Monday, 9 February 2015

Commodity Marekt Update (Gold)

Precious metals on CMX rebound from one month low on Monday after the releases of disappointing data from China. Actively traded Gold contract is trading at 1241.50, up more than half a percent or 6.10 points an ounce while Silver is surging around 2% or 31 cents to trade at 17.00 an ounce. NYMEX Crude Oil gained in the early morning session on the back of falling US rig count and tested a high of 53.40 but later on erased some of its gains and trading at 51.89, up 20 cents or 0.40% per barrel. NYMEX Natural Gas surged over 4% after the last three consecutive sessions’ losses and bounced from 32 months low. Now, Gas prices are trading at 2.677, up 3.76% or 10 cents per mmbtu. Base metals are trading quiet since morning with Copper trading at 5660.00, down 17 points while rest of the metals also trading flat with mixed bias.

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