Commodity Market Update (Silver)

Gold rebounded from the biggest one-day decline this year before the Federal Reserve begins a two-day policy meeting to assess the timing of interest-rate increases amid slumping energy prices and signs of an improving economy. Actively traded Gold contract tested a low of 1193.60 before settling at 1203.90, down 4 points or 0.33% an ounce while Silver is losing 1.74% or 30 cents to trade at 16.275 after having tested a low of 16.075 per ounce. The global price of crude oil plunged through $60 a barrel for the first time in five years with almost no signs producers are ready to tackle a glut. NYMEX Crude Oil plunged around 3% or 1.56 points to 54.38 after having tested a low of 54.01 per barrel and Natural Gas is trading in green at 3.739, up more than half a percent or 2 cents per mmbtu. In the earlier session base metals were trading lower but later on recovered some of their losses. LME Nickel is down 127 points or 0.77% to trade at 16278.00 after having tested a low of 16070.00 while Copper is the only metal which trade in green at 6386.25, up 16.25 points per metric ton.