Commodity Market Update (Silver)

Bullions are trading positive since morning, the actively traded Gold contract on CMX is at $1613, up by $3 while Silver futures is trading at $27.86, up by 10 cents, Gold prices are likely to trade in a range of 1610-1630 and any breakout above or below the level may drag prices in the same direction. Crude Oil on NYMEX is trading half a percent higher at $93.18 with an intraday resistance of $94. Natural Gas is expected to trade at the current level while on Base metals we have a mixed view, prices will be looking for some cues from US Retail Sales and Core Retail sales data to be released today.