Monday, 26 August 2013

Commodity Market Update (Gold)

Gold prices on COMEX are trading marginally higher with the recent delivery Gold contract trading at 1395.80, up by 10 cents and Silver is up by 1.46% at 24.08 at the time of writing this. The near term outlook remains positive for Gold and Silver and we expect prices to trade higher in coming hours. Base metals are trading in a narrow range with Copper on MCX trading at 476.45, up by 0.33% and other metals are also similarly up today. LME is closed today in observance of Summer Bank holiday. Crude Oil and Natural Gas prices are trading in green with Oil front month contract trading at 106.60, +0.15% and Natural Gas is at 3.54, up by 1.64% On NYMEX. We expect prices to trade in a narrow range with a positive bias for the day.

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