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Commodity Watch: Crude Oil, Base Metals

Crude Oil prices reportedly declined today, led by  decision lagging by OPEC on output cuts. Brent crude oil futures has fallen below USD 60 per barrel early trade at USD 59.50 per barrel, down 0.9 percent from their last close, while US WTI crude futures were at USD 51.24 per barrel, down 0.5 percent.

Gold prices advanced moderately as the dollar weakened following a fall in US Treasury yields. Spot gold was up 0.1 percent at USD 1239.24 per ounce today having hit a near 5-month high at USD 1244.32 per ounce in the previous session, while U.S. gold futures were up 0.1 percent at USD 1244.6 per ounce.

At Metal space, price of Copper at LME climbed 1 percent on Friday under reports that the U.S. Federal Reserve could pause from raising interest rates.  LME copper 3-month was up 1 percent at USD 6129.50 a tone, while LME aluminium edged up 0.5 percent to USD 1945.50 a tonne and zinc gained 0.1 percent to USD 2596.50.