Wednesday, 9 January 2013

Commodity Market Update (Crude Oil)

Gold futures on COMEX are trading flat at $1662.90, with no major change at the time of writing this and Silver is at $30.45 just down by few cents, we expect prices to remain lower range bound with a negative bias for the day. Base metals on LME are trading in green with a range bound movement for the day, prices are trading stable as there is no major economic release from the US or any other top economy that can drive prices. On energy complex, Oil futures are trading down by 0.14% at $93.02 while traders are waiting for the US Inventory data to be released later today.

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