Gold extended losses from the previous session on Thursday, as traders reassessed their expectations for the timing of the first US rate hike after the Federal Reserve sounded more upbeat about the economy. Actively traded Gold contract is losing around a percent or 11.60 points to trade at 1274.40 after having tested a low of 1271.20 level whereas Silver futures tested a low of 17.53 before settling at 17.635, plunged over 2.5% or 45 cents an ounce. Base metals are trading lower since morning with Copper trading at 5405.50, down over a percent or 54.50 points and Zinc is worst performing metals among the group, dropped 1.20% or 25.50 points to trade at 2091.00, followed by rest of the metals. WTI Crude Oil is up 26 cents or 0.58% to trade at 44.71 and Natural Gas is trading higher at 2.919, up 2.71% or 8 cents per mmbtu. EIA is set to release their weekly storage report tonight at 9.00PM with analyst forecast of -113 Bcf against the previous week of -216 Bcf.
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