Commodity Market Update (Gold)

On Comex, Precious metals tumbled as a broadly stronger US dollar dampened the appeal of these metals. Gold future prices are trading at $1194 a troy oz, down by 10 dollars while Silver future prices are trading at $16.77 per troy ounce, lower by 28 cents or more than one-and-half percent. On Nymex, WTI Crude Oil prices fell by 33 cents to trade at $59.39 a barrel as traders expecting that US shale oil producers could increase drilling activity. Natural Gas is trading at $2.84 per mmBtu, down almost five cents. On LME, all the base metals are trading in the red ahead of US economic data except Zinc. Copper prices are trading at $6148 a tonne, down half-a percent while Nickel is trading at $12655 per tonne, lower by 100 dollars. Lead prices are trading at $1931, down by 16 dollars while Zinc is trading at $2176, higher by five points with slightly positive bias