Commodity Market Update (Gold):

Precious metals are trading silent since morning on COMEX, the actively traded Gold contract is at $1712, up by just 60 cents and prices on domestic market are trading higher by 50 points at Rs.31070.00. Silver prices are at $31.94, lower by 0.30% or 9 cents and are likely to trade in a range with a negative bias for the day. Copper is at $7724.25, down by 1.24% on LME, as the slower economic activity in China is restricting prices to move higher; $7400.00 seems to be a strong support for Copper prices below that prices may decline to $6500 in long term. On energy complex, Crude Oil is trading lower by a percent at $85.48 while Gas is trading at $3.396, down by 0.12%

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