Tuesday, 15 January 2013

Commodity Market Update (Silver)

Precious Metals are trading higher today, with active Gold contract is at 1681 up by 0.7% and Silver futures is at 31.32 that is higher by 0.7% on COMEX. We expect prices to trade positive with Gold resistance near 1700 level and Silver can possibly test 32.50 in coming session. On base metals, prices are trading mixed with Nickel and Zinc trading higher while other metals are in red. Three-month Copper is trading lower by 0.3% at 7977 on LME at the time of writing this. NYMEX Oil prices are trading flat with a minor gain of just 0.1% while Natural Gas contract is trading down by almost 3 cents at $3.347.

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