Friday 14 June 2013

Commodity Market Update (Copper)



Bullion prices are trading flat after a sharp decline in its previous session. The most actively traded Gold contract is at $1380.00, higher by 0.16% and Silver stands at $21.69, recording a meager gain of just 10 cents till now. We expect prices to trade in a range with a negative bias for the day with an important support for Gold is at $1360.00 and that for Silver is at $21.30 an ounce. Base metals across the LME are trading marginally higher with the exception of Aluminum which is trading higher by 0.17% at $1856.75. 3-month Nickel on LME is performing the best till now at $14275.00, added 165 points and Copper is at $7092.00, +30 points at the time of writing this. Crude Oil and Natural Gas across the NYM is at $97.12 and $3.80 respectively with Oil prices is higher by 0.44% and Natural Gas is down by 0.16%.

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