Precious Metals are trading higher today with Gold at 1245.10, up 2.50 and Silver at 19.24, up 11 cents from the previous close. Prices may recover slightly but should decline later into the evening. Base Metals are trading lower today with Lead and Zinc being the worst performers losing over 1.0% each – three month Copper futures are trading at 7058.75, down 38.75 or 0.55%. Prices are likely to remain weak in the evening. Crude Oil is trading at 97.83, down 40 cents or 0.41% and Natural Gas is down 4.86, down 3.0% from the previous close. Oil may move higher whereas Gas is expected to weaken further.
Precious metals on COMEX were trading higher in the early morning trading session but later on erased it gains and trading in red as we write this. Actively traded Gold contract is down 2.70 points or 0.22% to trade at 1249.20 while front month Silver futures tested a low of 20.045 before settling at 20.085, decline by 1.08% or 22 cents an ounce. On NYMEX, Crude Oil were trading lower and tested a low of 93.43 but later on recovered all the losses and trading almost flat at 94.28 per barrel. Base metals prices on LME are trading lower since morning with Copper trading at 7287.25, down 27.25 points or 0.37% after having tested a low of 7271.00 while Aluminum is losing most of the ground, down almost a percent or 14.75 points to trade at 1789.75, followed by rest of the metals which are declining more or less half a percent.