Precious metals on COMEX extending their decline as US economic data beat estimates, backing the case for reduced stimulus before the Federal Reserve begins a two-day meeting today. Actively traded Gold contract is losing 0.71% or 9.80 points to trade at 1363.30 while Silver tested a low of 20.965 before settling at 21.07, down a percent or 21 cents an ounce. Base metals prices were trading higher since morning but later on erased some of counters gain and trading mixed as we write this. LME Copper tested a high of 6570.00 before settling in red at 6475.75, down 3 points while Nickel rose a percent or 152 points to trade at 16101.00 per metric ton. WTI Crude Oil is trading higher at 98.31, up 0.24% or 24 cents while Natural Gas is losing 0.60% or 2.7 cents to trade at 4.509 after having tested a low of 4.481 per mmbtu.
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