Commodity Market Update (Crude Oil):

Precious metals are trading nominally lower on back of profit booking after significant gain in the past session. Gold active contract is lower by 0.16% at 1230.0 and Silver is down around 0.32% at 17.08 an ounce. Intraday bias is negative and can see corrective decline which may exploit buying opportunity in the latter session. Base metals are trading lower with Copper at 6439.00, -28 points or 0.43% and Zinc is the worst performer to ease 0.66% to 2213.75 as we write this. Short term bias is still negative for Base metals. Energy prices on NYM are also in red with Crude Oil trading at 62.90, lower by 1.41% and Natural Gas is at 3.63, -0.44%, as we write this.