Commodity Market Update (Gold)

Gold fell for a second day before the Federal Reserve meets to assess a pledge to keep borrowing costs low for a considerable time and provide guidance on the outlook for monetary policy. Actively traded Gold contract dropped around a percent or 11.50 points to 1210.60 while Silver is losing over a percent or 18 cents to trade at 16.88 after having tested a low of 16.79 an ounce. WTI Crude oil rose from its lowest level in five-years after Libya said it was unable to load cargoes at two ports. Light Sweet Crude Oil futures tested a low of 56.25 before settling at 58.42, up over a percent or 59 cents per barrel while Natural Gas jumped 2.53% or 10 cents to trade at 3.89 after having tested a high of 3.936 per mmbtu. With the exception of Lead, base metals are trading higher since morning with Copper trading at 6502.75, up 12.75 points or 0.20j% while Nickel is leading the group, up 1.20% or 199 points to trade at 16799.00 per metric ton.