Thursday, 27 June 2013

Commodity Market Update (Natural Gas)

Bullion price are trading flat after falling significantly in the past sessions. The near month Gold contract is trading at $1229.30 with a meager decline of just 5 cents and Silver prices are at $18.62, up by 0.09% at the time of writing this. Near term price action is likely to remain negative and traders are suggested to avoid risky longs from the current level. Traders will be looking for the US Unemployment Claims report to be released by the Dept. of Labor at 6.00 PM. Base metals on LME are trading in green, the three-month Copper is at $6775.00, up by 0.60% and Nickel is recording the maximum gain for the day at $13820.00, higher by 1.39%. On NYM, Crude Oil is trading higher while Natural Gas is trading down; the near month Crude Oil contract is at $95.85, up by 0.37% and Natural gas is at $3.72, down by 0.40% at the time of writing this. Traders are waiting for the release of Natural Gas storage report which is scheduled at 8.00 PM today.

No comments:

Post a Comment