DAILY COMMODITY MARKET STRATEGY-14 Nov 2014

Commodity Tips
Gold prices fell by Rs 90 to Rs 26,360 per 10 grams in the national capital today as demand eased at existing levels amid a weak global trend.Silver too showed weakness and prices declined by Rs 100 to Rs 35,400 per kg on reduced offtake by industrial units and coin makers.

Crude oil futures fell by 0.11 per cent to Rs 4,751 per barrel today as speculators trimmed positions amidst a weak trend in Asian markets.The oil for December delivery moved down by a similar margin to trade at Rs 4,776 per barrel in a volume of 200 lots.

Copper futures ended lower on Thursday after weak economic data in top metals consumer China and US jobs data that missed forecasts, which fanned worries about global base metals demand. The data showed industrial production in China rose at an annualized rate of 7.7% in October, missing the estimates for a gain of 8%.Copper futures for December delivery settled down 1.1 per cent at $2.9945 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange closed 0.4 percent lower at $6,655 a metric ton.

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