Commodity Market Update (Silver)

Precious metals are trading firm today, extending its last sessions sharp gain with the most actively traded Gold contract is at 1334.50, higher by just 30 cents and Silver front month contract is at 21.61, up 1.27% or 27 cents at the time of writing this. We expect prices to continue its recent gains for the day. On domestic bourses, bullion prices are also trading in green with Gold up 40 point at 28962.0 and Silver at 46500.0, up by 640 points. India raises import duty for both Gold and Silver to 10% from 8% and 6% respectively had also supported domestic prices to trade in green. Base metals prices on LME are trading bullish with Copper trading up by a percent at 7340.0 and Nickel is higher by 1.15% at 14905.0. The short term outlook on base metals remains positive or the day. Crude Oil and Natural Gas prices on NYM are also trading positive with Crude Oil up by 85 cents at 106.96 and Natural gas at 3.32, +0.45%. Bias for energy complex remains positive for today.
Data to watch: US Retail Sales m/m and US Core Retail Sales m/m