Precious metals closed higher on COMEX Friday as concern that US government may be shutdown due to budget impasse which boosted safe heaven demand. Actively traded Gold contract rose 1.12% or 14.80 points to 1338.40 after having tested a high of 1343.80 an ounce while front month Silver futures tested a low of 22.18 before settling at 21.83,up 0.07 points or 0.30%.
Base metals prices rallied on the London Metal Exchange Friday on the hopes that Federal Reserve may continue its aid to the US economy till to start of 2014 which boosted investors confidence for this industrial metals. 3-month Aluminum was leading the metals group,gained 1.21% or 22points to 1840.00 while Copper tested a high of 7308.50 before settling at 7292.00, up 34.50 points or0.48%followed by rest of metals which also gained around a percent each.
WTI Crude Oil futures fell on Friday as tensions eased between the United States and Iran and reduce worries about Oil supplies from the Middle East Countries.Oil prices also lower on concern that the US government is headed for a shutdown over a budget stalemate that would reduce demand in the world's largest oil consumer. Light Sweet Crude Oil futures tested a low of 102.36before settling at 102.87, down 16 cents or 0.16% a barrel. Front month Natural Gas futures settled higher at 3.59,up 2 cents or 0.62%after having tested a high of 3.61 on NYMEX.