Precious metals on CMX are trading higher since morning due to weaker than the expected China’s service PMI which spurred safe heavens demand. Actively traded Gold contract is gaining 4.20 points or 0.33% to trade at 1292.50 while Silver tested a high of 20.29 before settling at 20.255, up 0.11% or 0.02 points an ounce. WTI Crude Oil traded near the highest price in three days before supply data that will signal the strength of fuel demand in the US. Light Sweet Crude Oil futures rose 16 cents or 0.16% to trade at 98.45 after having tested a high of 98.67 per barrel whereas Natural Gas is trading flat at 3.834 per mmbtu. With the exception of Nickel, Bas4e metals are trading lower since morning with Copper trading at 7122.00, down 19 points while Lead and Zinc are losing around a percent to trade at 2253.75 and 2382.50 respectively.
Tuesday, 5 August 2014
Commodity Market Update (Silver)
Precious metals on CMX are trading higher since morning due to weaker than the expected China’s service PMI which spurred safe heavens demand. Actively traded Gold contract is gaining 4.20 points or 0.33% to trade at 1292.50 while Silver tested a high of 20.29 before settling at 20.255, up 0.11% or 0.02 points an ounce. WTI Crude Oil traded near the highest price in three days before supply data that will signal the strength of fuel demand in the US. Light Sweet Crude Oil futures rose 16 cents or 0.16% to trade at 98.45 after having tested a high of 98.67 per barrel whereas Natural Gas is trading flat at 3.834 per mmbtu. With the exception of Nickel, Bas4e metals are trading lower since morning with Copper trading at 7122.00, down 19 points while Lead and Zinc are losing around a percent to trade at 2253.75 and 2382.50 respectively.
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