Commodity Market Update (Copper)

Bullions are trading positive since morning; the active Gold contract on COMEX is at 1736.40, higher by 10.20, or 0.60% and Silver futures are at $32.35, up by 11 cents or 0.36%. Gold prices are expected to remain higher in short term with a strong resistance near 1800 level. Silver futures is also likely to trade positive, prices may face resistance near 33.20 above which it move further to a possible target of 35.40, near to the early October high. Base metals on LME are trading slightly lower at the time of writing this; Copper is trading at 7600, down by 47.00 or 0.60% followed by other base metals. On Energy section, Oil futures is trading flat or nominally lower by 10 cents or 0.07% at 85.00 and Natural Gas is trading lower by one and half percent or 5 cents at 3.5570.