Precious metals on CMX heading towards four month high as Middle East tension spurred demand for safe heavens and weaker dollar after the FOMC Meeting Minutes. Actively traded Gold contract rallied to a high of 1345.90 before settling at 1343.70, jumped around 1.5% or 19.40 points and Silver is trading at 21.56, surging around 2.30% or half a dollar after having tested a high of 21.615 an ounce. Base metals continued their last session’s decline on LME. Copper declined around half a percent or 29.25 points to trade at 7087.75 while Nickel is losing most of the ground, down around a percent or 185 points to trade at 19215.00, followed by rest of the metals. WTI Crude Oil is losing 0.40% or 41 cents to trade at 101.88 after having tested a low of 101.61 while Natural Gas is trading flat at 4.174 per mmbtu.
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Thursday, 10 July 2014
Commodity Market Update (Natural Gas)
Precious metals on CMX heading towards four month high as Middle East tension spurred demand for safe heavens and weaker dollar after the FOMC Meeting Minutes. Actively traded Gold contract rallied to a high of 1345.90 before settling at 1343.70, jumped around 1.5% or 19.40 points and Silver is trading at 21.56, surging around 2.30% or half a dollar after having tested a high of 21.615 an ounce. Base metals continued their last session’s decline on LME. Copper declined around half a percent or 29.25 points to trade at 7087.75 while Nickel is losing most of the ground, down around a percent or 185 points to trade at 19215.00, followed by rest of the metals. WTI Crude Oil is losing 0.40% or 41 cents to trade at 101.88 after having tested a low of 101.61 while Natural Gas is trading flat at 4.174 per mmbtu.
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