Monday, 1 July 2013

Commodity Market Update (Gold)


Precious metals are trading positive today with the most actively traded Gold contract on CMX is trading at $1241.50, up by 1.45% and Silver is at $19.68, higher by 1.10% at the time of writing this. Gold prices are trading near the resistance zone of $1250.00 and if prices manage to sustain above that we can see, prices moving higher with next resistance around $1290.00 an ounce. On base metals, Prices are trading positive across the LME with Copper leading the gaining counters by 1.70% at $6880.00 followed by all other metals. We expect base metals prices to trade positive in coming hours with next resistance for Copper coming at $6950.00. On energy section, Crude Oil and Natural Gas prices are trading at $96.75 and $3.58, higher by 0.20% and 0.62% respectively.
Data to Watch:
ISM Manufacturing PMI

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