Friday, 21 March 2014

Commodity Market Update (Copper)

Gold and Silver are advances since morning after the last three sessions steep sell-off, supported by Federal Reserve’s stimulus cut. Actively traded Gold contract is gaining almost half a percent or 6.40 points to trade at 1336.90 after having tested a high of 1341.10 while Silver tested a high of 20.56 before settling almost flat at 20.46 with a meager gain of 0.15% an ounce. With the exception of Aluminum, Base metals are trading higher since morning with Copper trading at 6457.50, up 5 points while Nickel is up 127 points or 0.80% to trade at 15990.00 and leading the industrial metals group. WTI Crude Oil was trading lower in the early morning session but later on recovered its losses and trading in green at 99.06, up 16 cents while Natural Gas is trading in red at 4.353, down 0.37% after having tested a low of 4.303 per mmbtu.

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