Friday, 4 April 2014

Commodity Market Update (Copper)


Precious metals are trading higher today with Gold trading up by 0.50% at 1292.20 an ounce and Silver is at 19.93, adding 0.58% as we write this. The near term outlook remains neutral for Precious metals and we can see prices drifting in a tight range for the day. Gold prices are trading near an immediate resistance and a close above this will lead prices to 1310.0 level. Silver is also likely to take cue from Gold. Base metals on LME are trading in green with Nickel recording the maximum gain to add 1.46% and are at 16520.0 while all other meals are trading higher almost half a percent each. Copper prices are at 66758.0, +38 points or 0.57% as we write this. Crude Oil and Natural Gas prices on NYM are at 101.05 and 4.41 respectively. Crude Oil is up by 0.76% while Natural gas is lower by 1.34%. Intraday bias is positive for Crude Oil while that for Natural Gas seems negative.
Photo: Commodity Market Update (Copper):
Precious metals are trading higher today with Gold trading up by 0.50% at 1292.20 an ounce and Silver is at 19.93, adding 0.58% as we write this. The near term outlook remains neutral for Precious metals and we can see prices drifting in a tight range for the day.  Gold prices are trading near an immediate resistance and a close above this will lead prices to 1310.0 level. Silver is also likely to take cue from Gold. Base metals on LME are trading in green with Nickel recording the maximum gain to add 1.46% and are at 16520.0 while all other meals are trading higher almost half a percent each. Copper prices are at 66758.0, +38 points or 0.57% as we write this. Crude Oil and Natural Gas prices on NYM are at 101.05 and 4.41 respectively. Crude Oil is up by 0.76% while Natural gas is lower by 1.34%. Intraday bias is positive for Crude Oil while that for Natural Gas seems negative.

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