Thursday, 6 March 2014

Commodity Market Update (Natural Gas)

Gold and Silver prices are trading marginally lower with Gold future trading down by 0.33% and Silver is lower by 21.20 at 1335.90 and 21.20 an ounce respectively. The near term outlook remains neutral and we can see prices moving in a tight range for the day. US Jobless data will be the key release to watch and we expect prices to get cue from it. With an exception of LME Nickel all other metals are trading in red with Copper trading at 7015.0, lower by 15 points and Nickel is at 15200.0, adding 65 points as we write this. Crude Oil prices on NYM are trading 101.32, lower by -012% and Natural gas is at 4.59, +1.59. The near term outlook stands bearish for natural Gas while Crude oil prices are likely to recover from the current level.

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