Commodity Market Update (Silver)

Precious metals are trading lower with the front month contract trading at 1255.10; lower by 0.66% and Silver is at 19.76 an ounce, lower by -0.14% as we write this. The near term outlook remains negative and we expect prices to drift lower in the following sessions. Prices on domestic market are also lower by more than a percent as a weaker stronger rupee had weighed on prices to ease down in the past hours. Base metals on LME are trading mixed since morning with Copper trading at 7170.25, up 13.25 points while Lead is losing 0.67% or 14.50 points to trade at 2140.00 per metric ton. WTI Crude Oil is adding half a percent or 51 cents to trade at 96.23 per barrel. NYMEX Natural Gas is rising after the last session’s steep sell off and move up on the back of cooler weather forecast. Front Month Natural Gas is trading at 5.0, jump by 3% or 15 cents per mmbtu.