Tuesday, 12 May 2015

Commodity Market Update (Silver)

On Comex, precious metals are moving southward as traders eyed for last-minute talks on Greece’s ability to make a major debt payment and getting support too from weak dollars. Gold futures are trading at $1192 per troy ounce, up by more than nine dollars while Silver futures are quoting at $16.41 per troy ounce, higher by 10 cents. On Nymex, Crude Oil future prices are trading near the day’s high at $60.20 a barrel, up 95 cents or one-and-half percent ahead of Tuesday’s latest strategy report from OPEC. Natural Gas is trading almost flat at $2.83/mmBtu, followed by forecasts for a mild weather across the US in the week ahead. On LME, base metals pack is trading in the green ahead of key data from China later this week, except Nickel which is now quoting around $14170 per ton, down 100 points. Copper is currently quoting at $6436 a ton, up 60 dollars while Zinc and Lead are quoting at $2335 and $2035/ton, surged the most among the pack by 1.13 and 1.14 percent respectively.

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