Commodity Market Update (Gold)

Precious metals are trading lower since morning as Iran agrees with western countries to limit its nuclear program which reduce the demand for safe heavens. Actively traded Gold contract tested a low of 1225.70 before settling at 1230.70, eased 13.30 points or 1.10% per an ounce while front month Silver futures slashed more than a percent or 0.16 points to trade at 19.665 an ounce. With the exception of Nickel, Base metals area trading lower since morning with Copper trading at 7083.75, down 8.25 points or 0.12% after having tested a low of 7051.25 per metric ton while Zinc tested a low of 1896.00 before settling at 1903.50, down 6.50 points or 0.34%. WTI Crude Oil is plunging over 1.20% or 1.10 points to trade at 93.77 after having tested a low of 93.29 per barrel while Natural Gas is extending its last session’s gain to trade at 3.825, up 0.06 points or 1.51% after having tested a high of 3.849 per mmbtu.