Friday, 16 January 2015

Commodity Market Update (Copper)

Gold traded near a four-month high, set for a second weekly gain, on haven demand after Switzerland’s unexpected currency move. Assets in the largest exchange-traded product expanded the most since 2011. Actively traded Gold contract is trading in red at 1259.40, down 5.30 points or half a percent after having tested a low of 1255.20 while Silver tested a low of 16.89 before settling at 16.94, losing around a percent or 16 cents an ounce. Base metals are trading higher since morning with Copper trading at 5690.25, up 36.75 points or 0.58% while Nickel and Lead are leading the group, both are gaining 1.30% each to trade at 14636.00 and 1791.25 respectively. WTI Crude Oil is gaining over 2.5% or 1.15 points to trade at 47.41 while Natural gas is trading at 3.07, dropped around 2.5% or 9 cents per mmbtu.

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