Wednesday 26 March 2014

Commodity Market Update (Crude Oil)


Bullion prices are trading marginally higher with Gold adding 0.24% at 1314.00 and Silver is higher by 0.41% at 20.65 an ounce. The near term outlook seems bearish and we expect prices to drift lower in the coming hours. An important support for Gold is at 1310.0 level and break below this will lead prices to 1275.0 level. Base metals on LME are trading marginally higher with Copper remains the only metal to trade in red at 6563.0, down by 10 points while other metals are marginally positive as we write this. Energy prices on NYM are trading mixed with Crude Oil trading at 99.23, +0.04% and Natural Gas is at 4.39, lower by 0.41% at the time of writing this. Short term outlook remains bearish on Crude Oil and Natural Gas.
Photo: Commodity Market Update (Crude Oil):
Bullion prices are trading marginally higher with Gold adding 0.24% at 1314.00 and Silver is higher by 0.41% at 20.65 an ounce. The near term outlook seems bearish and we expect prices to drift lower in the coming hours. An important support for Gold is at 1310.0 level and break below this will lead prices to 1275.0 level. Base metals on LME are trading marginally higher with Copper remains the only metal to trade in red at 6563.0, down by 10 points while other metals are marginally positive as we write this. Energy prices on NYM are trading mixed with Crude Oil trading at 99.23, +0.04% and Natural Gas is at 4.39, lower by 0.41% at the time of writing this. Short term outlook remains bearish on Crude Oil and Natural Gas.

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