Friday 12 June 2015

Commodity Market Update (Copper)

Precious metals on Comex remained subdued on stronger dollar against other major currencies and ahead of US key economic data. Gold future prices are trading at $1179 per troy ounce, down by one dollar while Silver future prices are trading at $15.85 per troy ounce, lower by eight cents. On Nymex, WTI Crude Oil prices edged lower ahead of latest US rig count data. Crude Oil is trading at $60.24 per barrel, fell by more than half-a-percent. Natural Gas is trading at $2.79 per mmBtu, down by almost one percent after yesterday’s negative storage data. On LME, base metals pack is trading on mixed note. Copper prices are currently quoting at $5908 per tonne, up by 20 points while Nickel is trading at $13120 per tonne, down by 210 dollars. Lead and Zinc are trading at $1850 and $2118 per tonne, lower by 16 dollars and nine dollars respectively.

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