Commodity Market Update (Copper): 19th October, 2012

Gold and Silver prices are trading lower since morning. The actively traded Gold contract is down by $10.50 at $1734.20 and Silver is lower by 52 cents or 1.61% at $32.34. We expect prices to remain in a range for the day as the traders are cautious ahead of the uncertainty over the Spain’s bailout. Energy prices are trading silent at $92.05, down 0.07% and Gas contract is trading lower by a quarter percent at $3.578. Base metals prices are trading sharply lower on LME. Three-month Copper is down by more than 1% at $8100 and Nickel is trading lower by 1.33% at $17100.