On an intraday basis, we expect gold prices to trade sideways as Federal Reserve rate hike remain uncertain in December also. On the other hand, weak investment demand will also exert downside pressure on the yellow metal.
Global oil markets remain comfortably supplied, slow demand growth in China and rising crude inventories at all time highs spell doom for the commodity.
We expect Copper prices to trade lower today as latest FOMC minutes signaled towards rate hike in December. Besides, slowing Chinese economy and Codelco cutting its premium on copper to China will exert downside pressure on copper prices.
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