Another silent day for the commodities market, Gold is holding steady at 1616 and Silver at 27.98, almost unchanged from previous closing. We are positive on bullions for intraday. Base Metals are trading mixed and are hardly unchanged from last close, we maintain a neutral view on base metals. Crude Oil is trading below resistance at 94 and we expect prices to rally once it has broken above this level, Natural Gas prices are losing about a percent since morning and trading with a negative bias. Traders are likely to watch the Jobless Claims data from the US to derive clues of further direction.
Key Data to Watch : Unemployment Claims, US Natural Gas Storage