Commodity Market Update

CMX Gold fell to a two-month low in the longest run of declines since June on the back of outlook for higher US interest rates that strengthened the dollar. CMX Gold tested a low of 1274.10 before settling at 1280.40, plunged more than a percent or 13.90 points and Silver dropped a percent or 20 cents to trade at 19.30 after having tested a low of 19.285 an ounce. WTI Crude Oil is trading down 0.71% or 66 cents to trade at 92.80 after having tested a low of 92.50 whereas Natural Gas is surging around 2% or 7 cents to trade at 3.896 per mmbtu. Base metals are losing on the London Metal Exchange as investors locked their profits after the last night’s sharp rally and a weaker than the expected economic releases from the China. 3-month Copper is losing 0.50% or 35.25 points to trade at 6982.75 after having tested a low of 6973.50 and Zinc is down more than half a percent or 13.50 points to trade at 2344.50, followed by rest of the metals which are declining around 0.40% each.