Commodity Market Update (Gold)

Precious metals are trading lower with Gold actively traded contract is at 1326.0, lower by 10 points or 0.75% and Silver is at 20.20, lower by more than half a percent as we write this. The near term outlook remains negative and we can see prices drifting lower in the following days. Base metals were trading lower since morning due to weaker than expected manufacturing data from the world largest industrial metal users but later on recovered some of losses and trading mixed as we write this. 3-month Copper tested a low of 6419.75 before settling at 6469.25, down 11 points while Nickel is up 81 points or 0.50% to trade at 16150.00. WTI Crude Oil is trading silent at 99.58, up 0.12 points while Natural Gas is up 0.56% to trade at 4.337 after having tested a high of 4.35 per mmBtu.