Thursday, 23 January 2014

Commodity Market Update (Natural Gas)

Precious metals on CMX are trading lower since morning with Gold trading at 1237.50, down 1.10 points or 0.09% after having tested a low of 1230.80 while Silver is down 0.17%to trade at 19.805 an ounce. Bullion prices are heading towards the longest losing streak in a month, as expectations that the US Federal Reserve may again cut its stimulus. Base metals on LME are losing since morning due to weaker than expected manufacturing data from China. 3-month Nickel was top losing counter among the group, down 1.05% or 156 points to trade at 14640.00 while Copper tested a low of 7258.00 before settling at 7263.00, down around half a percent or 35 points, followed by the rest of the metals. WTI Crude Oil is trading almost flat at 96.68 after the last night’s steep gain while Natural Gas is extending their rallies to fresh two years high to trade at 4.773, up 1.73% or 0.08 points per mmbtu.

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