I. Precious Metals
Gold
Gold fell to a 5-1/2-month low on Thursday, giving up earlier gains as data showed the biggest increase in U.S. consumer prices in six months while jobless claims fell to a 43-year low, painting an upbeat picture of the U.S. economy. The dollar index tapped a 13-1/2-year high as Fed Chair Janet Yellen told lawmakers that the U.S. central bank could lift borrowing costs "relatively soon", weighing on gold. On chart, gold remained weak, failing to break away from recent trading range with support at around $1,200. But it may bottom up if the dollar'strength eased as investors started wonder whether its recent rally is overdone.

Silver
Silver fell on Thursday in a sharper pace compared with gold. It was kept under $17. In the oming sessions, its downward momentum will be further released.

II. Commodities
Crude Oil
Both Brent and U.S. crude bounced off highs on Thursday and closed in the negative territory. Oil started the day in the positive, with U.S. crude briefly up by as much as $1, on optimism that the Organization of the Petroleum Exporting Countries (OPEC) would reach an agreement to cap production at its meeting in Vienna on Nov. 30. But prices fell after the dollar index firmed on strong U.S. economic data and comments by U.S. Federal Reserve Chair Janet Yellen that bolstered the case for hiking interest rates next month. Investors shall closely watch the informal meeting held in Doha. Oil prices will rally if the OPEC members could strike a deal to limit production.

Copper
Copper rose on Thursday in volatile trade on speculative flows and against the backdrop of falling inventories for the metal used in construction and power. Benchmark copper on the London Metal Exchange closed 1.2 percent higher at $5,495.50 per tonne. Inventories on Thursday rose 2,275 tonnes to 257,875 tonnes, according to LME data, but are down 32 percent from a 2016 peak in September. Copper is expected to remain rangebound at highs.

Soybean
Chicago Board of Trade December soybeans closed modestly higher on technical buying and the spillover effect of a firmer wheat and corn. CBOT January soybeans ended up 3-3/4 cents at $9.89-1/2 a bushel. December soymeal closed $3.1 higher at $311.5 a tonne. December soyoil slipped 0.4 cents to 33.7 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.