Tuesday, 2 July 2013

Commodity Market Update (Silver)

Precious metals are trading marginally positive with Gold at $1258.30, up by 0.22% and Silver at $19.61, up by 0.19% at the time of writing this. We expect prices to move in a range with resistance for Gold coming around $1270.00 and that for Silver stands around $20.20 an ounce. On base metals, prices are moving nominally positive with the exception of Copper which is trading at $6954.75, down by 0.12%. We maintain a neutral outlook on base metals and expect prices to trade range bound for the day. Crude Oil and Natural Gas on NYM are trading flat in green with Crude Oil at $98.09 and Natural Gas is at $3.58, up by 0.18% and 0.04% respectively.

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