Gold prices are trading flat at 1365.0 and Silver is trading down by more than a percent at 22.88 an ounce. Following the short term trend, we expect prices to recover in coming hours and we can see Gold facing resistance around 1375.0 and Silver around 23.50 level. Base metals on LME are trading in red with Lead at 2227.0, down by 0.80% and Copper is lower by 0.60% at 7272.0. Intraday price action is likely to remain bearish on base metals as prices may witness correction after a sharp rally in its last session. Crude Oil and Natural Gas prices are trading mixed on NYMEX, Crude Oil is down by 86 cents at 106.24 and Natural Gas is trading up at 3.465, +0.06% as we write this.
Traders remain cautious ahead of FOMC Meeting Minutes, scheduled tomorrow at 11.30 pm.
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