Friday 23 August 2013

Commodity Market Update (Copper)

Precious metals are trading marginally positive in a narrow range with Gold up by 0.34% or 5 point and Silver is higher by 8 cents at 1376.10 and 23.16 respectively. The near term prices action is likely to remain bullish for the day with Gold prices are expected to face resistance around 1380.0 and Silver around 23.5 an ounce. Base metals on LME are trading positive with 3-month Copper is trading at 7352.50, up 60 points and Nickel is logging the maximum gain to trade at 14552.0, +145 points or a percent. The short term outlook remains positive for base metals. Crude Oil on NYM are trading up by 0.28% and Natural Gas is trading down by 0.21% at 105.24 and 3.53.

No comments:

Post a Comment