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  • Mtechtips Commodity Market News 1

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    MtechTips
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    MTECHTIPS COMMODITY MARKET NEWS 1 MTECHTIPS:-GLOBAL HAPPENINGS Manufacturing activity in China expanded for the first time in three months, a sign that the country could be recovering from its slowest pace of growth in three years. The Purchasing Manager's Index (PMI) rose to 50.2 in October from 49.8 in September.The Chicago PMI business barometer edged up in October to 49.9% from 49.7% in the prior month, but remained below the key 50% mark for the second straight month. Readings below 50% indicate contraction. The new-orders index rose to 50.6% from 47.4%, but the production gauge fell to 51.8% from 55.4% and the inventories component dropped to 49.6% from 51.1%, The employment index,meanwhile, fell to a 33-month low of 50.3% MTECHTIPS:-GOLD Gold traded flat on Thursday, shrugging off data showing China's economy was perking up, as investors waited on the sidelines of the market for U.S. employment data due on Friday. Technical analysis suggested that spot gold may rebound marginally to $1,736 an ounce, as indicated by a falling channel and a Fibonacci retracement analysis. SPDR Gold Trust the world's biggest goldbacked exchange-traded fund, remained unchanged at 1336 tons on Tuesday. Outlook: Gold is expected to trade with positive bias and take cues from US economic data. MTECHTIPS:-SILVER Silver was steady and expected to get support from better than expected Chinese economic data. However no cues regarding when Spain would ask for bailout and uncertanity of bailout package for Greece. However it was supported by better than expected Spanish GDP. ishares silver trust, the world’s largest silver backed ETF holdings remained unchanged at 9923 tons on Monday. Outlook Silver prices are expected to trade with positive bias and later take cues from US economic data and news flow from Euro zone. MTECHTIPS:-CRUDEOIL Brent crude edged down toward $108 a barrel on Thursday as investors focused on concerns that storm Sandy's rampage across the U.S. East Coast could reduce fuel demand and shrugged off data pointing to a recovery in China. Industrial activity in China improved in October, confirming a trend toward recovering growth, though the recovery remains sluggish. Investors were on the side lines on an uncertain political outlook in US & leadership change in China. Outlook: Crude is expected to expected to trade with positive bias on account of Geo political tensions in middle east and later on take cues from US EIA crude inventory report and US Economic data. MTECHTIPS;-COPPER London copper extended gains into a third session on Thursday after China's official PMI data showed factory activity in the world's second-largest economy and top metals consumer recovering from a two-month dip into contracting territory. China's official factory purchasing managers' index rose to 50.2 in October from 49.8 in September and is expected to provide support to the copper prices. Outlook: Copper prices are expected to trade with positive bias on account of better than expected Chinese PMI and later take cues from US economic data.

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    MTECHTIPS COMMODITY MARKET NEWS 1 MTECHTIPS:-GLOBAL HAPPENINGS Manufacturing activity in China expanded for the first time in three months, a sign that the country could be recovering from its slowest pace of growth in three years. The Purchasing Manager's Index (PMI) rose to 50.2 in October from 49.8 in September.The Chicago PMI business barometer edged up in October to 49.9% from 49.7% in the prior month, but remained below the key 50% mark for the second straight month. Readings below 50% indicate contraction. The new-orders index rose to 50.6% from 47.4%, but the production gauge fell to 51.8% from 55.4% and the inventories component dropped to 49.6% from 51.1%, The employment index,meanwhile, fell to a 33-month low of 50.3% MTECHTIPS:-GOLD Gold traded flat on Thursday, shrugging off data showing China's economy was perking up, as investors waited on the sidelines of the market for U.S. employment data due on Friday. Technical analysis suggested that spot gold may rebound marginally to $1,736 an ounce, as indicated by a falling channel and a Fibonacci retracement analysis. SPDR Gold Trust the world's biggest goldbacked exchange-traded fund, remained unchanged at 1336 tons on Tuesday. Outlook: Gold is expected to trade with positive bias and take cues from US economic data. MTECHTIPS:-SILVER Silver was steady and expected to get support from better than expected Chinese economic data. However no cues regarding when Spain would ask for bailout and uncertanity of bailout package for Greece. However it was supported by better than expected Spanish GDP. ishares silver trust, the world’s largest silver backed ETF holdings remained unchanged at 9923 tons on Monday. Outlook Silver prices are expected to trade with positive bias and later take cues from US economic data and news flow from Euro zone. MTECHTIPS:-CRUDEOIL Brent crude edged down toward $108 a barrel on Thursday as investors focused on concerns that storm Sandy's rampage across the U.S. East Coast could reduce fuel demand and shrugged off data pointing to a recovery in China. Industrial activity in China improved in October, confirming a trend toward recovering growth, though the recovery remains sluggish. Investors were on the side lines on an uncertain political outlook in US & leadership change in China. Outlook: Crude is expected to expected to trade with positive bias on account of Geo political tensions in middle east and later on take cues from US EIA crude inventory report and US Economic data. MTECHTIPS;-COPPER London copper extended gains into a third session on Thursday after China's official PMI data showed factory activity in the world's second-largest economy and top metals consumer recovering from a two-month dip into contracting territory. China's official factory purchasing managers' index rose to 50.2 in October from 49.8 in September and is expected to provide support to the copper prices. Outlook: Copper prices are expected to trade with positive bias on account of better than expected Chinese PMI and later take cues from US economic data.

