Commodity Market Update (Copper)

Precious Metals are trading slightly higher with CMX Gold trading at $1597.50 and Silver at $27.215 and is expected to trade with a negative bias for the rest of the day. The ECB press conference and comment

s from Mario Draghi signifying no concrete steps should weigh on prices today also. Base Metals are trading in green and is likely to remain range bound today, three month Copper on LME is trading at $7345.0, up $50.25 or 0.69%; copper finds strong support at $7250.0 and is likely to remain above it trading into a narrow range. On the energy front, Oil is trading higher by over a percent at $88.11 per barrel while Natural Gas is lower by almost 1% to trade at $2.89 per mmBtu, we expect oil prices to trade with a neutral to negative bias while Gas prices should decline further and remain volatile for the rest of the evening.

Key Data to Watch : US Non Farm Employment Change, US Unemployment Rate and ISM Non Manufacturing PMI