MTECHTIPS COMMODITY NEWS MARKET

MTECHTIPS:-Crude dips on global growth concerns, eyes Venezuela

elections
Crude oil futures fell in Asian trading on Monday on concerns a noted improvement in U.S. unemployment data didn't depict an economy experiencing any major uptick in growth.Investors were keeping a close eye on presidential elections in Venezuela, where a tight race was taking place between President Hugo Chavez and his challenger, Henrique Capriles. On the New York Mercantile Exchange, light, sweet crude futures for delivery in November traded at USD89.57 a barrel on Monday, down 0.34%, off from a session high of USD89.69 and up from an earlier session low of USD89.54.The U.S. unemployment rate fell to 7.8% percent in September from 8.1% in August, the Bureau of Labor Statistics reported Friday.Employers added a net 114,000 jobs in September, while households reported that total employment rose by 873,000 in September following three months of little change. The number of unemployed Americans stood at 12.1 million in September, the fewest since January 2009.However, the improvement to the headline rate came from an increase in demand for part-time workers, likely for campaign work ahead of November's presidential elections, which kept oil down.

MTECHTIPS:-Gold trades flat as market interprets U.S. employment data

Gold prices were flat in Asian trading on Monday as investors continued to favor dollar positions upon concluding that an improvement in the U.S. unemployment rate did not depict a firming labor market and a rebounding U.S. economy.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.02% at USD1,781.15 a troy ounce, up from a session low of USD1,779.15 and down from a high of USD1,781.55 a troy ounce.Gold futures were likely to test support at USD1,774.95 a troy ounce, Friday's low, and resistance at USD1,798.05, Friday's high. Gold and the dollar historically trade inversely from one another, and the greenback rose early Monday as investors viewed the September jobs report with a degree of skepticism and avoided risk.The U.S. unemployment rate fell to 7.8% percent in September from 8.1% in August, the Bureau of Labor Statistics reported Friday.Employers added a net 114,000 jobs in September, while households reported that total employment rose by 873,000 in September following three months of little change. The number of unemployed Americans stood at 12.1 million in September, the fewest since January 2009. A surge in demand for part-time workers sent the headline unemployment rating falling, possibly due to political campaigns hiring younger Americans for work ahead of November's elections.

MTECHTIPS:-MCX Gold flat as Rupee shrinks; Markets follow US cues

Gold prices are trading flat on the Asian markets as dollar firmed up with investors speculating that the US job data may not be portraying a robust picture of the economy as previously thought. This caused a rush to secure greenback in droves.Gold on the Comex was up by 0.02% at $1781.5 a troy ounce even as December Gold on the MCX was at Rs.31161 down by 0.02%.Rupee meanwhile lost 25 paise against dollar and was at Rs. 52.10 per dollar in early trade.The US unemployment rate dropped to 7.8% percent in September from 8.1% in August as per official statistics.There were reports that former CEO of General Electric, Jack Welch expressed lack of confidence in the US job data even alleging manipulations by authorities. It is unclear if this influenced the investors in precious metals.Meanwhile, Silver for December delivery on the Comex was down 0.02% and trading at $34.565 a troy ounce.

MTECHTIPS:-USD strength brings down Crude Oil futures across Comexes

With investors flocking to US Dollar, crude oil is down across board in India's MCX, NYMEX and ICE Futures Europe.The US unemployment data, though it brought a short-term cheer to the markets, saw a withdrawal of tide in the weekend. Investors speculated that the data may not be portraying a robust uptick in the state of the economy. This led them to purchase dollar in huge quantities.In the Indian currency markets, Rupee lost 25 paise to Dollar. On the MCX Crude Oil for October delivery witnessed a drop of 0.21% and was seen trading at Rs.4668 a barrel. It opened at Rs.4668 and touched a high of Rs.4690 and a low of Rs.4667 in the initial hour of the trade.November Brent futures were down 0.35% and was seen at $111.50 a barrel, overtaking by $21.93 its US counterpart, the WTI Crude Oil in early morning hours of IST.On the NYMEX light, sweet crude futures for November delivery was at $89.57 a barrel on Monday, down 0.34%.

MTECHTIPS:-Natural Gas: Barclays revises Q4 price forecast from $3/MMBtu to $3.35

Barclays is revising their Q4 price forecast for natural gas from $3/MMBtu to $3.35/MMBtu.Notice our Q4 price forecast remains well below where the curve is now, as we believe the market is still not pricing in the latent supply that could render more production than anticipated, while the incremental loss of coal displacement due to higher gas prices will also reduce power demand. the Bank said in a report.Natural gas prices remain dislocated from market fundamentals, despite making some corrections last Wednesday. The market finished Thursday with prices gaining one to two pennies across the curve despite a bearish storage injection, which was 5 Bcf higher than the markets expectations.For the week ending on 28 September, storage added 77 Bcf, with the West injecting 8 Bcf and the East, 42 Bcf. The Producing region added 27 Bcf. The storage overhang fell by 3.43 Bcf/d y/y. However, most of the incremental tightening is due to higher y/y heating demand and nuclear outages, while y/y coal displacement is only down to about 1 Bcf/d, compared with the peak at 6 Bcf/d y/y reached in the spring.Although some of the latent supply appears to be delayed into Q4 rather than materialising in September, it remains a large upside risk for natural gas production that could bearishly surprise the market in the next few months.