at $91.09 a barrel, while heating oil for November delivery were down 0.38% at $2.6455 per gallon.

Nymex crude down in Asia as report of jobless claims

Crude oil prices fell in early Asia on Friday as investors looked ahead to latest the U.S. jobs report which could bolster the dollar further.On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded at $91.29 a barrel, down 0.15%, after hitting an overnight session low of $88.20 a barrel and a high of $91.00 a barrel.Overnight, crude futures came off earlier lows after data revealed fewer in the U.S. sought first-time joblessness assistance last week, a sign the economy continues to recover and will demand more fuel and oil going forward.Separately, on the ICE Futures Exchange in London, Brent oil futures for November delivery fell Thursday to $93.42 a barrel, the lowest since June 2012.The U.S. Labor Department reported earlier that the number of individuals filing for initial jobless benefits in the week ending Sept. 27 decreased by 8,000 to 287,000 from the previous week’s revised total of 295,000.Analysts had expected jobless claims to rise by 2,000 to 297,000 last week, and while the numbers brought oil up from earlier lows, the commodity remained in negative territory due to ongoing concerns that global supply far exceeds demand.Investors were now looking ahead to Friday’s U.S. nonfarm payrolls report, which was expected to show that the economy about 215,000 jobs in September.On Wednesday, the U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories decreased by 1.4 million barrels in the week ending Sept. 26, confounding expectations for a gain of 0.7 million barrels, though global supply concerns ending the buying sprees.Total U.S. crude oil inventories stood at 356.6 million barrels as of last week.The report also showed that total motor gasoline inventories decreased by 1.8 million barrels, compared to forecasts for a decline of 0.8 million barrels, while distillate stockpiles declined by 2.9 million barrels.

Gold loss continuous after job less claims

Gold futures extended losses during U.S. morning trade on Thursday, after data showed that the number of people who filed for unemployment assistance in the U.S. last week fell unexpectedly. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,211.80 a troy ounce during U.S. morning hours, down $1.30 from a closing price of $1,215.50 on Wednesday. Gold prices hit $1,204.30 on Tuesday, a level not seen since January 2. Futures were likely to find support at $1,204.30, the low from September 30 and resistance at $1,232.70, the high from September 26. Also on the Comex, silver for December delivery shed 23.9 cents to trade at $17.02 a troy ounce. Futures slumped to a four-year low of $16.85 on Tuesday. The U.S. Department of Labor said in a report that the number of individuals filing for initial jobless benefits decreased by 8,000 last week to 287,000. Analysts had expected jobless claims to rise by 2,000 to 297,000 last week. Investors now looked ahead to the release of the latest U.S. nonfarm payrolls report on Friday, for further indications on the strength of the recovery in the labor market. Market analysts expect the data to show that the U.S. economy added 215,000 jobs in September, after a gain of 142,000 in August. A strong U.S. nonfarm payrolls report was likely to add to speculation over when the Federal Reserve will begin to raise interest rates, while a weak number could boost gold by undermining the argument for an early rate hike. Expectations that the Fed is growing closer to raising interest rates have boosted the dollar and weighed on precious metals in recent months. A stronger U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies. Meanwhile, in the euro zone, the European Central Bank said it was maintaining its benchmark interest rate at a record-low 0.05%, in line with market expectations. The central bank also held its marginal lending at 0.30% and left its deposit facility rate unchanged at -0.20%. Speaking at the ECB’s post-policy meeting press conference, Mario Draghi said that the central bank will begin purchasing asset-backed securities in the fourth quarter of 2014, which will last for two years. The ECB will also launch a covered bond purchasing program in mid-October, aimed at boosting inflation. Elsewhere in metals trading, copper for December delivery dipped 3.2 cents to trade at $3.004 a pound. Appetite for growth-linked assets weakened after a slew of disappointing manufacturing reports on Wednesday showed that factory activity in the U.S. slowed more than expected last month, Germany’s manufacturing sector slid into contraction territory for the first time in 14 months, while activity in China stalled.

