Precious metals surged higher today following the unchanged monetary policy by the Fed. The most actively traded Gold contract finished higher by 54 points or 4.16% at 1362.0 and Silver jumped 6.36% or 1.37 points to trade at 22.9 at the time of writing this. We expect prices to remain positive in coming hours and expect gold to retest the high of 1375.0 and Silver may take cue from it. Base metals are trading in green with Copper trading at 7321.0, adding 116 points or 1.61% and Aluminum is up by 2% at 1825.0. The Intraday bias remains positive for Base metals. Crude Oil and Natural Gas prices on NYMEX are trading firm with Crude Oil trading at 108.70, up by 0.59% and Natural Gas is trading at 3.74, higher by 0.78%. We expect a minor correction in Crude oil while Natural Gas is likely to remain positive with traders looking for storage data which is due to be released later today.
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