Friday 6 December 2013

Commodity Market Update (Copper)

Precious metals on COMEX are trading lower since morning with Gold trading at 1230.70, down 1.30 points or 0.11% after having tested a low of 1223.80 per ounce while front month Silver futures tested a low of 19.31 before settling at 19.50, down 0.36% or 0.07 points per ounce. Base metals on LME are trading higher since morning due to weaker dollar against the other currencies. 3-month Nickel is leading the metals group, up 0.78% or 107 points to trade at 13841.00 while Copper is trading at 7114.00, up half a percent or 33 points, followed by rest of the metals which are gaining around half a percent. Energy prices on NYMEX are trading mix with Crude Oil trading in red at 97.26, down 12 cents while Natural Gas is trading almost flat at 4.135 with a positive bias. On data front, market participants are waiting for US Unemployment Rate and Non Farm Employment Change.

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