Precious Metals are trading deep in red today after the FED decided to taper the purchasing program by $10 billion a month from next month; gold futures traded on CMX are down 31.40 or 2.55% to 1203.50 an ounce and silver is down 19.27 an ounce, down 80 cents or 3.93%. Domestic gold and silver prices are down 428 points and 1471 to trade at 28436.0 per ten grams and 43871.0 per kilogram respectively. Base Metals are also trading lower with Nickel being the only exception; three month copper futures traded on LME is down 75.0 or 1.035 to 7202.0 per ton. MCX Copper is down 3.50 or 0.76% to trade at 458.05 per kilogram. Crude Oil is trading unchanged at 98.05 whereas prices are up 21.0 or 0.34% to 6134.0 per barrel. Natural Gas is up 1.51% to trade at 4.315 per mmbtu. Metals are likely to trade with a negative bias. Crude Oil and Natural Gas is likely to trade in a range.
Key Economic Releases: Jobless Claims, Existing Home Sales, Natural Gas Storage
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