Commodity Market Update (Gold)

Precious metals on Comex rallying after emergency bailout talks between Greece and it’s international creditors broke down. Gold future prices are trading $1178 an ounce, higher by five dollars after making a high of $1187 while Silver future prices are trading at $15.78 an ounce, up by five cents after making a high of $15.99. On Nymex, WTI Crude Oil prices dropped sharply as Greece looked set to default on its debt repayment this week which dampening demand of the crude oil. Crude Oil is selling at $58.10 per barrel, lower by more than two-and-half percent. Natural Gas is trading at $2.78 per mmBtu, up by half-a percent. On LME, all the base metals are trading in the red on fear of the global growth outlook. Nickel sinks most to six-year low to trade at $11845 per tonne, fell by almost five percent while Copper is currently quoting at $5767 per tonne, down by 25 points. Lead and Zinc prices are trading at $1765 and $2013 per tonne, lower by 16 and 13 points respectively.

Commodity Market Update (Copper)

Gold and Silver prices are trading in a tight range. Gold is trading at 1172.80 while Silver is trading at 15.77 an ounce, as we write this. The Greece factor had driven prices in short term and market is likely to follow it for the day. The very short term bias is negative and we can see prices moving down in near term. Base metals on LME are in red with Nickel leading the laggards with a decline of 1.45% at 12530.00 and Copper is at 5746.0, -0.24%. Other metals are also lower and are likely to continue the prolong decline in coming hours too. Crude Oil and Natural Gas prices on NYM is at 59.49 and 2.81 respectively. Crude Oil prices are down by 0.28% and NG is lower by 1.26% at the time of writing this. Intraday bias for Crude Oil is neutral while that for NG is negative.

No major economic releases from US may keep market subdued.

Commodity Market Update (Crude Oil)

On Comex, precious metals are trying to rebound from week’s low ahead of quarterly US GDP data later in the session. Gold future prices are quoting at $1178 per troy ounce, higher by one dollar and Silver prices are trading at $15.84 per troy ounce, up by 10 cents. On Nymex, WTI Crude Oil prices nudged higher on bets of US supply drop and uncertainty over Iran deal. Crude Oil is trading at $61.11 per barrel, rose by 10 cents and Natural Gas is trading at $2.77 per mmBtu, higher by more than one-and-half percent. On LME, base metals are trading on mixed note. Copper prices are currently quoting at $5770 per tonne, up by 18 dollars and Lead is selling at $1802 per tonne, higher by eight points. Nickel is trading in red at $12815 per tonne, down by 35 points while Aluminium and Zinc are trading almost flat at $1726 and $2055 per tonne respectively.

Commodity Market Update (Copper)

Precious metals on Comex slipped lower from the peak of yesterday as dollar index recovered mildly after Federal Reserve’s recent policy statement. Gold future prices are trading at $1199 per troy ounce, down by three dollars while Silver future prices are trading at $16.09 per troy ounce, fell by seven cents. On Nymex, WTI Crude Oil prices dropped almost one-and-half percent as investors looked ahead of US rig count data later in the session. Crude Oil is trading at $59.62 per barrel while Natural Gas is selling at $2.78 per mmBtu with flat note after yesterday’s neutral storage data. On LME, all the base metals are trading in the red. Copper continues it’s losing streak to trade at $5671 per tonne, lower by 76 points while Nickel is currently quoting at $12670 per tonne, down by 45 dollars. Lead and Zinc are trading at $1793 and $2053 per tonne, lower by 14 and 15 dollars respectively.

Commodity Market Update (Crude Oil)

On Comex, Precious metals remained muted as investors looked ahead to the Federal Reserve’s monetary policy statement due later in the day for fresh triggers. Gold future prices are trading at $1178 per troy ounce, down by two dollars while Silver prices are trading at $15.95 per troy ounce with flat note. On Nymex, WTI Crude Oil prices edged higher as traders speculate that today’s upcoming weekly US supply data will be dropped. Crude oil  is trading now at $61.18 per barrel, higher by two percent while Natural Gas is trading at $2.90 per mmBtu, almost flat. On LME, all the base metals are trading in the green except Zinc ahead of FOMC statement. Copper is currently quoting at $5768 per tonne, up by 17 dollars and Nickel prices are trading at $12825 per tonne, higher by 135 points. Lead is selling at $1809 per tonne, lower 11 dollars while Zinc is trading at $2093 per tonne, lower by two dollars.

Commodity Market Update (Copper)

Precious metals on Comex remained subdued on stronger dollar against other major currencies and ahead of US key economic data. Gold future prices are trading at $1179 per troy ounce, down by one dollar while Silver future prices are trading at $15.85 per troy ounce, lower by eight cents. On Nymex, WTI Crude Oil prices edged lower ahead of latest US rig count data. Crude Oil is trading at $60.24 per barrel, fell by more than half-a-percent. Natural Gas is trading at $2.79 per mmBtu, down by almost one percent after yesterday’s negative storage data. On LME, base metals pack is trading on mixed note. Copper prices are currently quoting at $5908 per tonne, up by 20 points while Nickel is trading at $13120 per tonne, down by 210 dollars. Lead and Zinc are trading at $1850 and $2118 per tonne, lower by 16 dollars and nine dollars respectively.

