Friday, 8 May 2015

Commodity Market Update (Copper)

Precious metals on COMEX are trading silent since morning ahead of the US Unemployment Rate and Non-farm employment change. Actively traded Gold contract is trading at 1185.80, up 3.40 points while Silver tested a high of 16.46 before settling at 16.37, up more than half a percent or 7 cents an ounce. Base metals are trading in between gains and losses ahead of US Labor department’s reports and a weaker dollar against the other currencies. LME Aluminum is leading the group, surged 1.28% or 24 points to 1904.00 while Copper is up 15 points or 0.23% to trade at 6400.00, followed by rest of the metals which are gaining around half a percent each. WTI Crude Oil was losing in the early trade but later on recovered all the losses and trading in green at 58.98 while Natural Gas is trading almost flat at 2.739 with positive bias.

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