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Commodity Market Update-21 October 2015

Discussion in 'Commodity vs Dollar' started by capitalstars05, Oct 21, 2015.

  1. capitalstars05

    capitalstars05 New Member

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    GOLD: Gold Under Pressure Ahead Of ECB Meeting, ECB’s press conference on Thursday. This scenario should be good news for stocks and the dollar, and bad for the dollar denominated gold.

    COPPER: A 12-day strike at Chilean copper mine ended on Tuesday, state-owned Codelco said, after unionized supervisors accepted a new collective contract. The contract will last 24 months and a work commission would be created to deal with health and expenses issues, the company said in a statement. Codelco, the world’s biggest copper miner, has not said how much production was lost due to the strike, which involved around 180 professionals and supervisors.

    CRUDE OIL: World Bank Downgrades Oil Forecast Ahead of OPEC Meeting Members of the Organization of the Petroleum Exporting Countries, the 12-nation oil cartel, and non-OPEC nations, like Russia and Mexico, are meeting in Vienna on Wednesday. Although participants have said that supply cuts will be discussed, few analysts expect any meaningful departure from OPEC’s policy to pump oil to defend its market share.
    The World Bank today lowered its 2015 forecast for crude oil prices from USD 57 per barrel in its July report to USD 52 per barrel, a development that could bring in additional savings to the Indian treasury.
     
    #1 capitalstars05, Oct 21, 2015
    Last edited by a moderator: Nov 11, 2015
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