Precious Metals are trading marginally lower today with Gold down 1.3 and Silver losing about 11 cents to trade at 1771.80 and 34.55 respectively. Bullions look set for a correction after rallying strongly over the past 2 weeks in anticipation of QE 3 from FED which was announced eventually. Support for Gold comes in at 1765.0 below which we may see prices move to 1750.0, Silver should also move lower tracking Gold. Base Metals with the exception of Nickel is trading in negative since morning; three month Nickel is higher by a percent to trade at 17952.0 a ton on LME which Copper is down 0.61% or 49.75 to trade at 8344.0 a ton. We expect base metals to move higher during the day. Crude Oil is trading lower by 16 cents at 98.84 while Natural Gas is higher by 0.58% to trade at 2.96. We are neutral on energy prices for the day.
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