Wednesday, 13 November 2013

Commodity Market Update (Crude Oil)

Gold and Silver prices were trading lower in the first couple of hours but later on recovered and trading almost flat as we write this. Actively traded Gold contract tested a low of 1265 before settling at 1274.50, up 3.30 points or 0.26% while front month Silver is trading almost flat at 20.77 after having tested a low of 20.615 an ounce. Base metals prices are trading lower since morning and continued their last session’s steep decline on concerns that plans for broad reforms in China which could slow economic growth in the world's top copper consumer. 3-month Copper is trading near two months low at 7040.75, down 0.83% or 59.25 points followed buy rest of the metals. WTI Crude Oil is trading higher after the last night steep decline. Oil prices is up 0.27% or 0.25 points to trade at 93.29 while Natural Gas is trading at 3.633, up almost half a percent or 0.016 points per mmBtu.

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