Friday, 17 August 2012

Commodity Market Update (NATURAL GAS)

Precious metals are trading mixed in a narrow range for one more session, but we expect volatility in the evening hours as the traders are eagerly eyeing at the macroeconomic releases from the US, Gold is trading in a range of $1630-$1570 for past few days and a breakout below or above the level may carry prices for the further move. Silver prices will be taki

ng clues from the Gold’s move for the intraday session. On Energy complex, Crude Oil may post some correction after the significant gain in previous session but the bullish bets are still alive which can take prices higher to $95. Natural Gas will be an active counter today, the release of EIA Natural Gas storage will ignite volatility in gas prices. Base metals will be looking for the US Housing Starts, Building Permit and Unemployment Claims data to be released today; The Philly Fed Manufacturing Index will also be an important release for the base metals traders.

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