Monday, 16 December 2013

Commodity Market Update (Gold)

Precious metals on COMEX are trading lower since morning as holdings in the ETF funds slumped 31% since January 2013. Actively traded Gold contract is losing 6.10 points or half a percent while Silver prices dropped 0.68% or 0.134 points to trade at 19.47 an ounce. With the exception of Aluminum, Base metals are trading higher since morning due to weaker dollar against the other currencies. 3-month Lead and Zinc are top gaining counter among the group, up around 0.75% to trade at 2166.00 and 1986.25 respectively while Copper tested a high of 7288 before settling at 7274.00, up 0.40% or 28.75 points per metric ton. WTI Crude Oil is trading at 97.21 with a nominal gain of 28 cents while NYMEX Natural Gas tested a low of 4.251 before settling at 4.297, down 1.24% or 0.054 points as traders locked their profits after the last two weeks steep rally to seven months high.

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