Wednesday, 13 May 2015

Commodity Market Update (Crude Oil)

On Comex, precious metals are trading almost flat with little bit positive bias ahead of US Economic Data. Gold future prices are trading at $1193 per troy ounce, up by one dollar while Silver prices are quoting at $16.66 per troy ounce, higher by 13 cents. On Nymex, Crude Oil future prices are trading at $61.25 a barrel, up 50 cents or half-a-percent amid higher demand forecast from OPEC’s monthly oil report. Natural Gas is consolidating within a small range of $2.94 and $2.92 after yesterday’s sharp rally. On LME, base metals are trading on mixed note. Aluminium and Zinc prices are trading higher at $1896 and $2359 per ton, up four and five dollars respectively. Copper prices are currently quoting $6420 per ton, almost flat compared to previous close. Lead and Nickel are trading in red at $2051 and $14095, down by nine and 205 dollars respectively.

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