Thursday, 17 October 2013

Commodity Market Update (Natural Gas)

Precious metals are trading positive as prices recovered sharply during the last hours. The most actively traded Gold contract is at 1306.90, up by 25 points or almost 2% along with Silver which is similarly higher to trade at 21.79 an ounce. The near term outlook remains uncertain for bullion and traders are looking for US weekly Jobless claims and Philly Fed Manufacturing Index which are due to be released later today. Base metals are trading lower since morning with 3-month Lead led the declines in industrial metals and is trading down by 0.95% at 2148.0. 3-month Copper is also lower by 0.80% to trade at 7207.0 as we write this. Intraday bias remains negative and we can see prices moving lower in coming hours. Crude Oil and Natural Gas on NYM are trading mixed with Crude Oil trading at 101.73, down by 0.56% and Natural Gas is lower by up by 0.42% at 3.78.

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