Commodity Market Update (Crude Oil)

Precious metals on CMX are trading lower since morning on speculation that Federal Reserve will further reduce US monetary stimulus. Actively traded Gold contract is losing around half a percent or 7 points to trade at 1292.00 after having tested a low of 1289.40 while Silver futures tested a low of 19.30 before settling at 19.36, down 1.16% or 23 cents an ounce. Base metals are trading mixed with Copper trading at 6729.00, down 1.25 points and Aluminum is losing 0.67% or 12.25 points to trade at 1805.00 whereas Nickel and Zinc is trading in green. WTI Crude Oil is trading lower on the expectation that Oil stockpiles may gain by 1.3 Mbd. Light Sweet Crude Oil futures declined a percent or 98 cents to trade at 100.31 per barrel while Natural gas is trading silent at 4.819 with negative bias, down 0.25% or a cent per mmbtu.