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    Mtechtips Commodity Market News 1

    Enviado por

    MtechTips
    MTECHTIPS COMMODITY MARKET NEWS 1 MTECHTIPS:-GLOBAL HAPPENINGS Manufacturing activity in China expanded for the first time in three months, a sign that the country could be recovering from its slowest pace of growth in three years. The Purchasing Manager's Index (PMI) rose to 50.2 in October from 49.8 in September.The Chicago PMI business barometer edged up in October to 49.9% from 49.7% in the prior month, but remained below the key 50% mark for the second straight month. Readings below 50% indicate contraction. The new-orders index rose to 50.6% from 47.4%, but the production gauge fell to 51.8% from 55.4% and the inventories component dropped to 49.6% from 51.1%, The employment index,meanwhile, fell to a 33-month low of 50.3% MTECHTIPS:-GOLD Gold traded flat on Thursday, shrugging off data showing China's economy was perking up, as investors waited on the sidelines of the market for U.S. employment data due on Friday. Technical analysis suggested that spot gold may rebound marginally to $1,736 an ounce, as indicated by a falling channel and a Fibonacci retracement analysis. SPDR Gold Trust the world's biggest goldbacked exchange-traded fund, remained unchanged at 1336 tons on Tuesday. Outlook: Gold is expected to trade with positive bias and take cues from US economic data. MTECHTIPS:-SILVER Silver was steady and expected to get support from better than expected Chinese economic data. However no cues regarding when Spain would ask for bailout and uncertanity of bailout package for Greece. However it was supported by better than expected Spanish GDP. ishares silver trust, the world’s largest silver backed ETF holdings remained unchanged at 9923 tons on Monday. Outlook Silver prices are expected to trade with positive bias and later take cues from US economic data and news flow from Euro zone. MTECHTIPS:-CRUDEOIL Brent crude edged down toward $108 a barrel on Thursday as investors focused on concerns that storm Sandy's rampage across the U.S. East Coast could reduce fuel demand and shrugged off data pointing to a recovery in China. Industrial activity in China improved in October, confirming a trend toward recovering growth, though the recovery remains sluggish. Investors were on the side lines on an uncertain political outlook in US & leadership change in China. Outlook: Crude is expected to expected to trade with positive bias on account of Geo political tensions in middle east and later on take cues from US EIA crude inventory report and US Economic data. MTECHTIPS;-COPPER London copper extended gains into a third session on Thursday after China's official PMI data showed factory activity in the world's second-largest economy and top metals consumer recovering from a two-month dip into contracting territory. China's official factory purchasing managers' index rose to 50.2 in October from 49.8 in September and is expected to provide support to the copper prices. Outlook: Copper prices are expected to trade with positive bias on account of better than expected Chinese PMI and later take cues from US economic data.

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    MTECHTIPS COMMODITY MARKET NEWS 1

    MTECHTIPS:-GLOBAL HAPPENINGS Manufacturing activity in China expanded for the first time in three months, a sign that the country could be recovering from its slowest pace of growth in three years. The Purchasing Manager's Index (PMI) rose to 50.2 in October from 49.8 in September.The Chicago PMI business barometer edged up in October to 49.9% from 49.7% in the prior month, but remained below the key 50% mark for the second straight month. Readings below 50% indicate contraction. The new-orders index rose to 50.6% from 47.4%, but the production gauge fell to 51.8% from 55.4% and the inventories component dropped to 49.6% from 51.1%, The employment index,meanwhile, fell to a 33-month low of 50.3% MTECHTIPS:-GOLD
    Gold traded flat on Thursday, shrugging off data showing China's economy was perking up, as investors waited on the sidelines of the market for U.S. employment data due on Friday. Technical analysis suggested that spot gold may rebound marginally to $1,736 an ounce, as indicated by a falling channel and a Fibonacci retracement analysis. SPDR Gold Trust the world's biggest goldbacked exchange-traded fund, remained unchanged at 1336 tons on Tuesday. Outlook: Gold is expected to trade with positive bias and take cues from US economic data.

    MTECHTIPS:-SILVER
    Silver was steady and expected to get support from better than expected Chinese economic data. However no cues regarding when Spain would ask for bailout and uncertanity of bailout package for Greece. However it was supported by better than expected Spanish GDP. ishares silver trust, the worlds largest silver backed ETF holdings remained unchanged at 9923 tons on Monday. Outlook Silver prices are expected to trade with positive bias and later take cues from US economic data and news flow from Euro zone.

    MTECHTIPS:-CRUDEOIL Brent crude edged down toward $108 a barrel on Thursday as investors focused on concerns that storm Sandy's rampage across the U.S. East Coast could reduce fuel demand and shrugged off data pointing to a recovery in China. Industrial activity in China improved in October, confirming a trend toward recovering growth, though the recovery remains sluggish. Investors were on the side lines on an uncertain political outlook in US & leadership change in China. Outlook: Crude is expected to expected to trade with positive bias on account of Geo political tensions in middle east and later on take cues from US EIA crude inventory report and US Economic data. MTECHTIPS;-COPPER

    London copper extended gains into a third session on Thursday after China's official PMI data showed factory activity in the world's second-largest economy and top metals consumer recovering from a two-month dip into contracting territory. China's official factory purchasing managers' index rose to 50.2 in October from 49.8 in September and is expected to provide support to the copper prices. Outlook: Copper prices are expected to trade with positive bias on account of better than expected Chinese PMI and later take cues from US economic data.

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