Commodity Market Update

Precious Metals are trading higher since morning today with Gold higher by $18.0 or 1.16% and Silver higher by a percent at $1583.20 and $27.44 respectively. Gold prices are above a resistance at $1580 and may head towards $1600 later in the evening while Silver should move higher once resistance at $27.50. Base Metals are trading strong in green with Copper higher by 1.59% while Nickel is higher by over 2%. Base Metals are also likely to remain strong later into the evening and should move higher. Crude prices are finally trading above resistance at $88.0 and looks set to test $88.50-$89.0 today while Natural Gas should remain in the current range.

Key Data to Watch : US PPI MoM, Core PPI Mom and Prelim UoM Consumer Sentiment