Market Update

Market Watch

Thursday, 27 September 2012

Commodity News 27 Sep 12

Crude oil to dip on rising inventories, Gold, base metals under pressure

MUMBAI (Commodity Online): Precious metals, base metals and Crude Oil prices in the evening session are expected to trade with negative bias taking cues from weak global market sentiments triggered by doubts that whether the stimulus measures announced might be enough to revive growth of the nations amidst revival of Euro zone debt crisis.

This is creating bearish market sentiments and thereby raising the risk aversion amongst market participants and increase the demand for the US Dollar Index (DX). This in turn would exert downside pressure on the commodities.

Additionally, expectation of rise in the US Crude oil inventories might drive prices of the crude oil on the downside.
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