Commodities: Daily Techno Funda For 23rd February By Religare Broking
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Gold (Apr)
Gold prices were steady on the midweek ahead of the FOMC minutes. As per the minutes update, the officials continued to anticipate further increases in borrowing costs would be necessary to bring inflation down to their 2% target.
Crude Oil (Mar)
Crude Oil prices fell further on Wednesday over fears that further interest rate hikes in the US would dampen oil demand in the world’s largest oil consumer, while investors await US crude oil stock data due today .
Natural Gas (Mar)
Natural gas prices rose on Wednesday amid expectations of higher demand from power producers, after a recent slump improved the profitability of the fuel compared to coal.
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