Friday, 17 April 2015

Commodity Market Update (Copper)

Precious metals on CMX are trading in gains and losses for the last couple of sessions due to mixed bag of economic releases from US and the world’s other economy. Front month Gold futures gained 0.64% or 7.50 points to trade at 1205.60 while Silver futures trading around day’s high of 16.41, up 0.80% or 12 cents an ounce as we write this. WTI Crude Oil futures are trading lower due to rising crude supplies from OPEC members which outweighed signs of a slowdown in U.S. output and Middle East tensions. Actively traded Crude Oil contract is losing 0.78% or 44 cents to trade at 56.27 after having tested a low of 55.75 per barrel while Natural Gas eased around a percent or 2 cents to trade at 2.659 per mmbtu. Base metals are trading higher since morning with Copper trading at 6138.00, up 0.82% or 50 points while Aluminum is leading bucket, surged a percent or 18 points to trade at 1841.00, followed by rest of the metals.

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