Friday 12 December 2014

Commodity Market Update (Copper)

On COMEX, Precious metals are trading in volatile since morning with negative bias. Actively traded Gold contract tested a low of 1218.00 before trading at 1224.60, down 1 points or 0.10% whereas Silver is up 4 cents or 0.22% to trade at 17.15 after having tested a low of 17.01 an ounce. WTI Crude Oil prices extending its last night’s decline as IEA cut Global oil demand next year will be weaker than previously estimated and supply from non-OPEC producers will be bigger. WTI Crude Oil is losing 1.10% or 65 cents to trade at 59.33 after having tested a low of 58.80 per barrel while Natural Gas is adding 2% or 7 cents to trade at 3.707 per mmbtu. Base metals are trading higher since morning with Copper trading at 6502.00, up 0.74% or 47.25 points while Nickel is leading the group, surging over 1.5% or 247 points to 16470.00 per metric ton, followed by rest of the metals.

Photo: Commodity Market Update (Copper):
On COMEX, Precious metals are trading in volatile since morning with negative bias. Actively traded Gold contract tested a low of 1218.00 before trading at 1224.60, down 1 points or 0.10% whereas Silver is up 4 cents or 0.22% to trade at 17.15 after having tested a low of 17.01 an ounce. WTI Crude Oil prices extending its last night’s decline as IEA cut Global oil demand next year will be weaker than previously estimated and supply from non-OPEC producers will be bigger. WTI Crude Oil is losing 1.10% or 65 cents to trade at 59.33 after having tested a low of 58.80 per barrel while Natural Gas is adding 2% or 7 cents to trade at 3.707 per mmbtu. Base metals are trading higher since morning with Copper trading at 6502.00, up 0.74% or 47.25 points while Nickel is leading the group, surging over 1.5% or 247 points to 16470.00 per metric ton, followed by rest of the metals.

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