Commodity Market Update

Precious metals are trading flat with Gold trading at 1253.70, +0.03% or 4 cents and Silver is at 19.09, +0.04% as we write this. The near term outlook seems to turn positive for Gold and Silver and we can see prices edging higher in near term. Crude Oil and Natural Gas on NYM are also trading with a positive bias with Crude Oil is at 102.68 and Natural Gas is at 4.71, adding 0.23% and 0.23% respectively. Base metals on LME are in red with Copper leading the laggards witnessing decline a percent or 73 points at 6710.0 and Lead is at 2086.0, down by 0.8% at the time of writing this. The short term bias is negative for base metals.