Friday 27 September 2013

Commodity Market update (Copper)

Precious Metals are trading marginally lower with Gold trading down by 0.13% at 1322.70 and Silver is lower by a percent at 21.5 an ounce, at the time of writing this. The near term outlook remain bearish and we can see prices falling down in coming hours. 1310.0 is a good support for Gold while that for Silver comes near 21.30 an ounce. Base metals are trading flat with meager changes; three-month Copper is at 7253.0, down by 0.06% while Nickel is up by 0.35% at 13864. Crude Oil prices on NYM are trading lower today, the front month contract is at 102.40, lower by 0.60% and Natural Gas is at 3.56 with no change, at the time of writing this. Bias for Crude Oil and Natural Gas remains negative for the day.

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