Commodity Market Update

Precious Metals are likely to remain lower today with added support from the appreciated rupee. Gold has strong support at $1550 while Silver finds support at $26.25. Base Metals may move higher internationally but upsides are likely to be capped due to the rupee. Energy Prices are holding steady with Crude trading in a narrow range with a negative bias.

Key Data to watch : European Economic Summit, Core PCE Price Index MoM, Personal Spending and Income MoM, Chicago PMI