Wednesday, 19 December 2012

Commodity Market Update (Crude Oil)

Precious metals are trading mixed with Gold trading at $1675.00, up by 5 points or 0.29% and Silver is higher by 0.26% at $31.75. On base metals prices are trading in red; three-month Copper is at $7998.25, trading below the key level of $8000.00. Metals are showing signs of weakness against the key resistance level and are likely to remain lower in coming session. On energy complex, Crude is trading flat at $88.60, added just 0.20% while Natural Gas is trading lower by almost 2% at $3.352.

On the dataflow, Traders will be looking for US Building Permits, Housing Starts and Crude Oil inventories to be released today.

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