Wednesday 28 May 2014

Commodity Market Update (Silver)

Precious metals on CMX are trading lower since morning due to Ukraine tension weighed. Actively traded Gold contract is trading at 1284.00, down 7.70 points or 0.60% after having tested a low of 1281.80 while Silver tested two weeks low of 19.245 before settling at 19.285, down 0.71% or 14 cents an ounce. Base metals are rallying on the London Metal Exchange on the expectation of increased demand from China. 3-month Zinc is leading the group, up 10 points or half a percent to trade at 2091.00 and Copper tested a 11 weeks high of 6966.00 before settling at 6935.50, up 22 points or 0.32%, followed by rest of the metals. WTI Crude Oil is retreating from its five week high and trading in red at 104.08, down  0.26% or 27 cents while Natural Gas is trading at 4.392 with a meager decline of a cent per mmbtu. 

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