Monday, 23 February 2015

Commodity Market Update (Gold)

Precious metals on CMX are trading down as demand for safe haven assets weakened after euro zone finance ministers agreed on a deal to extend Greece’s bailout by four months on Friday. Actively traded Gold contract tested a low of 1190.60 before settling at 1192.20, down over a percent or 12.70 points while Silver futures fell 1% or 16 cents to trade at 16.11 after having tested a low of 16.065 an ounce. Base metals are trading mixed since morning with Copper trading at 5680.00, down 19.50 points or 0.34%, followed by Aluminum and Zinc while Nickel is gaining around a percent or 130 points to trade at 14075.00 per metric ton. Natural Gas is extending its last day’s gain and joined 2.64% or 0.078 cents with its previous settlement whereas Crude Oil is down 56 cents or 1.10% to trade at 50.24 per barrel.

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