Precious metals on COMEX are losing since morning and continue their last session’s decline due to improving US economy and a stronger which cut the demand for the safe heavens. Actively traded Gold contract tested a week low of 1295.20 before settling at 1297.60, down 7.10 points or 0.54% and Silver futures fell more than half a percent or 12.5 cents to trade at 20.87 an ounce. Base metals are rallying since morning due to better than the expected manufacturing data from China. 3-month Copper is leading the bucket, adding 1.20% or 83.75 points to trade at 7133.00, followed by rest of the industrial metals which are gaining more or less a percent each. WTI Crude Oil is trading down at 102.75, down 0.37 points or 0.36% while Natural Gas is trading in green at 3.77 with a marginal gain of 0.24% per mmbtu.
Thursday, 24 July 2014
Commodity Market Update (Natural Gas)
Precious metals on COMEX are losing since morning and continue their last session’s decline due to improving US economy and a stronger which cut the demand for the safe heavens. Actively traded Gold contract tested a week low of 1295.20 before settling at 1297.60, down 7.10 points or 0.54% and Silver futures fell more than half a percent or 12.5 cents to trade at 20.87 an ounce. Base metals are rallying since morning due to better than the expected manufacturing data from China. 3-month Copper is leading the bucket, adding 1.20% or 83.75 points to trade at 7133.00, followed by rest of the industrial metals which are gaining more or less a percent each. WTI Crude Oil is trading down at 102.75, down 0.37 points or 0.36% while Natural Gas is trading in green at 3.77 with a marginal gain of 0.24% per mmbtu.
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