Precious metals are trading lower since morning on the hopes of moderate global growth and may dim the safe heaven demand. The actively traded Gold contract is losing almost half a percent or $8.10 to trade at $1678.60 while Silver futures eased sharply by 1.65% or $0.53 to trade at $31.90 on COMEX. On domestic bourses, Gold is trading at Rs 30598.00 while Silver is trading at Rs 59273.00, down by 600 odd points per kilogram. Base metals are trading lower on LME as IMF lowered its global economic forecast. 3-month Lead is losing most of the ground, lower by 0.46% to $2067.50 while Copper is trading in red at $8077.75, down by 0.31% per metric ton. US Crude Oil is trading in higher after the last session’s steep sell-off due to cut of Oil demand by the US refineries. Light Sweet Crude Oil for near month delivery is trading in green at 95.59, up by 37 cents or 0.38% while Natural Gas is trading at $3.58, gain 0.80% per mmBtu on NYMEX. Oil and Natural Gas trader are waiting for department of Energy’s data which is set to release tonight.
No comments:
Post a Comment