Precious metals on CMX are trading in red in the early trade but later on it recovers some of losses and trading near its previous settlement as we write this. Actively traded Gold contract tested a low of 1237.70 before settling at 1243.00, down 2 points and Silver is down around half a percent or 7 cents to trade at 17.40 an ounce. WTI Crude slumped to almost $80 a barrel, trading near its lowest in more than two years amid speculation raising US supplies are exacerbating a global glut. NYMEX Natural Gas is trading flat at 3.804 with positive bias. Base metals plunged as signs of slowing economic growth from China to the US point to weakening demand for industrial metals. 3-month Zinc is losing most of the ground, dived over 2.5% or 60.25 points to trade at 2200.25 and Nickel is trading near its 8 months low of 15405.00, dropped 320 points or 2%, followed by rest of the metals which are decline around a percent each.