DAILY COMMODITY MARKET STRATEGY-10 Feb 2015

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BULLION

Gold April future has added 0.2 per cent in early morning trade at $ 1,244.Silver March delivery is unchanged at $ 17.070.Platinum April has gained 0.2 per cent at $ 1,221.65.

ENERGY

Crude Oil March future has slipped into red, the commodity is now down 1.3 per cent to $ 52.19.Brent Oil April contract has shed nearly a per cent at $ 58.64.Natural Gas March delivery is trading on a flat note at $ 2.615.

The MCX Crude Oil February futures extended gains for the third day in row. On Monday, the energy tested a high of Rs 3,340, before signing off the day gain of 1.5 per cent (Rs 48) mirroring NYMEX Crude Oil prices and weak Indian rupee.In the process, the commodity has zoomed almost 8 per cent (Rs 244).

BASE METAL

Copper March future is marginally down at $ 2.577.

MCX Copper February expiry contract ended marginally higher during the last trading day of the week.The prices consolidated the moves above Rs 350 on Monday. Prices are in close proximity to levels of Rs 358 and 360 per kg.

Copper ended the day at Rs 355.35 against 354.60 per kg on Friday.

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