Commodity Market Update (Natural Gas)

Precious metals on COMEX are trading higher since morning as Federal Reserve’s chairman nominee Janet Yellen backed stimulus until the economy and labor market improves. Actively traded Gold contract rallied to a high of 1288.20 before settling at 1283.70, up 1.21% or 15.30 points while front month Silver futures surged 1.56% or 0.32 points to trade at 20.76 after having tested a high of 20.885 an ounce. WTI Crude Oil is trading silent at 93.81 before the release of US Crude Oil Inventories report while Natural Gas is losing almost a percent or 0.03 points to trade at 3.537 per mmBtu. Base metals prices on LME were trading lower but later recovered their losses and are trading almost flat as we write this. 3-month Copper tested a low of 6965.00 before settling at 6987.50 while Nickel is down 28 points or 0.20% to trade at 13755.00 per metric ton.