Monday, 28 January 2013

Commodity Market Update (Gold)

Precious metals are trading flat with the active Gold contract on COMEX is at $1658.30, unchanged since last settlement. Prices are likely to trade in a range with a negative bias for short term however $1655-$1650 may act as a strong support for Gold. Silver is trading lower by half a percent at $31.065, prices are likely to ease further during the evening hours. Base metals prices are slightly higher across the LME, 3-month Copper is trading higher by 0.20% at $8043.00 and other are also trading in green with no major gains. Oil futures on NYMEX is more or less unchanged at $95.98, up by just 0.18% while Natural Gas is at $3.37, lower by 2.27% at the time of writing this.

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