DAILY COMMODITY MARKET STRATEGY-24 Dec 2014

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BULLION

Gold February and Silver March futures are trading on a flat note at $ 1,178.20 and $ 15.768, respectively.Platinum January delivery is down 0.2 per cent at $ 1,188.40.

ENERGY

Crude Oil February contract has declined 0.7 per cent at $ 56.74.Brent Oil February future is unchanged at $ 61.33.Natural Gas January delivery is down 0.08 per cent at $ 3.168.

The MCX Crude Oil January futures are still not giving any clear signals on which way the prices are moving. On Tuesday, the Crude Oil contract tested a high of Rs 3,633 per barrel, before settling with a significant gain of 2 per cent to Rs 3,609 per barrel mirroring NYMEX Crude Oil prices.

The MCX December Natural Gas futures are lingering around the lower-end of the Bollinger Band for the last two trading sessions, ahead of its contract expiry on 26 December, 2014.

On Tuesday, the energy futures rallied as much as Rs 205, but however shaved-off gains and ended with a loss of 1.2 per cent to Rs 199.

BASE METAL

Copper March contract is up 0.08 per cent at $ 2.868.

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