Precious Metals drifting lower today continuing its momentum from last evening; Gold is trading at 1312.30, down 7.30 or 0.55% and Silver is at 19.88, down 0.13 or 0.67%. The bias is negative for bullions today. Base Metals are also lower today – three month LME Copper is down 0.76% at 6964.25 and Nickel is at 14222.0, down 0.70% as this time, base metals are likely to continue moving lower later in the evening. Oil and Gas prices are also down trading at 104.66, down 73 cents and 3.69, down 0.008 cents on NYMEX respectively. We are negative on crude and expect prices to move lower in the evening.
Key Economic Releases: Core Durable Goods Order, Jobless Claims and Natural Gas Storage.
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