Friday 17 January 2014

Commodity Market Update (Copper)


Precious metals are trading marginally higher with Gold trading at 1242.50, +2.30 points or 0.18% and Silver is at 20.08, up by 3 cents or 0.15% at the time of writing this. Intraday view remains negative and we can see prices drifting lower in the following sessions. Crude Oil and Natural Gas on NYM are at 94.43 and 4.6 respectively. Crude Oil is at +0.47% and Natural Gas is lower by 0.50%. Bias for Crude Oil remains neutral while that for Natural Gas stands bearish. Base metals on LME are trading negative with Copper trading at 7289.0, lower by 0.37% and Nickel is at 14554.0, lower by 0.42% as we write this. Intraday bias remains negative for Base Metals.

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