Saturday 17 November 2012

Commodity Market Update (Copper)




Bullions are trading silent in a range, the most actively traded Gold futures on COMEX is trading nominally lower at $1709, down by $5 or 0.27%, prices are trading near the crucial support level of $1700, below which the near term view may turn bearish to test the next support near $1675 in coming days. Silver is at $32.28, down by 40 cents or 1.20% at the time of writing this. Base metals on LME are also trading down with 3-month Copper at $7615, down by -$33 or 0.43% along with other metals. On energy complex, Oil is down by 0.41% at $85.10 while Gas prices are at $3.7170, up by 0.41% on the New York Mercantile Exchange.



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