Friday, 8 November 2013

Commodity Market Update (Copper)

Precious metals are trading in a tight range with Gold and Silver recording minor gains as we write this. The actively traded Gold is at 1310.0 and Silver is at 21.65, +0.13% each. The near term outlook remains bearish and we expect prices to ease in the following sessions. Crude Oil and Natural Gas on NYM are at 94.50 and 3.54 respectively. Crude Oil is up by 0.32% and Natural Gas is up by 0.82%. Prices are range bound and we can see prices trading flat for the day. On base metals, prices are trading mixed with Copper and Zinc gained 0.38% and 0.13% to 7165.0 and 1096.0 respectively while other three metals are trading in red. Nickel was down by 0.45% to trade at 13977.0.

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