Precious metals are trading slightly lower with Gold trading at 1254.90 and Silver is at 19.34, down by 0.40% each. The near term view remains negative and we expect prices to drift lower in the coming hours. An important support for Gold comes around 1240.0 and that for Silver is at 19.0 an ounce. A break below the aforesaid support will extend the downward journey for bullions and we can see prices moving further down in near term. Crude Oil and Natural Gas prices on NYM are trading positive with Crude Oil is at 96.887, +0.46% and Natural is at 5.06, up as much as 3.08% as we write this. Base metals on LME were lower in the initial hours but recovered sharply to trade in green at the time of writing this. Copper is at 7055.0, lower by 0.50% and Lead is at 2114.25, +1.40%. The intraday outlook turned bullish for base metals.
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