Thursday 22 November 2012

Commodity Market Update (Crude Oil)



Bullions are trading mixed since morning on CMX, the most actively traded Gold contract is at 1726 with no major changes at the time of writing this. Silver futures for December delivery on COMEX is slightly higher by 0.40% at 33.06, prices are likely to move in a range while traders will be eagerly waiting for the US Jobless data to be released at 7.00 PM. On energy complex, Oil futures are at 85.40, up by 0.75% and Natural Gas is trading at 3.795, down by -0.038 per mmBtu on NYMEX, The Oil and Gas traders will be looking for the inventories and storage data respectively to be released today. Base metals are trading lower across the LME with benchmark three-month Copper lower by 0.85% at 7716.50 and market participants will be eyeing at US DoL releases for finding clues for further move.

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