Precious metals are trading higher since morning after its last two session’s steep decline on the back of improved economy. The actively traded Gold Contract is trading in green at $1660.70, up +$7.80 or +0.46% after having tested a high of $1664 on COMEX while Silver rose almost a percent or +30 cents to trade at $31.06 per ounce. On domestic bourses, bullions are restricting to move higher due to a stronger rupee against the dollar. MCX Gold is trading at Rs 30,310, with a marginal decline of -Rs 30.00 or -0.09% and Silver is at Rs 57890.00, up 123 points. LME base metals are trading higher since morning with 3-month Copper futures trading at $8069.00, up $+18.50 while Nickel is leading the metals group, rose +0.64% to trade at $17688.00. On MCX, base metals are trading lower due to a stronger rupee against the dollar. On NYMEX, energy complex are trading mixed with Crude Oil trading at $96.58, higher by 14 cents while Natural Gas is trading in red at $3.25, down by 1.19%. Market participants are waiting for this week Federal Reserve policy meeting and US nonfarm payroll data.
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