Commodity Market Update (Crued Oil)

                             

Bullions are trading slightly higher in a range since morning, Gold is near $1750, up by 0.15% while Silver is at $33higher by 0.10%. Gold prices are likely to rebound after falling in last couple of sess

ions as the investors are showing interest in Gold at a lower price. Gold is likely to face resistance near $1780 to $1800 in the coming sessions. The front-month contract for Crude Oil is trading at $92.05, more or less unchanged from the previous closing; however the Oil traders are waiting for the Storage report to be released at 8.00 PM today. Natural Gas futures prices are at $3.442, +0.15% or just 5 cents higher and are likely to move in a range. Base metals are trading in red; Copper is lower by half a percentage to trade at $8100.00 on LME, pressured by the uncertainty over the Chinese economic data.

Data to watch:
US Building Permits m/m
US Housing Starts m/m
US Crude Oil Inventories