Precious metals are trading higher today with Gold actively traded contract is trading at 1242.0, up by 0.65% and Silver is at 19.92, adding more than a percent as we write this. The near term outlook remains uncertain as investors are worried ahead of uncertainty over the tapering of Fed’s bond purchase program. However, the intraday view is bullish for Gold and Silver and we expect prices to gain in near term. An important resistance for Gold is around 1250.0 while that for Silver is at 20.20 an ounce. Base metals are trading higher today across the LME with Lead and Aluminum gaining 0.72% each at 2124.0 and 1806.0 respectively. Copper is at 7145.0, nominally up by 0.02% as we write this. Crude Oil and Natural gas on NYM are trading in green with a gain of 0.97% and 0.09% at 98.29 and 4.23 respectively. The short term outlook remains positive for base metals and energy commodities.
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