Precious metals are trading lower since morning on the speculation that Federal Reserve may cut its asset purchasing programme on its next meeting which is scheduled on September 18. Actively traded Gold contract is down 1.77% or 24.10 points to trade at 1339.70 while front month Silver tumbled around 2.5% or 55 cents to trade at 22.62 an ounce. LME base metals are trading down due to a stronger dollar against the other currencies with Copper trading at 7094.00, lower by 70.50 points or a percent while Lead is losing most of the ground to decline 1.08% or 23 points to trade at 2103.00. WTI Crude Oil is gaining to 107.80, up 24 cents or 0.22% per barrel while Natural Gas is trading in red at 3.546, lower by 0.59% or 0.021 points per mmBtu. Traders will be looking for the US initial jobless claims data which is scheduled at 6.00 PM.
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