Precious metals are trading with positive bias with Gold is at 1205.50, +10 points and Silver is at 16.43 an ounce, adding 16 cents or almost a percent, as we write this. The near term outlook is positive for Gold and Silver and further strength in Gold can be seen once price sustain the level of 1212.50. Base metals are trading in red with Nickel leading the laggards with decline over 0.78% or 131 points at 16558.00, followed by all other metals. The bias remains negative and we expect prices to drift lower in coming hours. Crude Oil prices are trading at 63.31, up by 0.41% and Natural gas is higher by 1.45% at 3.64 per mmbtu. The recent gain in Crude Oil and Natural gas may exploit selling opportunity, as the overall trend in both the commodities are negative.
On data front, there is no major releases from US that can set direction for priices.
On data front, there is no major releases from US that can set direction for priices.
No comments:
Post a Comment