Oil edged further above $45 a barrel on Tuesday as forecasts for a drop in U.S. inventories and speculation of producer
action to prop up prices countered concern about a supply glut.Total U.S. crude inventories were expected to fall by 1
million barrels in weekly reports, although market intelligence firm Genscape has reported a rise of more than 307,000
barrels at the Cushing, Oklahoma U.S. crude delivery hub, traders said.
Gold prices slumped to a one-week low in European trade on Tuesday, amid growing expectations of a U.S. interest
rate hike by the end of this year.Gold for December delivery on the Comex division of the New York Mercantile Exchange
fell to a session low of $1,336.70 a troy ounce, the weakest since July 29. It was last at $1,337.15 by 06:59GMT,
or 2:59AM ET, down $4.15, or 0.31%.
Copper futures fell during late noon trade in the domestic market on Tuesday as investors and speculators cut positions
in the industrial metal as improved China inflation data dimmed the case for fresh policy easing dampening demand
prospects.China’s producer prices fell 1.7 per cent year on year in July 2016 marking the smallest decline in
nearly two years while consumer inflation stood at 2 per cent matching analysts’ estimates.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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