Commodity Market Update (Gold)

Precious metals are trading lower today with Gold trading at 1238.0, lower by a percent or 12 points and Silver is at 19.70, -1.70% or 33 cents as we write this. The near term outlook remains lower and we expect prices to drift lower in coming sessions. Crude Oil and Natural Gas on NYM are at 92.82 and 3.92 respectively with Crude Oil is up by 0.11% and Natural Gas is down by 0.76%. With the exception of Aluminum all other metals on LME are trading in red with Lead trading at 2065.0, lower by 10 points and Copper is at 7010.0, down by 0.28%. Aluminum is trading flat with no major changes since last close at 1745.25. Intraday Bias remains negative for base metals.