Today Commodity Market News Outlook 12th-April
Opens on negative Note Gold -31290-31300 Silver -39000-39060 Energy – Opens on mixed Note Crude Oil – 4360-4370 Natural Gas -174.50-175 Base Metals – Opens on negative Note Copper -448-447 Nickel -894-895 Lead -154.80-155 Zinc – 206-205.50 Aluminium -146.50-147.
Commodity Market News
Gold prices saw a sharp rise and ended at the highest level in 11 week high primarily on back rising geopolitical tensions and on back of rise in expectations amongst investors for a faster U.S rate hikes by the Fed after the FOMC minutes came out. The Fed policy maker were of the opinion that the U.S economy would further strengthen and inflation would be on a steady rise in coming months.
Base metals traded mixed with some cool off seen in most before the end of the trading session. Aluminium prices extended their rally on Wednesday to a sixth straight session, hitting 11-week peak, amid persistent worries about shortages after the United States imposed sanctions on Russia’s Rusal.
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