Commodity Market Update

Commodities are likely to remain range bound with key support for Gold coming in at $1588 and for Silver support comes into play at $27. Bullions should remain in a broad range while trading with a slightly negative bias. Base Metals are expected to remain in a range today with the manufacturing data from US adding some support for prices. Energy prices are likely to remain positive over the day and small dips should be seen as a good opportunity to consider longs over the short term.