Monday, 27 April 2015

Commodity Market Update : Gold

Gold and Silver advances since morning ahead of this week’s Federal Reserve policy meeting on Federal Fund Rate. Actively traded Gold bounced from five weeks low to trade at 1181.30, up 6.20 points and Silver rose around a percent or 15 cents to trade at 15.785 an ounce. Base metals prices rose on Monday, amid speculation policymakers in China will have to introduce further stimulus measures to jumpstart the economy amid lackluster growth. LME Zinc and Nickel are leading the bucket, added around 1.5% each to trade at 2275.00 and 13435.00 respectively while Copper surged over a percent or 62.50 points to trade at 6088.00 per metric ton. WTI Crude Oil is trading between gains and losses on the back of unrest in Yemen and rising Oil stockpiles. Crude Oil is trading almost flat at 57.16 with positive bias while Natural Gas futures tested a low of 2.47 before trading at 2.487, eased 1.74% or 4 cents per mmbtu.

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