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COMMODITY OUTLOOK

DAILY COMMODITY MARKET UPDATES

NEWS IN HEADLINE

* Oil rises as dollar slides before CPI data, Brent nears $80

* Oil flat after bigger-than-expected build in U.S. crude stockpiles

* Gold prices rise as Fed fears ease ahead of CPI report

CHART OF THE DAY

GOLD: Gold is continuing its bullish momentum above 59000; it successfully closed above these resistance levels due to weakness in the dollar index in the global market and US bond yield. Technically, 59500 is the first and immediate target level; on the downside, 59000–588000 are important support levels.

OUTLOOK:

* Bullion: Day trend is indicating sideways to upside in Gold &Silver.

* Energy: Day trend is indicating sideways to upside in Crude oil & Natural gas 

*Base metals: Day trend is indicating sideways to upside in all base metals.

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