Friday 30 May 2014

Commodity Market Update (Copper)

Precious metals are trading lower with Gold trading at 1252.60, down by 0.29% and Silver is at 19.97 an ounce lower by 0.21% as we write this. The near term outlook remains negative for Gold and Silver and we can see prices drifting further down in coming session. Any case of recovery in prices can also be used as a selling opportunity in Gold and Silver. Crude Oil and Natural Gas prices on NYM are at 103.13 and 4.57 respectively. Crude is trading down by 0.43% while NG is u by 0.29%. Base metals on LME are trading mixed with Copper and Nickel trading in green while other three metals are in red. Copper is at 6898.0, +0.32% and Nickel is at 19000.0, +0.58% at the time of writing this. The intraday bias is neutral for base metals.
Photo: Commodity Market Update (Copper):
Precious metals are trading lower with Gold trading at 1252.60, down by 0.29% and Silver is at 19.97 an ounce lower by 0.21% as we write this. The near term outlook remains negative for Gold and Silver and we can see prices drifting further down in coming session. Any case of recovery in prices can also be used as a selling opportunity in Gold and Silver. Crude Oil and Natural Gas prices on NYM are at 103.13 and 4.57 respectively. Crude is trading down by 0.43% while NG is u by 0.29%. Base metals on LME are trading mixed with Copper and Nickel trading in green while other three metals are in red. Copper is at 6898.0, +0.32% and Nickel is at 19000.0, +0.58% at the time of writing this. The intraday bias is neutral for base metals.

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