Commodity Market Update (Crude Oil)

On Comex, precious metals are trading with positive note. Gold future prices edged higher for third consecutive day due to weaker dollar against other major currencies. Gold is trading at $1185 per oz, higher by almost eight dollars while Silver future prices are trading at $16.09 per oz, up by 13 cents. On Nymex, WTI Crude Oil prices continued its rising spree as market participants expect large supply drop in the US stockpiles later in the session. Crude Oil is selling at $61.40 per bbl, higher by more than two percent. Natural Gas prices are trading at $2.87 per mmBtu, up by two cents after yesterday’s robust gain. On LME, all the base metals are trading in the green ahead of key Chinese data later in the week. Copper prices rebounded from two months low to trade at $6066 per tonne, higher by 99 points while Nickel is currently quoting $13650 per tonne, up by more than two percent. Lead and Zinc are trading at $1964 and $2188 per tonne, higher by 35 and 25 points respectively.

Commodity Market Update (Silver) :

Precious metals on Comex are trying to rebound after recent fall. Gold future prices are trading at $1181 per troy ounce, higher by almost eight dollars while Silver future prices are trading at $16.09 per troy ounce, rose by almost one percent. On Nymex, Crude Oil futures edged higher today to trade at $59.20 per bbl, higher by more than one percent as market participants are looking ahead to fresh weekly US stockpiles data. Natural Gas prices are trading at $2.71 per mmBtu, almost flat. On LME, all the base metals are trading with positive note on hopes for China stimulus. Copper is currently quoting at $5983 per tonne, up by 24 dollars while Nickel is selling at $13580 per tonne, rose by almost one-and-half percent. Lead and Zinc prices are trading at $1936 and $2169, higher by 24 and 27 points respectively.

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.

Commodity Market Update (Copper)

On Comex, precious metals remained muted ahead of US non-farm payrolls data later in the day. Gold futures prices are trading at $1174 per oz, lower by one dollar while Silver future prices are trading at $16.11 per oz with flat note. On Nymex, WTI Crude Oil prices are trading in the red to trade at $57.80 per bbl, down by 20 cents as participants remained cautious ahead of key meeting of OPEC. Natural Gas is now trading at $2.63/mmBtu, almost flat after yesterday’s storage data. On LME, all the base metals are trading in the red ahead of US unemployment rate. Copper is currently quoting at $5918 per tonne, fell by two dollars while Nickel is selling at $ 12875 per tonne, down by 60 dollars. Lead and Zinc are trading at $1914 and $2131 per tonne, lower by 15 dollars and 10 dollars respectively.

Commodity Market Update (Natural Gas)

Precious metals on Comex are subdued as traders are looking ahead to the US jobless data is to be released later in the session. Gold futures prices are trading at $1183 per troy ounce, down by two dollars while Silver futures are selling at $16.45 per troy ounce, lower by three cents only. On Nymex, Crude Oil prices are trading in green at $59.85/bbl, up by 21 cents amid growing prospects that OPEC will keep their production target unchanged. Natural Gas prices are also trading in green at $2.65/mmBtu, higher by two cents ahead of EIA weekly storage data. On LME, all the base metals are trading in the red. Copper prices fell to the lowest level in last six weeks to trade at $5955 per tonne, down 48 dollars while Nickel is quoting now at $12850 per tonne, fell by 95 dollars. Zinc and Lead prices are trading at $2150 and $1942 per tonne, down by 24 dollars and seven dollars respectively.

Commodity Market Update (Crude Oil)

On COMEX, precious metals are losing ahead of US manufacturing and labor departments’ data and ECB press conference which could set the directions of this precious metal complex. Actively traded Gold contract is easing 5.30 points or half a percent to trade at 1189.00 an ounce while Silver dropped over a percent or 18 cents to trade at 16.615. Base metals prices on LME are losing since morning due to stronger dollar against the other currencies. LME Nickel is down 0.65% or 85 points to trade at 12920.00 while Copper is trading at 6010.00 after making a low of 5998.00. WTI Crude Oil futures tumbled over 2% or 1.31 points to trade at 59.95 amid growing speculation that OPEC Counties will keep production levels unchanged when they meet on Friday, despite ongoing concerns over ample global supplies. Natural Gas is trading almost flat at 2.695 with negative bias. Traders are waiting for EIA’s Oil stockpiles report which will be released tonight at 8.00PM with analyst forecast of -1.9 MB while API forecasted that Oil inventory builds 1.8 MB.

