Friday, 28 June 2013

Commodity Market Update (Copper)

Precious metals on CMX are trading down today with the most actively traded Gold contract is at $1201.0, lower by 10 points or 0.80% while Silver is at $18.8, up by 24 cents since morning. View on Gold and Silver remains negative with Gold prices are likely to test support around $1180.0 and Silver's support comes at $18.0 level. Crude Oil and Natural Gas prices on NYM are trading at $97.6 and $3.6, higher by 0.60% and 0.85% respectively. We expect Oil prices to remain positive while Natural gas prices are likely to remain range bound for the day. Base metals across the LME are trading down with three-month Copper is trading at $6765.0, added 0.43% till now while rest of the metals are moving in a narrow range with nominal changes. On data front, there are no major releases for the day.

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