Precious metals on CMX are trading in a small range since morning with Gold trading at 1341.40, down 1.20 points while Silver is trading at 21.945 with a marginal decline of 0.08% an ounce. Base metals are trading higher due to weaker dollar against the other currencies. 3-month Zinc is leading the industrial metals, gain 0.66% or 13.50 points to trade at 2058.50 while Copper tested a high of 7083.50 before settling at 7074.00 per metric ton, followed by rest of the metals. WTI Crude Oil is rebounding from its one week low of 101.58 and trading in green at 102.23, up 40 cents or 0.40% as we write this. Actively traded Natural Gas contract is trading at 4.912, plunge over 3.61% or 18.5 cents per mmbtu.
On data front, base metals traders are waiting for US New Home Sales and Oil traders are waiting for EIA’s Crude Oil Inventories report.
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