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Gold prices rose higher on the back of a weak dollar settled at $1291.80 but still they are finding the 1300 region to be a hard one to crack through. Gold prices have been in a consolidation and ranging mode for the past couple of months with little chances of a break through and the same seems to be continuing as of this week as well. The fact that the gold prices have been unable to break through the $1300 region despite the weakness of the dollar shows that the demand for the metal is probably very low and this is likely to continue to be the situation in the near future as well. Yesterday trade volumes were expected to remain light with Comex floor trading scheduled to remain closed for Thanksgiving. An abbreviated session was slated for Friday. The report also showed that the Fed expects to raise interest rates in the "near term", adding to expectations for a December rate hike. While sentiments remain firm as support also seen after Citigroup report maintaining bullish view for 2018 for Gold as the heightened geopolitical risk environment has been always good for gold, since, in times of uncertainty, traders tend to turn to safe-haven assets. In this article, they will look into the Citigroup gold outlook and see what awaits the yellow metal in the upcoming years. The US multinational investment banking and financial services corporation, Citigroup, has shared its gold price outlook for the next three years. In their recent report, Citigroup has mentioned that they are bullish on gold.

Crude oil on MCX settled up 1.36% at 3798 as the shutdown of the Keystone pipeline and a drawdown in fuel inventories continued to bolster markets despite worries over rising output. The EIA reported that crude oil inventories fell by 1.9 million barrels last week, marking the first decline in three weeks. That was compared with analysts' expectations for a decline of 1.5 million barrels. Prices received additional support from growing signals that the Organization of Petroleum Exporting Countries (OPEC) and its allies will agree to prolong supply curbs beyond March when producers meet in Vienna next week. A draft agenda for OPEC's meeting on Nov. 30 in Vienna pencils in three hours for the group's oil ministers to decide whether to extend their oil supply curbs, indicating that decision-making is expected to run smoothly. The members of Organization of the Petroleum Exporting Countries, Russia and nine other producers are curbing oil output by about 1.8 million barrels per day until March 2018. They are expected to extend the deal at the Vienna meeting. Three hours would be a short meeting by the standards of OPEC, whose gatherings have in the past sometimes stretched into the early hours of the morning as ministers argued about policy. OPEC Secretary General Mohammad Barkindo said on Nov. 7 the group was seeking to achieve consensus before the meeting on how long to extend the pact on curbing production. The deal to curb output is due to expire in March 2018, but OPEC will meet on Nov. 30 to discuss the outlook for the policy.

Copper on MCX settled up 0.13% at 448.90 traded in a tight range stymied by the U.S. Thanksgiving Day holiday and a stagnant greenback. Trade volumes were expected to remain light on Thursday, with Comex floor trading scheduled to remain closed for Thanksgiving. Support seen as Copper inventories in LME-registered warehouses fell 7,200 tonnes to 226,275 tonnes. Stocks have fallen almost 30 percent since mid-September, pointing to tighter supply and supporting prices. Also Unionized workers at Chile's Escondida copper mine, the world's largest, started a 24-hour strike on Thursday to protest against recent layoffs. While Workers for the two largest unions at Southern Copper Corp SCCO.N in Peru started an indefinite strike, though the company said operations were unaffected. The greenback weakened after the minutes of the Fed's latest meeting showed that some policymakers remain concerned over persistently low inflation. The report also showed that the Fed expects to raise interest rates in the "near term", adding to expectations for a December rate hike. However, the central bank added that economic data will determine the timing of future rate hikes, which could mean a slower pace than expected for 2018. On the demand front, many traders are hoping that private sector investment takes off, so that Chinas domestic demand for metals picks up. While the automotive sector is showing a revival, sectors such as housing, construction, and infrastructure are experiencing slow growth.

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