Commodity Market Update (Silver)

Precious Metals are trading positive in a very narrow range since morning, Gold futures on CMX is trading above its key level of $1620 per ounce and are likely to move further in coming session to a level of $1635, while Silver may be higher around $29 per ounce. The monthly Personal Spending and CB Consumer Confidence will be the important data to watch for the day. Base Metals may trade higher in the evening trading hours. On Energy complex, Crude oil prices are expected to trade around $91.5 in its intraday trading range while a breakout above the suggested level may take prices higher to $93 odd level. NYMEX Natural Gas prices are up by a percent at $3.42 and are likely to remain positive.