Commodity Maqrlet Update (Gold):

Precious metals on CMX are trading higher since morning as the US dollar index pause its recent rally ahead of the Federal Reserve’s two days monetary policy meeting. Actively traded Gold contract is gaining 0.43% or 5 points after having tested a high of 1163.30 an ounce while Silver futures tested a high of 15.755 before settling at 15.635, up more than a percent or 14 cents. WTI Crude Oil extended its collapse to the lowest level since March 2009 on speculation that record US supply may start to strain the country’s storage capacity. Light Sweet Crude Oil futures tested a low of 43.57 before settling at 44.70, down 13 cents or 0.29% per barrel while Natural Gas is trading almost flat at 2.719 with negative bias. Base metals were trading higher in the earlier session but later on erased all of their gains and trading almost flat. Copper is trading at 5860.50, up 3 points while Nickel tested a low of 14015.00 before trading at 14125.00, down 20 points.