Commodity Market Update

 Indian Rupee has appreciated by over a percent or 75 paise today leading to capped upsides in most Commodities. Precious Metals are likely to trend higher later into the evening with Gold aiming for $1620 and Silver looking at $28.50-$29.0. Base Metals on LME are trading very strong with most metals gaining over 2% each and should continue to gain further. Crude Oil is facing a strong resistance at $85.0 above which prices may move to $87-$87.5 while Natural Gas should remain in the current range.

Key Data to watch : US Factory Orders MoM at 7.30 pm