Monday, 8 June 2015

Commodity Market Update (Gold)

On Comex, precious metals are struggling amid speculation that Federal Reserve may raise interest rates sooner or later. Gold futures are trading at $1174 per troy ounce, higher by six dollars while Silver futures are quoting at $16.04 per troy ounce, up by six cents only. On Nymex, WTI Crude Oil future prices are trading in red after data showed that China’s crude imports declined in May. Crude Oil futures are selling at $58.62 per barrel, down by half-a-percent and Natural Gas future prices are in green to trade at $2.62 per mmBtu, higher by five cents. On LME, base metals pack are trading on mixed note after data showed that China’s copper imports slowed down in May. Copper are currently quoting at $5921 per tonne, fell by 20 dollars while Zinc is trading at $2130 per tonne, down by nine points. Nickel prices are trading in green at $13130 per tonne, higher by 25 points while Lead too edges higher by 10 dollar to trade at $1917 per tonne.

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