Commodity Market Update (Crude Oil)

Precious metals on CMX are trading silent since morning with positive bias. Actively traded Gold contract is trading up 4.70 points or 0.40% an ounce and Silver is trading at 17.04, gaining around a percent or 17 per ounce as we write this. WTI Crude is continuing its decline after the last night’s sharp decline as on the expectation of supply glut. Light Sweet Crude Oil futures fell 0.70% or 37 cents to trade at 49.64 after having tested a low of 49.43 while Natural Gas is gaining around 3% or 8 cents to trade at 2.75 per mmbtu. Base metals are trading mixed since morning with Copper trading at 5645.50, up 27.50 points or half a percent, followed by Lead and Zinc while Aluminum and Nickel both are trading in red at 1832.00 and 14790.00 respectively.