Commodity Market Update (Silver)

Precious metals on CMX are trading silent after the night’s steep decline. Actively traded Gold contract tested a low of 1252.60 before trading in green at 1255.70, up 2.50 points or 0.20% and Silver is trading up more than half a percent or 10 cents to trade at 19.06 after having tested a high of 19.105 an ounce. Base metals are plunging on the LME due to a stronger dollar against the other currencies. 3-month Zinc is leading the metals group, dropped over 2% or 500 points to trade at 2341.00 while Nickel is tumbling around 2% or 400 odd points to trade at 19567.00, followed by rest of the metals which are down around a percent each. WTI Crude Oil is trading higher after the last session’s steep decline. NYMEX Oil is up 0.60% or 56 cents to trade at 93.22 and Natural Gas is easing around half a percent or 2 cents to trade at 3.859 per mmbtu.