Precious metals are trading nominally higher with the actively traded Gold contract at 1396.50, higher by 0.25% and Silver is up by 0.65% at 22.39. We expect prices to trade with a positive bias, for Gold resistance is near 1400.00 and 1425.00 while that for silver comes at 22.50 and 23.00 an ounce. Copper prices on COMEX are higher by 1.24% at 3.33 while other base metals across the LME are also trading significantly higher with Nickel added the most by 2.22% at 15168.00 at the time of writing this. Crude Oil and Natural Gas on NYMEX are trading silent with Oil futures at 92.04, higher by just 5 cents and Natural gas is at 3.97, down by 0.24%. Crude Oil and Natural Gas prices are likely to trade range bound for the day.
Data to watch: US ISM Manufacturing PMI
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