Precious metals are trading flat with Gold contract trading nominally lower by just 40 cents or 0.03% at $1283.20 and Silver is lower by 0.20% at $19.80 at the time of writing this. We expect bullion prices to trade lower for the day with an important support for Gold coming around $1275.00 and that for Silver arises at $19.70 an ounce. With exception of LME Copper all other base metals across the LME are trading down with Aluminum recording the maximum decline of 0.85% at $1794.25, followed by Zinc and Lead. Copper prices are trading at $6948.75, up by $10.00 or 0.15%. Market participants will be looking for the monthly release of US CPI and Core CPI data which are scheduled today at 6.00 PM. On NYMEX, Crude Oil and Natural Gas prices are trading in a tight range with Oil prices at $105.95, up by just 2 cents while Natural Gas prices are slightly down by 0.03% at $3.67 per mmbtu. We expect energy prices to trade in a range with a negative bias for the day.
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