Monday, 30 March 2015

Commodity Market Update (Gold)

Precocious metals on CMX are down for a second day after Federal Reserve Chair Janet Yellen said she expects interest rates to rise this year in the world’s biggest economy. Actively traded Gold contract is down around a percent or 11.80 points to trade at 1188.00 after having tested a low of 1185.90 while Silver futures plunged 1.75% or 30 cents to trade at 16.77 an ounce. WTI Crude Oil futures extended sharp losses from the previous session on Monday, amid signs of progress in discussions between western diplomats and Iran over its disputed nuclear industry. WTI Crude Oil futures tumbled 1.10 points or 2.23% to trade at 47.83 per barrel while Natural Gas is losing 0.64% to trade at 2.62 per mmbtu. Base metals are trading mixed since morning with Copper trading at 6078.50, up 17 points after having tested a high of 6123.00 while Nickel tested five year low of 13085.00 before trading in red at 13170.00, down 0.68% or 90 points.

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