Demand starts

U.S. natural gas futures rose to almost two week highs on Monday as forecasts for cooler temperatures bolstered the demand outlook for the home heating fuel. On the New York Mercantile Exchange, natural gas futures for delivery in November were last up 1.01% to $4.070 per million British thermal units. Updated weather forecasting models called for cooler temperatures in the Midwest and eastern U.S. later this week and going into the weekend. Natural gas prices received an additional boost from the rollover to the November contract, after the October contract expired on Friday. Natural gas futures have repeatedly tested the $4 level this month ahead of the approaching peak winter home-heating demand season. Extreme cold in the eastern U.S. last winter saw natural gas prices rise above the $6 per million British thermal units level and reduced inventories to their lowest levels in 11 years in the early part of this year. Since then, suppliers have been rapidly rebuilding storage levels amid a boom in domestic shale gas production.The U.S. Energy Information Administration said in its report last week that natural gas storage in the U.S. rose by 97 billion cubic feet in the week ended September 19, up from 90 billion in the previous week and ahead of expectations of 93 billion cubic feet. Elsewhere on the Nymex, crude oil for delivery in November was up 0.11% to $93.64 a barrel, while heating oil for November delivery was almost unchanged at $2.70.20 per gallon.

Gold raise

Gold futures came off earlier highs in Monday trading after the dollar recovered from mixed U.S. data, though the precious metal remained in positive territory on safe-haven demand stemming from unrest in Hong Kong. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,218.00 a troy ounce during U.S. trading, down 0.21%, up from a session low of $1,215.90 and off a high of $1,223.90. The December contract settled down 0.53% at $1,215.40 on Friday. Futures were likely to find support at $1,206.60 a troy ounce, last Thursday's low, and resistance at $1,232.70, Friday's high. Gold prices remained in positive territory despite the dollar's recovery after investors digested mixed U.S. data and determined the economy is still gaining steam. The National Association of Realtors reported earlier that its pending home sales index fell 1.0% to 104.7 in August from 105.8 in July. Economists had expected the index to tick down 0.1% last month. Separately, the Commerce Department said that U.S. personal spending rose 0.5% in August, beating expectations for an increase of 0.4%, after a 0.1% dip in July. The report also showed that personal income, reflecting income from wages, investment, and government aid, rose 0.3%, up from 0.2% in July, broadly in line with forecasts. Elsewhere, gold prices remained elevated due to safe-haven demand after a wave of protests in Hong Kong spooked investors worldwide. Pro-democracy protestors clashed with police on Monday, angry at China's move to vet all candidates running in the city's elections for chief executive in 2017. Meanwhile, silver for December delivery was up 0.01% at $17.538 a troy ounce, while copper futures for December delivery were up 0.40% at $3.048 a pound.

Crude oil fall

Crude oil prices eased in Asia on Tuesday with investors looking ahead to weekly industry and government reports on U.S. crude oil stockpiles expected to be bearish.On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded at $94.31 a barrel, down 0.21%, after hitting an overnight session low of $92.75 a barrel and a high of $94.63 a barrel.The global Brent oil contract rose 0.2% to $97.20 a barrel on the ICE Futures Europe exchange Monday.Overnight, better-than-expected U.S. personal spending data coupled with news of refinery closures sent oil prices trading near session highs.The Commerce Department reported earlier that U.S. personal spending rose 0.5% in August, beating expectations for an increase of 0.4%, after a 0.1% dip in July, which boosted oil prices on hopes that a more robust U.S. economy will consume more fuel and energy going forward.The report also showed that personal income, reflecting income from wages, investment, and government aid, rose 0.3%, up from 0.2% in July, and broadly in line with forecasts.Oil prices continued to see support after Friday's news that U.S. gross domestic product expanded at an annual rate of 4.6% in the second quarter, in line with the consensus forecast.Elsewhere, prices rose ahead of seasonal refinery closures, when facilities are tweaked to produce gasoline and other products better suited for colder weather.Aside from seasonal maintenance, unplanned closures at refineries in Canada and Texas pressured prices up as well.

