Commodity Market Update: Crude Oil

CMX Gold is retreating from its six weeks high on speculation physical buying will slow and as investors weighed a stronger dollar. Actively traded Gold contract is trading at 1246.70, down around half a percent or 5 points and Silver is losing more than a percent or 19 cents to trade at 17.36 an ounce. With the exception of Nickel, Base metals rebound from almost three months low due to sustained manufacturing expansion in China. 3-month Aluminum is leading the group, adding a percent or 19 points to trade at 2005.75 after having tested a high of 2015.75 while Zinc tested a high of 2246.00 before settling at 2229.50, up half a percent or 11 points, followed by rest of the metals. Energy prices on NYMEX trading silent since morning with Crude Oil trading at 82.50 with positive bias and Natural Gas is trading at 3.703 with negative bias.