Commodities Under Selling Pressure Ahead of Weekend

Commodities were under selling pressure today after the US inflation data and that were followed by a strong rally of the dollar. The sell-off hit all the markets, be it metal, energy of agricultural.The Consumer Price Index rose 0.1 percent in April, a bit slower than the 0.2 percent growth in the previous month. Yet excluding the volatile components like food and energy, the indicator rose 0.3 percent, surpassing the March’s increase. The mixed data clouded the outlook for timing of the potential interest rate hike from the Fed.

Daily Updates On Gold

Gold settled down -0.65% at 27108 as investors continuing to mull over the Federal Reserve's minutes for its April meeting, amid a slew of disappointing economic data from the U.S. and Europe. Gold prices were under pressure after failing to get any lift from yesterday's dovish Fed minutes.Gold trading range for the day is 26943-27401.

Daily Updates on COPPER

Commercial traders in the copper market have been extremely active through the first half of 2015. It was obvious by the record net long position they set in January that they had big expectations for global growth and the corresponding demand for copper to continue into the summer. However, a growing stream of soft economic data which led to dovish comments by the Federal Reserve Board which led to a dramatic shift in commercial trader sentiment just as the market was approaching solid resistance is now quickly sending this market downward towards its seasonal lows.