On CMX, precious metals are trading lower since morning to continue its last session steep decline weighed by a better than expected Non-Farm Employment data. Actively traded Gold contract is losing $5.30 or 0.38% to trade at $1377.70 after having tested a low of $1375.60 whereas Silver futures plunged more than a percent or 25 cents to trade at $21.49 an ounce. Near term view on precious metals is bearish with next Support for Gold comes at $1360.00 and that for Silver comes at $21.25. On LME, base metals fell drastically during the morning hours with Copper trading at $7156.00, -1.09% or -$78.75 along with all other metals. We expect base metals to trade lower with a negative bias for the day. Crude Oil and Natural Gas futures on NYM is trading in red with Oil contract at $95.65, down by 0.40% and Natural Gas is at $3.82 almost unchanged since last closing.
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