Tuesday, 9 July 2013

Commodity Market Update (Silver): 9th April, 2013


On CMX, precious metals are trading higher since morning with Gold trading at $1520.20, rose $15.70 or 1.27% while front month Silver futures gained 1.01% or 19 cents to trade at $19.24 after having tested a high of $19.485 an ounce. On LME, base metals are trading lower after the release of China’s Inflation data which showed increased to 2.7% more than the expectation of 2.5%. 3-month Copper contract is losing 1.02% or $69.75 to trade at $6760.75 while Lead lost most of the ground, fell 1.36% or $28.25 to trade at $2046.50 per metric ton. Energy prices are trading lower today, the active Oil future contract is at $102.94, down by 20 cents or 0.20% after having tested a high of $103.40 in the early session, Natural Gas is also trading down since morning at $3.713, down by 0.75%. We expect a range bound session with a negative bias of the day.

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