Monday, 11 May 2015

Commodity Market Update

On Comex, precious metals are subdued as traders turned their attention to a meeting between Eurogroup finance ministers and Greece later in the day. Gold futures are trading at $1184 per troy ounce, lower by four dollars and Silver futures are quoting at $16.37 per troy ounce, down by almost nine cents. On Nymex, Crude Oil future prices are trading near the day’s low around $59.10 per barrel which is down by 28 cents or half a percent after making a high of $59.66 as ceasefire started in Yemen today. Natural Gas is trading in green at $2.88 per mmBtu because of a bout of technical buying. On LME, base metals pack is trading on mixed note after rate cut by central bank of China (PBOC). Copper is trading almost flat at $6385 per ton, down four dollar while Lead and Zinc are trading at $2036/ton and $2335/ton, down $12 and $18 respectively. Rest of the pack, Aluminium and Nickel are trading with slightly positive note at $1892 a ton and $14355 a ton respectively.

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