Overnight Market

Crude oil fell weekly Metals rose across the board Iron ore, nickel, COMEX silver and other top gainers.
Overnight domestic market base metals rose across the board, Shanghai tin rose 1.05%, Shanghai nickel rose 0.71%, Shanghai zinc rose 1.43%, Shanghai copper rose 0.89%, Shanghai lead rose 0.59%. Shanghai aluminium rose 1.43%. Alumina main futures rose 0.03%. Black system are red, iron ore rose 1.94%, thread and hot coil rose 0.7%, 0.63%. Stainless steel rose 0.79%. Double coke are up, coking coal rose 1.37%, coke rose 0.38%. Foreign metal, overnight LME metal all upward. Lun tin rose 0.46%, Lun nickel rose 1.47%, Lun zinc rose 1.27%, Lun copper rose 1.32%, Lun aluminium rose 1.27%, Lun lead rose 0.43%. Precious metals, by the Middle East tensions triggered by the continued safe-haven demand support, gold prices rose. Overnight COMEX gold rose 0.95%, COMEX silver rose 1.45%. As of the close of the overnight market, domestic precious metal futures are up. Among them, Shanghai gold rose 1.25%, Shanghai silver rose 0.94%. Independent metal trader Tai Wong said that as the market is still extremely worried about the war in the Middle East, gold has almost held on to all of its recent gains. Safe-haven gold has risen about 8 per cent, or more than $150, since the two sides went to war on 7 October. Daniel Ghali, commodities strategist at TD Securities, said: "If the conflict escalates, there could be more safe-haven buying ...... Gold investors will also be watching the outlook for U.S. bond yields."
[source - shanghainonferrous.com]