Path for the day

Path
Gold26936
B27119,27318,27501
S26737,26554,26355
Sil35197
B31395,35830,32028
S30762,34564,30129
Cr5723
B5774,5834,5885
S5663,5612,5552
Ng247
B249.3,251.5,254.3
S244.3,241.6,239.3
Cop417
B420,421.3,423.6
S415.6,413.3,411.7
Al118.6
B119.3,119.6,120.3
S118.3,117.6,117.3
Ld127
B128,129,130
S126,125,124
Zn139.3
B139.6,140.3,140.6
S138.6,138.3,137.6
Nic1050
B1070.3,1083,1103
S1037,1017,1004.3

Crude Outlook till oct 3

U.S. crude oil futures rose on Friday, boosted by expectations that accelerating economic growth would support demand, while Brent oil futures ended flat, narrowing the gap between the two contracts to the smallest in nearly a year. Crude oil for delivery in November was up 0.96% to settle at $93.39 a barrel on the New York Mercantile Exchange late Friday. For the week, New York-traded oil futures were up 2%. Brent oil for November delivery was almost unchanged at $97.02 a barrel on the ICE Futures Exchange in London and ended the week down 1.07%. The spread between the two contracts stood at $3.63 a barrel at the close. The U.S. contract, West Texas Intermediate, posted its largest weekly gain in a month on the back of a stronger demand outlook and after data showed that domestic stockpiles declined sharply. Concerns over rising global supplies continued to pressure Brent oil lower. U.S. crude stockpiles unexpectedly fell by 4.27 million barrels last week as imports slowed, the U.S. Energy Information Administration said on Wednesday. Crude imports fell by 1.24 million barrels a day to 6.87 million, the lowest since May, as the domestic shale boom continued to eat into demand. Crude received an additional boost after the Commerce Department reported Friday that U.S. gross domestic product was revised up to 4.6% in the three months to June from a previous estimate of 4.2%. It was the fastest rate of expansion since the fourth quarter of 2011. Brent oil remained under pressure as growth in oil exports from Libya and Iraq and increased domestic production in the U.S. combined with sluggish demand from the euro zone and China fuelled concerns over a global supply glut. Earlier this month, both the International Energy Agency and the Organization of the Petroleum Exporting Countries cut their projected estimates for crude demand for next year. OPEC cut its estimate of crude demand by 200,000 barrels a day for 2015.

Gold - Silver - Copper Outlook till Oct 3

Gold futures ended close to their lowest levels of the year on Friday, as the U.S. dollar notched up its eleventh consecutive week of gains, hitting investor demand for the precious metal. Gold for December delivery was down 0.25% to $1,218.80 an ounce on the Comex division of the New York Mercantile Exchange late Friday. Gold futures fell to session lows of $1,206.7 on Thursday, a level not seen since January 2, before recovering, as a selloff in U.S. equities bolstered safe haven demand.For the week, Comex gold prices tacked on 0.17%, snapping a three week losing streak.The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies ended Friday’s session up 0.51% to a four year high of 85.77. A stronger U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies. The dollar was boosted after the Commerce Department reported that U.S. gross domestic product was revised up to 4.6% in the three months to June from a previous estimate of 4.2%. It was the fastest rate of expansion since the fourth quarter of 2011. The upbeat data added to the view that the strengthening economic recovery may prompt the Federal Reserve to raise interest rates sooner than markets are expecting. Expectations for higher interest rates going forward are considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise. Investors will be looking ahead to Friday’s U.S. nonfarm payrolls report for further indications on the strength of the economic recovery, after August’s report fell short of expectations Data from the Commodities Futures Trading Commission released Friday showed that hedge funds and money managers decreased their bullish bets in gold futures for the sixth straight week last week. Net longs totaled 63,884 contracts in the week ending September 23, down from net longs of 72,187 in the preceding week. Also on the Comex, silver for December delivery rose 1.07% to $17.625 an ounce on Friday, paring the week’s losses to 0.83%. Silver prices hit lows of $17.27 an ounce on Thursday, their weakest since June 2010. Comex copper for December delivery eased up 0.27% to end at $3.038 a pound. Elsewhere in metals trading, NYMEX platinum futures for October delivery dropped 1.01% to $1,300.9 an ounce on Friday, the lowest level since October 2009. December NYMEX palladium tumbled 2.67% to end at a five month low of $781.3 an ounce.

