Precious Metals are trading slightly lower today with Gold and Silver for Dec delivery lower by 1.5 and 0.20 at 1763.60 and 33.78 per ounce respectively. On MCX, Gold is sharply higher by 116 points to trade at 31437.0 while Silver is trading at 61690.0, up 15 points. We are neutral on bullions for intraday. The rupee depreciated by 32 paise or 0.61% and is currently trading at 53.04. Base Metals on LME are trading deep into red; three month Copper is trading at 8123.50, down 38.5 or 0.475 whereas Nickel is down 1.24% or 222.0 to trade at 17737.0 per ton. Lead is biggest loser since morning today, down 1.71% or 38.5 to trade at 2214.0 per ton. Base Metals are trading with a slight negative bias and we may see it move lower further in the evening. Energy prices are trading mixed today, Crude Oil is lower by 0.51% or 47 cents to trade at 91.92 after the sharp rally seen last evening while Natural Gas is higher by 0.61% to trade at 3.488 per mmbtu. The outlook on Crude Oil is bullish and we expect prices to move higher to test resistance at 94.0, possibly higher to 96.0 this week.
No Major Economic Releases.
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