Precious metals are trading down with Gold trading at 1275.0, lower by 7.3 points or 0.56% and Silver is at 19.22, down 1.55% or 30 cents as we write this. The near term outlook is likely to remain bearish for Gold and Silver as prices are trading below the crucial supports of 1280.0 for Gold and 19.25 for Silver. On base metals, prices are trading in red with Copper down by 0.28% or 20 points at 6977.0. Zinc prices are also lower and performing worst till now; three-month Zinc is at 1848.25, lower 0.25%or 4.5 points. Energy prices are trading mixed on NYM with Crude Oil futures are up by 10 cents at 105.40, with a crucial support at 105.0 and Natural Gas is at 3.31, lower by 0.10%.Oil traders will be looking for weekly inventory report which is scheduled at 8:00 PM with a market forecast of -1.2M while a private agency API released its inventory expectation at -3.7M.
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