Thursday 13 March 2014

Commodity Market Update (Silver)

Precious metals are trading positive with the most actively traded Gold trading up by 0.17% at 1372.0 and Silver is at 21.43 an ounce, adding 0.34% or just 7 cents. The intraday outlook remains positive and we can see prices moving higher in near term. Intraday resistance for Gold is around 1380.0 while that for Silver is at 22.00 level. Base metals are trading down today, 3M Copper on LME is at 6437.0 which is lower by almost a percent, followed by all other metals. Nickel is the only metal to trade in green with nominal gains of 0.19% at 15704.0 as we write this. Intraday bias is negative on base metals. Crude Oil and Natural Gas futures are at 97.91 and 4.45 levels, Crude Oil is lower by 0.08% and Natural Gas is down by 0.69% at the time of writing this. Short term bias is negative on Crude Oil and Natural Gas.
Data to watch: US Core retail sale, retail sales, Unemployment Claims
Photo: Commodity Market Update (Silver):
Precious metals are trading positive with the most actively traded Gold trading up by 0.17% at 1372.0 and Silver is at 21.43 an ounce, adding 0.34% or just 7 cents. The intraday outlook remains positive and we can see prices moving higher in near term. Intraday resistance for Gold is around 1380.0 while that for Silver is at 22.00 level. Base metals are trading down today, 3M Copper on LME is at 6437.0 which is lower by almost a percent, followed by all other metals. Nickel is the only metal to trade in green with nominal gains of 0.19% at 15704.0 as we write this. Intraday bias is negative on base metals. Crude Oil and Natural Gas futures are at 97.91 and 4.45 levels, Crude Oil is lower by 0.08% and Natural Gas is down by 0.69% at the time of writing this. Short term bias is negative on Crude Oil and Natural Gas.
Data to watch: US Core retail sale, retail sales, Unemployment Claims
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