Friday 28 November 2014

Commodity Market Update (Copper)


Precious metals are trading lower with Gold trading at 1182.70 and Silver is at 16.03 an ounce. The near term outlook is bearish and we expect prices to extend declines in coming hours. Base metals are trading in red with all the metals logging decline over a percent each. Copper is at 6480.00, -1.03%, as we write this. Energy prices are trading in red with Crude Oil lower by as much as 7% after the decision from OPEC to uncut oil production and Natural Gas is at 4.20, lower by 3.40% as we write this. Bias for today remains negative and further decline in all commodities are expected in coming hours.

Photo: Commodity Market Update (Copper):
Precious metals are trading lower with Gold trading at 1182.70 and Silver is at 16.03 an ounce. The near term outlook is bearish and we expect prices to extend declines in coming hours. Base metals are trading in red with all the metals logging decline over a percent each. Copper is at 6480.00, -1.03%, as we write this. Energy prices are trading in red with Crude Oil lower by as much as 7% after the decision from OPEC to uncut oil production and Natural Gas is at 4.20, lower by 3.40% as we write this. Bias for today remains negative and further decline in all commodities are expected in coming hours.

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