Commodity Market Update (Copper)

Precious metals are trading in a very narrow range today. The actively traded contract on CMX is slightly lower on account of profit booking sentiments of traders after the superb rally in last few sessions. Gold and Silver prices are expected to take some corrective move for the day. Crude Oil is traded mixed since morning with no major move for the day. We expect prices to trade at the current level for rest of the session. Copper seems to be positive for the day a lower opening in the base metals was covered very soon by the gaining prices. Base metals traders will be looking for the US Core Durable and Durable Goods order data to be released today.