DAILY COMMODITY MARKET STRATEGY-6 Jan 2015
Gold February and Silver March futures are trading on a flat note at $ 1,205.80 and $ 16.212, respectively.Platinum April future is marginally in red zone at $ 1,213.65.
Crude Oil February future has added 0.4 per cent at $ 50.26.Brent Oil and Natural Gas February futures have spurted almost a per cent each at $ 53.50 and $ 2.941, respectively.
The MCX Crude Oil January ended lower for the second straight day. On Monday, the energy futures slipped below the key support the lower-end of the Bollinger Band to touch a low of Rs 3,190, but however recovered losses and ended above the Bollinger Band - with a loss of over 5 per cent (Rs 176) to Rs 3,215 owing to big fall in NYMEX Crude Oil prices.
The MCX January Natural Gas futures slipped back into the negative zone on the first day of this week. On Monday, the energy futures tested a low of Rs 189, before closing with a loss of almost 3 per cent at Rs 190 due to huge fall in NYMEX Natural Gas market.
Copper March future has gained 0.3 per cent at $ 2.777.
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