Friday, 11 October 2013

Commodity Market Update (Copper)

Bullion prices are trading lower today on CMX with the near month Gold contract eased almost a percent or 12 points to 1285.0 and Silver is trading at 21.48, -1.90%, at the time of writing this. The near term outlook remains bearish for precious metals and we can see prices drifting lower in coming hours. Base metals on LME are trading in green today; Lead is the top performer to gain almost a percent at 2100.0, followed by rest of the metals. Copper is up by 0.25% at 7165.0. Crude Oil on NYM is trading lower while Natural gas is trading positive since morning. The near month Crude Oil contract is at 101.75, down by 1.19% while Gas prices are at 3.75, +0.91%, as we write this. Intraday view on Crude Oil remains negative and we can see prices testing support around 101.20 per barrel.

No comments:

Post a Comment