Commodity Market Update ( Silver)

Precious Metals continue to remain range bound since last evening, Gold is steady at $1616 and Silver is up 5 cents at $27.91; our bias remains positive on bullions. Base Metals on LME are trading higher, Copper is up almost a percent to trade at $7540.0. We expect base metals to move higher and remain stronger later into the evening. Crude Oil is trading at $92.2

1 and may correct later into the evening but the short term trend remains positive so one may expect prices to rebound strongly after moving higher, Natural Gas continues to remain weak and is trading at $2.88 and it seems to be headed for $2.75 support this week. With the lack of economic releases, expect the markets to remain range bound for the rest of the session.