DAILY COMMODITY MARKET STRATEGY-23 Jan 2015

BULLION

Gold February future is marginally down at $ 1,299.70.Silver March contract is up 0.2 per cent at $ 18.392.Platinum April delivery has declined 0.5 per cent at $ 1,278.90.

ENERGY

Crude Oil March future has surged around 2 per cent to $ 47.13.Brent Oil March expiry has jumped over a per cent at $ 49.39.Natural Gas February contract has added 0.2 per cent at $ 2.870.

The MCX January futures for Natural Gas tumbled after facing resistance around the 20-DMA (Rs 187). The energy futures tested a low of Rs 170, before signing off the day with a loss of 4 per cent to Rs 172 owing to sharp fall in NYMEX Natural Gas futures after supplies fell less than forecast last week.

BASE METAL

Copper March delivery has tumbled almost 2 per cent at $ 2.543.

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