Thursday, 16 April 2015

Commodity Market Update (Crude Oil):

Gold and Silver prices on CMX are trading lower since morning as the dollar index recovered some lost ground after a weaker than expected US Retail Sales report on Tuesday. Actively traded Gold contract is down 2.90 points or 0.30% to trade at 1190.00 while Silver futures tested a low of 16.045 before settling at 16.10, eased around half a percent or 6 cents an ounce. WTI Crude Oil futures rose for the fifth consecutive session on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories rose at a slower pace than expected last week. Light Sweet Crude Oil futures rose 1.35% or 72 cents to trade at 54.01 per barrel and Natural Gas is trading in almost flat at 2.53 with positive bias as we write this. Base metals on LME are trading higher except Copper which is trading in red at 5943.00 after having tested a low of 5917.00 while Aluminum is leading the group, surged 1.40% or 25 points to 1810.00, followed by rest of the metals.

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