Commodity Market Update (Silver)

Gold advanced as investors assessed prospects for higher U.S. interest rates amid signs that a global slowdown may be hurting the world’s largest economy. Actively traded Gold contract tested a high of 1286.50 before settling at 1282.40, up 5.30 points or 0.40% an ounce and Silver tested a high of 17.75 before settling at 17.65, surging around 2.5% or 41 cents per ounce. Oil advanced for a fourth day, the longest rising streak since August, while gasoline extended gains as a strike continued at US refineries that account for 10 percent of the nation’s capacity. Light Sweet Crude Oil futures jumped over 3% or 1.46 points to trade at 51.03 after having tested a high of 51.31 per barrel while Natural gas is trading up more than half a percent or 2 cents to trade at 2.696 per mmbtu. Base metals rallied since morning with Copper trading at 5650.00, climbing around 3% or 165 points, followed by rest of the metals which are gaining more or less 1.5% each.