Friday, 28 December 2012

Commodity Market Update (Copper)

Precious metals are trading slightly lower, with the near month Gold futures at $1661.00 trading lower by just $2.7 and Silver futures are at $30.11, down by 0.41% or 12 cents at the time of writing this. Market volumes are light as traders are waiting sideline ahead of US fiscal cliff and traders areaway on year-end holiday. Base metals are trading lower with 3-month Copper on LME is the only one to be slightly positive by a meager $4 at $7922.00 while other are trading into red. NYMEX Oil futures are flat, at $90.91 while Gas prices are down by 1.29% or 4 cents at $3.3680. We expect volatility during the evening session ahead of US Oil Inventories and Gas Storage Data. -

Data to watch:
Pending Home Sales
Crude Oil Inventories
Natural Gas Storage

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