Commodity Market Update (Silver)

Precious metals are trading nominally higher today, with the most actively traded Gold contract closed at 1245.20, up by 0.10% and Silver is trading at 18.81 an ounce, adding 0.38% as we write this. The near term outlook seems negative for precious metals and we can see prices drifting lower in the coming sessions. Crude oil and Natural Gas on NYM are in red with declining around 0.20% and 0.39% respectively. Crude Oil is trading at 102.27 and Natural Gas is at 4.59 at the time of writing this. Base metals eased sharply lower in the past hours, Nickel leading the laggards with a decline of 1.15% or 223 points at 19217.0 and Copper is at 6868.25, lower by 0.84%. Intraday bias is negative and we can see prices trading lower in upcoming hours.