Monday, 24 December 2012

Commodity Market update (Gold)

Gold and Silver are slightly positive following the recovery of last week’s sharp decline. The most actively traded Gold is at $1665.30, up by $5.30 or 0.32% and Silver near month contract is trading higher by 0.54% or 16 cents at $30.365 per ounce on COMEX. Base metals across the LME are trading in red while 3-month Aluminum is the only metal to trade positive by 0.36% at $2090.00. Three-month Nickel is the worst performer, at $17290, down by 0.66% while Copper is trading at $7832.00, down by 14 points of 0.16%. On energy complex, prices are trading lower with NYMEX Crude Oil futures at $88.50, down by just 0.10% and Natural Gas is at $3.41, down by almost a percent. We expect prices to trade in range with a negative bias for the day.

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