MTECHTIPS:-Natural gas prices to rise on higher global demand MTECHTIPS-Natural gas Precious metal prices continued its buying spree for the third straight week with Comex Gold prices up 0.8 percent and silver prices holding well with 1 percent gains over last one week. Next week’s upcoming FOMC minutes could give new insight with whether the Fed is being more dovish over interest rate policy. Base metal complex traded within tight range last week on rising possibilities of a trade conflict resolution between the US and China. Certain metal prices like zinc, nickel and aluminium gave a pullback of at least 2 percent while copper and lead suffered losses. Crude oil prices got temporary support due to tight OPEC policy, however, the broader context remains bearish. Nymex natural gas lately has bounced back on lower than expected inventory addition last week.Natural gas stocks currently stand at 2.738 tcf, 4 percent lower than the five -year average. There are higher probabilities that the inventory may easily jump to reach 3.7 tcf by the end of October.Natural gas inventories have started the injection period with 30 percent below the five-year average. The current pace of inventory addition is MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips WWW.MTECHTIPS.COM 07489294118-119
Published on Aug 19 2019 7:49PM, by MTECHTIPS in Commodity tips| Share This