Thursday, 28 November 2013

Commodity Market Update (Natural Gas)

Precious metals are trading higher today with Gold trading at 1242.0, up by 0.35% and Silver is at 19.70, adding 0.30% at the time of writing this. We expect prices to trade in a range for the day with a negative bias. Base metals prices are trading nominally lower with Cooper trading at 7009.0, down by 0.05% with an important support at 7000.0 and a break below this level will lead for further selling in the metal. All other metals are also trading in red, following Copper. Crude oil and Natural Gas on NYMEX are trading lower with the front month oil contract is at 92.19, -0.12% and Natural Gas is at 3.87, lower by 0.46%. Intraday bias remains negative for both Crude oil and Natural Gas.
US Banks are closed in observance of Thanksgiving Day.

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