Commodity Market Update (Gold)

On CMX, precious metals are trading lower with Gold at $1691.50, down $5.50 or 0.33% an ounce while front month Silver is trading in red at $32.25 with a nominal decline of 4 cents or 0.14%. US Crude Oil futures is trading flat at $86.71 with a negative bias whereas actively traded Natural Gas contract fell more than half a percent before settling at $3.29 on NYMEX. On LME, base metals are trading lower since morning with three-month Copper is trading at $8049.50; down by 0.30% or $24.00 per metric ton while Aluminum is losing most of the ground, fell 0.40% to $2117.75 per metric ton. Traders will be waiting for ECB President Draghi’s speak on Europe’s economic and monetary affairs.