I. Precious Metals
Gold
Gold hovered near 10-month lows on Tuesday as the market braced for an increase in U.S. interest rates this month, and anticipated more monetary tightening next year on indications that inflation could rise due to more spending under U.S. President-elect Donald Trump's policies. Rising U.S. dollar and U.S. Treasury yields weighed on gold. On chart, gold formed a small cross star on Monday after the downward momentum unleashed. The impasse is expected to continue lack of bets from both market bulls and bears.

Silver
Silver was also little changed on Tuesday. In coming sessions, it will keep tracking gold, awaiting more clues on market news or data.

II. Commodities
Crude Oil
Oil prices on Tuesday ended lower on growing skepticism that the OPEC would be able to reduce supplies as data showed record high production in most major export regions. OPEC's output set another record high in November, rising to 34.19 million barrels per day (bpd) from 33.82 million bpd in October. Russia reported average oil production in November of 11.21 million bpd, its highest in nearly 30 years.

Copper
Copper prices fell on Tuesday as investors cashed in gains after the previous session's rally on concerns that a surge in base metals prices over the last month had left markets overstretched. Copper rose 3 percent on Monday as a slide in the dollar prompted computer-driven fund buying, but the metal has failed to hold those gains. Three-month copper on the London Metal Exchange (LME) closed down 1.1 percent at $5,884 a tonne.

Soybean
U.S. soybean futures rose on Tuesday with another round of export deals and rising palm oil in Asia. But soybeans closed well below its session highs. Chicago Board of Trade January soybean futures settled up 4-1/4 cents at $10.47-3/4 a bushel. January soymeal futures rose $2.4 at $321.9 a tonne. January soyoil futures closed up 15 cents at 37.82 cents.

Dealing Room, ICBC Beijing Branch
Yang Hui

Note: The information herein is provided for informational purpose only. You are liable for the risk incurred to the investments based on this information provided herein.