DAILY COMMODITY MARKET STRATEGY-16 Jan 2014

BULLION

Gold February future has declined by 0.3 per cent at $ 1,261.40.Silver March delivery is trading on a soft note at $ 17.095.Platinum April contract is marginally up at $ 1,260.95.

ENERGY

Crude Oil February and Brent Oil March futures have advanced 0.5 per cent each at $ 46.50 and $ 48.37, respectively.Natural Gas February delivery has shed over 0.5 per cent at $ 3.170.

The MCX Natural Gas January futures slipped after two strong sessions on Thursday. The fall in the energy futures was on account of profit-booking after the commodity galloped over 15 per cent (Rs 26) in the preceding two trading session.

The MCX Crude Oil January futures have been trading higher for the last two trading sessions. On Thursday, the energy futures rallied to a high of Rs 3,120, but however pared gains, before cling with a gain of 2.7 per cent (Rs 76) at Rs 2,939 on the back of buoyant buying ahead of its January contract expiry today.

BASE METAL

Copper March future has also moved down 0.5 per cent at $ 2.566.

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