Gold and Silver are trading slightly lower since morning on COMEX, the actively traded contract is at $1725.00, down by $5.5 or 0.30% while Silver near month contract is at $32.67, lower by 21 cents or 0.64%. Gold prices may test intraday support around $1720.00, below which prices may test its next support around $1705.00 in short term. Silver prices are also likely to trade lower, finding further clues from the US macroeconomic releases to be released later in the day. Base metals are trading mixed, shuffled between modest gains and losses as traders are cautious amid the uncertainty over the economic health of the top countries. On energy Complex, Crude Oil is trading silent at $86.37, up by meager 0.06% while Natural Gas is trading higher by 3 cents or $3.79 per mmBtu on NYMEX.
Data to Watch:
US Jobless Claims
US Philly Fed Manufacturing Index
US Crude Oil Inventories
US Natural Gas Storage
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