Monday, 1 June 2015

Commodity Market update (Gold)

On Comex, precious metals are struggling as the US dollar edged higher amid growing prospects that the Federal Reserve would raise interest rates. Gold future prices are trading at $1185 per troy ounce, down by four-and-half dollars while Silver future prices are trading at $16.61 per troy ounce, lower by eight cents. On Nymex, WTI Crude Oil prices edges lower by more than one percent to trade at $59.63/bbl after Friday’s robust gain. Natural Gas is trading at $2.64/mmBtu with flat note. On LME, all the base metals are trading in red except Nickel as China’s PMI weakens demand outlook. Copper is currently quoting at $5997 per tonne, down 20 points while Nickel is trading at $12615 per tonne, higher by 15 dollars. Lead and Zinc are trading at $1922 and $2154, down by 22 dollars and 30 dollars respectively.

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