Gold falls

Gold futures fell on Friday after upbeat U.S. growth sent both the dollar and U.S. stock indices rising. Gold and the greenback tend to trade inversely with one another, while the precious metal often serves as a safe-haven hedge in times of Wall Street selloffs. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,215.20 a troy ounce during U.S. trading, down 0.55%, up from a session low of $1,213.00 and off a high of $1,231.70. The December contract settled up 0.20% at $1,221.90 on Thursday. Futures were likely to find support at $1,206.60 a troy ounce, Thursday's low, and resistance at $1,237.00, Tuesday's high. Gold prices took a dive as the dollar rose after the Commerce Department said U.S. gross domestic product expanded at an annual rate of 4.6% in the second quarter, in line with the consensus forecast, after contracting by 2.1% in the first three months of the year. U.S. second quarter GDP was initially reported to have increased by 4.2%. The positive data fueled already growing expectations for rate hikes to kick in earlier next year than once anticipated, which would chip away at gold's appeal as a hedge to a weaker dollar in times of low borrowing costs. On Thursday, Dallas Federal Reserve President Richard Fisher said that the U.S. central bank may start raising interest rates around the spring of 2015, earlier than many market expectations. Separately, the Thomson Reuters/University of Michigan final consumer sentiment index remained unchanged at 84.6 this month, just shy of expectations for an uptick to 84.7. Elsewhere, stocks rose on Friday after investors applauded the upbeat U.S. GDP report, which took its toll on gold. On Thursday, stocks dropped on fears Russia may give its courts the green light to freeze foreign assets, a potentially tit-for-tat move in response to Western sanctions slapped on Moscow for allegedly meddling in the Ukraine crisis. Meanwhile, silverfor December delivery was up 0.54% at $17.533 a troy ounce, while copper futures for December delivery were up 0.25% at $3.038 a pound.

All commodity tips 25Sep

Gold
Buy above 26528,tgt 26555,26596,26637,26678
Sl 26487
Sell below 26487,tgt 26460,26419,26378,26338
Sl 26528
Silver
Buy above 39105,tgt 39134,39184,39233,39283
Sl 39055
Sell below 39055,tgt 39055,38976,38927,38877
Sl 39105
Crude
Buy above 5644,tgt 5660,5679,5698,5717,
Sl5625
Sell below 5625,tgt 5610,5591,5572,5554,
Sl5644
Ng
Buy above 236.5,tgt 240.1,244,247.9,251.8,
Sl 232.5
Sell below 232.5,tgt 228.9,225.1,221.3,227.6,
Sl 236.3
Copper
Buy above 415.1,tgt 420,425,430.3,435.5
Sl 410.05
Sell below 410.05,tgt 405.2,400.2,395.2,390.25
Sl 415.1
Aluminium
Buy above 121,tgt 123.6,126.3,129.3.132.1
Sl 118.2
Sell below 118.2,tgt 115.6,112.9,110.3,107.6,
Sl 121
Nickel
Buy above 1064.3tgt 1072,1088.4,1096.7
Sl 1056.2
Sell below 1056.2,tgt 1048.6,1040.5,1032.5,1024.5
Sl 1064.3
Lead
Buy above 129.3,tgt 132.1,135.05,137.9,140.9
Sl 126.5
Sell below 126.5,tgt 123.8,121.1,118.3,115.6
Sl 129.3
Zinc 141,tgt 143.9,146.9,149.9,153
Sl 138.05
Sell below 138.05,tgt 135.2,132.4,129.4,126.6
Sl 141

Path for the day 25sep

Path
Gold26645
B26763,26857,26975
S26551,26433,26339
Sil39389
B39814,40117,40542
S39086,38661,38358
Cru5622
B5658,5678,5714
S5602,5566,5546
Ng234.3
B237.1,239.6,242.4
S231.8,229,226.5
Cop414.9
B417.6,420.6,423.3
S411.9,409.2,406.2
Alu118.2
B118.9,119.7,120.5
S117.4,116.6,115.8
Ld126
B126.9,128.1,129
S124.9,124,122.8
Zn137.8
B138.4,139.5,140.1
S136.8,136.2,135.1
Nic1050.3
B1059,1071.7,1080.5
S1037.6,1028.8,1016.2

