Commodity Market Update (Silver)

Precious metals are trading lower since morning, the most actively traded Gold contract is at 1707.60, lower by 13.5 or 7.8% and Silver futures are down by 1.11% or 37 cents and trading at 33.38 on COMEX. Prices are likely to trade mixed with no clear direction amid a bunch of major macroeconomic releases due this week. On LME Copper is trading flat at 8015 after its last few days significant gains while other metals are in red, 3-month Zinc is the worst performer to trade down by 0.92% at 2023.00, the short term outlook for Copper is screwed positive as traders are more looking for the increasing physical demand from the China. Oil and Gas prices are trading in red, with near month Crude is at 89.04 down by a meager 6 cents and Natural Gas is at 3.579, down by 0.33%.