Precious metals are trading lower since morning with Gold at 1315, down by 0.90% and Silver is trading at 21.51, -1.59%. The short term outlook remains bearish on Gold and Silver and any recovery in prices may generate selling opportunity in the counter. We can see Gold drifting lower to face a crucial support around 1300.0 key level and break below that will turn overall outlook bearish. Base metals are also trading in red on LME with 3-month Copper rolling contract is at 7178.0, slashed a percent or 71 points at the time of writing this. Nickel is down by 1.08% or 150 points at 13800.0. Crude Oil and Natural Gas Prices on NYM are trading at 103.22 and 3.599, down by 0.37% and 0.08% respectively. The intraday bias remains negative for both the commodities and we can see prices falling further in coming hours. An important support for Crude Oil comes near 103.0 and break below that will lead prices to 101.60 level.
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