Copper, nickel, aluminium, lead, zinc Tips

Copper
Buy above 415.1,tgt 420,425,430.3,435.5,
Sl 410.05
Sell below 410.05,tgt 405.2,400.2,395.2,390.25,
Sl 415.1
Aluminium
Buy above 121,tgt 123.6,126.3,129.3.132.1,
Sl 118.2
Sell below 118.2,tgt 115.6,112.9,110.3,107.6,
Sl 121
Nickel
Buy above 1048.1,tgt 1055.7,1063.8,1072,
Sl 1040
Sell below 1040,tgt 1032.5,1024.51016.5,1008.5,
Sl 1048.1
Lead
Buy above 126.5,tgt 129.3,132.1,135.05,137.9,
Sl 123.7
Sell below 123.7,tgt 121.1,118.3,115.6,112.9,
Sl 126.5
Zinc 138.05,tgt 140.9,143.9,146.9,149.9,
Sl 135.1
Sell below 135.1,tgt 132.4,129.5,126.6,123.8,
Sl 138.05

Crude and Natural Gas Tips

Crude
Buy above 5643,tgt 5659,5678,5697,5716,
Sl5625
Sell below 5625,tgt 5609,5590,5571,5553,
Sl5643
Ng
Buy above 236.4,tgt 240.1,244,247.9,251.8,
Sl 232.5
Sell below 232.5,tgt 228.9,225.1,221.3,227.6,
Sl 236.3

Gold and Silver Tips

Gold
Buy above 26691,tgt 26718,26759,26800,26841,
sl26650
Sell below 26650,tgt 26623,26582,26541,26500,
sl26691
Silver
Buy above 39451,tgt 39481,39531,39581,39631,
sl 39402
Sell below 39402,tgt 39372,39322,39273,39223,
sl39451

Path for the day 24Sep

Path
Gold26667
B25864,27140,27337
S26392,26194,25918
Sil39525
B39941,40309,40725
S39157,38157,38373
Cru5602
B5634,5684,5716
S5552,5520,5470
Ng235.7
B237.4,239.7,241.4
S233.4,231.7,229.4
Cop415.11
B416.8,418.7,420.5
S413.2,411.4,409.5
Alu118.8
B119.5,120,120.6
S118.3,117.6,117.1
Ld126.3
B127,127.6,128.3
S125.6,125,124.3
Zn136.5
B137.6,138.7,139.7
S135.4,134.5,133.3
Nic1035.6
B1047.6,1060.8,1072.8
S1022.4,1010.4,997.2

Natural Gas Raise by week dollar

U.S. natural gas futures rose to their highest level in three days on Tuesday as the decline in the U.S. dollar spurred investors to buy the fuel ahead of the winter. On the New York Mercantile Exchange, natural gas for delivery in November were last up 0.86% to $3.944 per million British thermal units. Prices rose to a session high of $3.959 earlier, the highest since Thursday. Futures were likely to find support at $3.786 per million British thermal units, the low from September 12 and resistance at $3.990, the high from September 19. The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.22% to 84.62, after rising to highs of 84.86 in the previous session, the most since July 2010. A stronger greenback makes dollar-priced commodities become more expensive for holders of other currencies. However, gains were held in check as forecasts for milder temperatures in the Southern U.S. weighed on the demand outlook for gas-powered electricity. The use of air conditioning is a key source of summer demand for natural gas.Updated weather forecasting models calling for comfortable temperatures indicated that larger than normal natural gas inventory builds could be expected to continue for at least several more weeks. The U.S. Energy Information Administration said in its report last week that natural gas storage in the U.S. rose by 90 billion cubic feet last week. Injections of gas into storage have surpassed the five-year average for 22 consecutive weeks, alleviating concerns over tightening supplies. Elsewhere on the Nymex, crude oil for delivery in November was up 0.73% to $91.53 a barrel, while heating oil for October delivery slid 0.16% to $2.6829 per gallon.

