Precious metals are trading lower since morning due to ongoing uncertainty over the US government shutdown and the upcoming debt ceiling debate. Actively traded Gold contract is losing a percent or 13.20 points to trade at 1311.30 while front month Silver futures tested a low of 22.03 before settling at 22.14, down 1.35% or 0.30 points an ounce. Base metals are trading higher since morning, except Copper which is down more than half a percent or 36.80 points to trade at 7194.75 after having tested a low of 7165 per metric ton. WTI Crude Oil is trading almost flat at 103.46, down 0.03 points a barrel after swinging between gains and losses while Natural Gas is trading in green at 3.73, up a cent or 0.35% per mmBtu. Oil traders are looking for EIA’s Crude Oil Inventories report which will be released tonight at 8.00PM with a market forecast of 0.9 Mbd against the previous week of 5.5 Mbd.
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