Gold climbed for a second day as policy makers in Europe tightened the terms of Greece’s bailout and the People’s Bank of China joined central banks acting to counter slower growth, boosting demand for a haven. Actively traded Gold contract were tested a high of 1274.60 before settling at 1266.00, up only 1.60 points an ounce as we write this. Silver was also trading along with the Gold and tested a high of 17.50 but later on it erased all of its gains and trading in red at 17.28, down 0.66% or 12 cents an ounce. WTI Crude Oil prices plunged from the one month high as fears over a glut in supplies intensify after data showed that oil supplies in the US rose to the highest level. Light Sweet Crude Oil futures dropped to a low of 47.36 before trading in green at 48.71, up 24 cents or half a percent while Natural Gas is up 0.68% or 2 cents to trade at 2.68 per mmbtu. Base metals are losing since morning due to a stronger dollar against the other currencies. Copper is losing most of the ground, slashed over 2% or 117.50 points to trade at 5590.00 after having tested a low of 5568.00, followed by rest of the metals which are down more than a percent each.
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