Precious metals are trading slightly lower today with Gold trading at 1216.10, -0.38% or 5 points and Silver is trading at 19.04, lower by 0.16% as we write this. The near term outlook remains negative and we expect prices to move lower in the coming session. Traders will be looking for macroeconomic releases from US which are scheduled tonight and may set somedirection for the precious metals. ADP Non-farm Employment Change and ISM Non-Manufacturing PMI are the important releases. Base metals are trading marginally higher across the LME with Copper leading the gains by 0.31% at 6976.0, followed by all other metals which are up around 0.25% each. Prices on NYM are trading mixed with Crude Oil at 97.23, up by more than a percent as API a private agency forecasted that the crude oil inventory shrank by 12.4 MBD in the last week. Natural Gas prices are trading in negative with a decline of 0.18% at 3.96 per MMBTU.
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