Commodity Market Update (Silver)

Precious metals on Comex are trading with flat note as traders focused on talks between Greece and it’s international creditors. Gold future prices are trading at $1190 per oz, higher by only one dollar while Silver prices are trading at $16.70 an ounce, up by two cents only. On Nymex, WTI Crude Oil prices edged higher to trade at $60.98 a barrel, gained more than one percent on hope that OPEC will maintain their group production target in the forthcoming meet. Natural Gas prices are trading subdued at $2.64 per mmBtu, almost flat. On LME, all the base metals are trading in red except Lead. Lead prices are trading at $1932 per tonne, up by four dollars while Copper is quoting at $6001 per tonne with flat note. Nickel and Zinc are also trading on negative note, down by 105 dollars and 14 dollars respectively.

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.

Commodity Market Update (Copper)

On Comex, precious metals are muted as traders are waiting for the US first-quarter GDP data later in the day. Gold future actively-traded contract is trading at $1189 per troy oz, almost flat while Silver future prices are trading at $16.70 per troy oz, down by two cents only. On Nymex, Crude Oil future prices rallied over one percent to trade at $58.30 a bbl, after yesterday’s US inventory fell more than expected last week. Natural Gas is trading on flat note at $2.70 per mmBtu after yesterday’s plunge. On LME, all the base metals are trading in the red. Copper prices are trading at $6096 per tonne, down by 12 dollars while Nickel is selling now at $12750 per tonnne, lower by 50 points. Lead and Zinc are also moving in the same manner to trade at $2210 and $1975 per tonne, down by 23 dollars and 17 dollars respectively.

Commodity Market Update (Natural Gas)

Precious metals on Comex are struggling near two-week’s low amid growing prospects that Federal Reserve is on track to raise interest rates. Gold future prices are trading at $1187 a troy ounce, up only one dollar while Silver prices are trading flat at $16.66 per troy ounce. On Nymex, Crude Oil future prices are trading at $57.65 a barrel, higher by 13 cents on bets for US supply drop. Natural Gas is trading at $2.82 per mmBtu, down by two cents ahead of weekly storage data. On LME, base metals pack is trading on mixed note ahead on US jobless claims data. Copper prices are currently quoting at $6095 per tonne, down two dollars while Nickel is trading at $12780 per tonne, lower by 90 dollars. Lead and Zinc are trading in green at $1973 and $2207, up by 19 dollars and 18 dollars respectively.

Commodity Market Update (Crude Oil)

On Comex, precious metals are trading near two week’s low amid growing prospects that Federal Reserve will raise interest rates sooner or later. Gold future prices are trading at $1184 a troy ounce, down by 2.5 dollars while Silver is trading at $16.65 per troy ounce, lower by 10 cents. On Nymex, WTI Crude Oil prices are trying to rebound after yesterday’s plunge ahead of weekly US stockpiles data. Crude Oil is quoting at $58.25 a barrel, up by 22 cents. Natural Gas actively-traded contract is trading at $2.88 per mmBtu, higher by three cents with slightly positive bias. On LME, all the base metals are trading in red after yesterday’s industry data. Copper prices are currently quoting at $6090 per tonne, fell by 27 dollar while Nickel is trading at $12670 per tonne, down by 45 points. Lead and Zinc prices are also moving in tandem to trade at $1933 and $2167 per tonne, down 16 dollars and 19 dollars respectively.

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

Commodity Market Update (Crude Oil)

On Comex, precious metals rebounded mildly after yesterday’s sharp fall. Gold future prices are trading at $1208 a troy ounce, up by two dollars while Silver future prices are quoting at $17.11 per troy ounce, higher by four cents. On Nymex, Crude Oil are trading at $59.04/barrel, rose by 55 cents or almost one percent on bets of US supply drop for which data is to be published later in the day. Natural Gas is now trading at $2.98 per mmBtu with little bit positive bias after yesterday’s plunge. On LME, all the base metals are trading in the red on back of stronger dollar against other currencies. Copper are currently quoting at $6209 per tonne, slumped to fresh three-week low while Zinc are trading at $2212 per tonne, down more than one percent, most among the pack. Nickel and Lead are also down by 105 dollars and 20 dollars respectively.

Commodity Market Update (Silver)

On Comex, precious metals fell for the first time in six sessions ahead of US homeless data. Gold future prices are trading at $1221 per troy ounce, down by six-and-half dollars or half-a-percent while Silver future prices are quoting at $17.45 a troy ounce, lower by 28 cent or almost one-and-half percent. On Nymex, Crude Oil actively-traded contract are trading at $59.81 a barrel, down by 43 cents as traders looked ahead to fresh weekly information from US stockpiles of crude oil. Natural Gas are now trading at $3.05, rose by four cents. On LME, all the base metals are trading in red on the back of stronger dollar. Copper are currently quoting at $6276 per tonne, down 101 dollars while Nickel is trading at $13400 per tonne, down by 310 points, most among the packs. Lead and Zinc are also down by 19 dollars and 31 dollars respectively.