Gold started to gain higher

Gold futures gained some ground on Tuesday, as news of U.S. air strikes on Syria lifted safe-haven demand, altough growing expectations for an early U.S. rate hike continued to weigh. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,227.20 a troy ounce during early European trade, up 0.76%. The December contract settled 0.11% higher on Monday to end at $1,217.9 a troy ounce. Gold futures were likely to find support at $1,208.80 an ounce and resistance at $1,240.50, the high from September 17. Demand for the precious metal strengthened after the U.S. announced that with five Arab partner nations it had launched airstrikes against ISIS targets in Syria for the first time on Monday. The strikes are part of a military campaign the Obama administration authorized nearly two weeks ago to "degrade, and ultimately destroy" the ISIS fighters. But gold still remained within close distance of a nine-month low after the Federal Reserve cut its monthly bond-buying program by $10 billion following its two-day policy meeting on September 17, keeping the program on track to finish next month. While the Fed reiterated that it expects rates to remain on hold for a "considerable time" after its quantitative easing program ends, it also projected a faster pace of rate hikes. For the end of 2015, the median forecast was 1.375% compared to a June forecast of 1.125%. The dollar traded near the highest level in more than six years against the yen, while the euro hovered close to 14-month lows, as markets interpreted the Fed's statement as hawkish. A stronger U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies. Elsewhere on the Comex, silver for December delivery gained 0.47% to trade at $17.858 a troy ounce, while copper for December delivery rose 0.25% to trade at $3.046 a pound.

Copper Rises on China Factory Data as Nickel Trims Drop

Copper rose for the first time in five days and nickel trimmed earlier losses after a gauge of manufacturing for China, the biggest consumer of industrial metals, beat estimates.

Copper climbed as much as 0.8 percent in London, while nickel pared losses after falling as much as 3.2 percent. The preliminary Purchasing Managers Index reading for Chinese manufacturing rose to 50.5 from 50.2 in August, exceeding the median estimate of 50 in Bloomberg survey of economists, according to data today from HSBC Holdings Plc and Markit Economics. Readings above 50 indicate expansion.

“It’s all about China,” Chae Un Soo, a metals trader at Korea Exchange Bank Futures Co., said by phone today from Seoul. “Today, we got better-than-expected results from the manufacturing PMI, which has helped the prices up for metals,” improving short-term sentiment, he said.

Copper for delivery in three months on the London Metal Exchange was up 0.7 percent to $6,764.75 a metric ton at 10:22 a.m. in Hong Kong. Today’s gain reduced this year’s loss to 8.1 percent, still the worst-performing base metals on the bourse.

Nickel in London earlier touched $16,483. If prices ended below $16,800, or 20 percent below the closing high of $21,000 on May 13, the metal falls into a bear market, meeting the common definition of the market status.

Prices of the metal rose as much as 56 percent in 2014, entering a bull market March 18 after a ban on ore exports went into effect in January in Indonesia, the top nickel ore miner.

“You have a look at the nickel inventory run-up over the last 18 months and it’s been quite a strong run,” David Lennox, a resource analyst at Fat Prophets, said by phone from Sydney. “There’s plenty of nickel in inventory to cover production for a wee while.”

LME stockpiles for nickel have increased 30 percent this year to 339,036 tons as of Sept. 22, according to exchange data. They reached an all-time high on Sept. 18, the data showed. China’s nickel ore imports from the Philippines climbed 6.4 percent in August to a record 5.33 million tons, Chinese customs data showed Sept. 22.

On the LME, zinc and lead advanced, while aluminum was little changed and tin was unchanged.

Crude Oil NYMEX down in Asia

Crude oil prices dipped early in Asia on Tuesday ahead of industry data on U.S. stocks from the American Petroleum Institute and HSBC's China PMI flash survey for September.On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded at $90.80, down 0.04%, after hitting an overnight session low of $90.426 a barrel and a high of $91.92 a barrel.In China, the flash HSBC manufacturing PMI is due for September with a reading of a borderline between expansion and contraction of 50 expected, down from last month's final of 50.2, a three-month low.The API data later Tuesday comes ahead of the more closely watched stocks data from the Department of Energy on Wednesday.Overnight, disappointing U.S. housing data coupled with ongoing concerns that the global economy is awash in crude while demand remains soft sent oil futures falling on Monday.The National Association of Realtors reported earlier that existing home sales in the U.S. unexpectedly fell 1.8% to an annual unit rate of 5.05 million in August.Analysts had expected existing home sales to rise 1% to 5.20 million units, and the figures sent oil prices falling on fears that U.S. recovery continues to face headwinds and may consume less fuel and energy than once thought.Concerns that global oil supply is outstripping demand also battered crude futures.While the U.S. economy is gaining steam despite hiccups here and there, Europe and China are still battling potholes, which has taken its toll on energy markets.European Central Bank President Mario Draghi said earlier that economic activity in the euro area has slowed and added he saw risks of a further downturn.The global Brent oil benchmark fell 1.4% to $96.97 a barrel on Monday

