Precious metals are trading nominally higher with Gold edging up by 0.12% at 1258.0 and Silver is up by a percent at 20.0 an ounce. The near term outlook remains neutral for Gold and Silver and we expect prices to trade in a range. Macroeconomic releases from US may set direction for prices in the evening sessions. Jobless Claims from DoL US is an important event to watch and is likely to fuel momentum in precious metals. Base metals on LME are trading in tight range with no major changes. Copper is at 7044.0, higher by 13 points and Nickel is trading up by 0.74% at 13920.0 as we write this. Crude oil and Natural Gas on NYM are also trading in green with Crude Oil up by 0.33% and Natural Gas is at 5.20, adding as much as 3.45% as we write this. Natural Gas storage data is due to be released at 9.00 PM today.
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