Commodity Market Update (Gold)

Bullions are trading lower on COMEX since morning, Gold is trading at 1748.0, down 11.70 or 0.66% and Silver is also lower by 40 cents or 1.20% to trade at 33.26. Prices are trading in narrow range and is expected to trade with a slight positive bias towards the evening. The rupee has also depreciated against the dollar and is trading at 53.04, down 23 paise or 0.45% at the time of writing this. Base Metals with the exception of Nickel are trading in red since morning, three month Copper is trading marginally lower at 8112.50 whereas Nickel is trading at 17245.0, up 83.0 or 0.48%. Base Metals are likely to remain in a range during the rest of the day. Crude Oil is also lower today by 30 cents to trade at 91.57 and Natural Gas is trading at 3.565, down 1.27%. Both the commodities are likely to trade with a negative bias in the evening session.

Key Economic Releases: US Retail Sales MoM and Core Retail Sales MoM