Natural Gas Starts temperature seen rising in southern U.S

Natural gas prices posted slight gains on Monday after updated weather-forecasting models called for warming temperatures in the southern U.S., which should prompt thermal power plants to burn more of the commodity to meet demand for air conditioning. Still, futures dipped into negative territory at times due to uncertainty as how mild temperatures elsewhere may cut into demand for both heating and air conditioning. On the New York Mercantile Exchange, natural gas futures for delivery in November were up 0.28% at $3.914 per million British thermal units during U.S. trading. The commodity hit a session low of $3.865, and a high of $3.939. The November contract settled down 1.81% on Friday to end at $3.903 per million British thermal units. Natural gas futures were likely to find support at $3.786 per million British thermal units, the low from Sept. 12, and resistance at $4.100, last Wednesday's high. After brief cool snap for the Midwest and Northeast, comfortable temperatures will head northward beginning Wednesday, though pockets of warmer air elsewhere may drive demand for air conditioning. "This will set up almost the entire U.S. with daytime highs reaching the 70s and 80s into next week, with the hottest conditions over the southern U.S. where light cooling demand will be needed," Natgasweather.com reported in its Monday midday update. Uncertainty typical of this time of year prevented prices from rallying. "We continue to watch closely the strengthening cold pool over northern Canada for signs of it advancing toward the U.S. This likely won't happen until after October 5th, at the earliest. The northern U.S. will see weather systems track across, especially as October begins, but they should fail to tap into the significantly cold northern Canadian air," Natgasweather.com added. Meanwhile, the U.S. Energy Information Administration said in its weekly report on Sept. 18 that natural gas storage in the U.S. rose by 90 billion cubic feet last week. Inventories rose by 64 billion cubic feet in the same week a year earlier, while the five-year average change is a build of 60 billion cubic feet. Injections of gas into storage have surpassed the five-year average for 22 consecutive weeks, alleviating concerns over tightening supplies. Total U.S. natural gas storage stood at 2.891 trillion cubic feet as of last week, narrowing the deficit to the five-year average to 13.3% from 14.2% a week earlier and down from a record 54.7% at the end of March. Elsewhere on the NYMEX, light sweet crude oil futures for delivery in November were down 0.85% at $90.88 a barrel, while heating oil for October delivery were down 0.94% at $2.6911 per gallon.

Gold Green Rally Starts

Gold futures posted modest gains on Monday after disappointing U.S. housing data prompted investors to lock in gains from the dollar's recent rally and sell the greenback for profits. Gold and the greenback tend to trade inversely with one another. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,217.70 a troy ounce during U.S. trading, up 0.09%, up from a session low of $1,208.90 and off a high of $1,221.00. The December contract settled down 0.84% at $1,216.60 on Friday. Futures were likely to find support at $1,182.00 a troy ounce, the low from Dec. 31, 2013, and resistance at $1,229.20, Friday's high. In the U.S. earlier, the National Association of Realtors reported that existing home sales unexpectedly fell 1.8% to an annual unit rate of 5.05 million in August. Analysts had expected existing home sales to rise 1% to 5.20 million units, and the numbers weakened the greenback slightly and gave gold room to rise. The dollar has advanced in recent weeks as markets prepare for U.S. monetary policy to grow less accommodative going forward, while Europe and Japan are seen taking steps to loosen policy to stimulate their economies. Earlier Monday, European Central Bank President Mario Draghi economic activity in the euro area has slowed and added he saw a risk of a further downturn, though the dollar still remained soft on sentiments the U.S. currency was due for a breather. Meanwhile, silver for December delivery was down 0.45% at $17.763 a troy ounce, while copper futures for December delivery were down 1.68% at $3.040 a pound.

Path for the day 23Sep

Gold26486
B26659,26823,26996
S26322,26149,25985
Sil39378
B39925,40224,40771
S39079,38532,38233
Cru5596
B5641,5670,5715
S5567,5522,5493
Ng234.6
B236.6,238.3,240.3
S232.8,230.8,229.1
Cop417.4
B422.2,423.8,428.6
S415.8,411.1,409.4
Alu118.4
B119.6,120.3,121.5
S117.7,116.5,115.8
Lead125.8
B127.3,127.9,129.4
S125.2,123.7,123.1
Zinc136.7
B138.9,139.7,141.9
S135.9,133.7,132.9
Nic1062.9
B1094.8,1109,1140.9
S1048.7,1016.8,1002.6

Natural Gas Bounce

 U.S. natural gas futures bounced off a one-week low on Monday, as market players monitored near-term weather forecasts to gauge the strength of demand for the fuel.

