Monday, 28 October 2013

Commodity Market Update (Gold)

Precious metals on CMX are trading flat with Gold trading marginally higher at 1352.60, up by 10 cents or 0.01% and Silver is higher by 0.16% at 22.67 an ounce. Intraday outlook remains positive and we can see prices gaining in coming hours. Base metals on LME are trading in green with Aluminum leading the gaining counters with a gain of 1.16% at 1899.0 and Copper is at 7220.0, +0.50% as we write this. We expect prices to trade in a range with a positive bias for the day. Crude Oil and Natural gas prices are trading mix with Crude Oil is marginally higher by 0.15% at 97.80 while Natural Gas is sharply down by 2.45% at 3.61. Natural Gas prices are likely to extend its decline and we can see prices drifting lower in the coming sessions.

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