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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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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