On the New York Mercantile Exchange, natural gas for delivery in November tacked on 2.2 cents, or 0.58%, to trade at $3.926 per million British thermal units during U.S. morning hours.

Prices fell to a session low of $3.893 earlier, the weakest level since September 12.

Futures were likely to find support at $3.786 per million British thermal units, the low from September 12 and resistance at $3.990, the high from September 19.

Updated weather forecasting models calls for new pockets of colder-than-normal temperatures in the Southwest, Midwest and Northeast U.S. over the next ten days, which could boost early-season heating demand.

Meanwhile, the U.S. Energy Information Administration said in its weekly report on September 18 that natural gas storage in the U.S. rose by 90 billion cubic feet last week.

Inventories rose by 64 billion cubic feet in the same week a year earlier, while the five-year average change is a build of 60 billion cubic feet.

Injections of gas into storage have surpassed the five-year average for 22 consecutive weeks, alleviating concerns over tightening supplies.

Total U.S. natural gas storage stood at 2.891 trillion cubic feet as of last week, narrowing the deficit to the five-year average to 13.3% from 14.2% a week earlier and down from a record 54.7% at the end of March.

Elsewhere on the Nymex, crude oil for delivery in November shed 4 cents, or 0.04%, to trade at $91.62 a barrel, whileheating oil for October delivery dipped 0.45% to trade at $2.704 per gallon.

Gold trades 9 month low

Gold futures traded at a nine-month low on Monday, as growing expectations for higher U.S. interest rates dampened sentiment for the precious metal. On the Comex division of the New York Mercantile Exchange, gold for December delivery hit a daily low of $1,208.90 a troy ounce, a level not seen since January 2. Prices recovered to last trade at $1,214.50 during U.S. morning hours, down $2.10, or 0.17%. Futures were likely to find support at $1,204.30, the low from January 2 and resistance at $1,229.20, the high from September 19. Also on the Comex, silver for December delivery shed 14.7 cents, or 0.82%, to trade at $17.69 a troy ounce. Prices slumped to a session low of $17.33 earlier, the weakest level since July 2010. Gold remained lower despite data showing that U.S. existing home sales fell unexpectedly in August. The National Association of Realtors said that existing home sales declined 1.8% to a seasonally adjusted 5.05 million units last month from 5.14 million in July. Analysts had expected existing home sales to rise 1% to 5.20 million units in August. The Federal Reserve cut its monthly bond-buying program by $10 billion following its two-day policy meeting on September 17, keeping the program on track to finish next month. While the Fed reiterated that it expects rates to remain on hold for a "considerable time" after its quantitative easing program ends, it also projected a faster pace of rate hikes. For the end of 2015, the median forecast was 1.375% compared to a June forecast of 1.125%. Gold and silver cost money to store and struggles to compete yield-bearing assets when interest rates are on the rise. The dollar traded near the highest level in more than six years against the yen, while the euro hovered close to 14-month lows, as markets interpreted the Fed's statement as hawkish. A stronger U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies. Elsewhere in metals trading, copper for December delivery lost 5.1 cents, or 1.66%, to trade at a four-month low of $3.040 a pound. Copper traders looked ahead to key Chinese economic data later this week to gauge the strength of the world’s second largest economy. The next slice of Chinese economic data to come out will be the HSBC preliminary purchasing managers' index for September, due on Tuesday. The report is expected to show that factory activity deteriorated to a 4-month low of 50.0 this month from August’s reading of 50.2. China’s Finance Minister Lou Jiwei reiterated that policymakers in Beijing will not make major policy adjustments in response to individual economic indicators. The comments were made at a meeting of finance ministers and central bank governors from the G20 countries in Australia over the weekend, according to a statement from the People's Bank of China. Lou’s comment dampened speculation that China will increase stimulus to meet this year’s growth target of 7.5%. The Asian nation is the world's largest copper consumer, accounting for nearly 40% of global demand.