Thursday, 14 August 2014

Commodity Market Update

Precious metals are trading nominally higher today, the most actively traded Gold contract is at 1316.30, +0.16% and Silver is at 19.95 an ounce, adding more than half a percent as we write this. The short term outlook is neutral and we can see prices consolidating in a range. Oil and Natural Gas are at 97.29 and 3.81 respectively. Both are trading negative for, easing 0.30% and 0.39% respectively. Base metals on LME are trading in red at the time of writing this. Copper is lower by 0.2% at 6876.0 and Nickel is down by 0.34% at 18606.0. Intraday bias is negative for Base metals.

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