DAILY COMMODITY MARKET STRATEGY-11 Feb 2015
Gold April future has gained 0.4 per cent in early morning session at $ 1,236.70.Silver March contract has advanced over 0.5 per cent at $ 16.983.Platinum April delivery has added 0.2 per cent at $ 1,211.60.
Crude Oil March future has spurted around a per cent at $ 50.46.Brent Oil April expiry has tumbled over a per cent to $ 57.20.Natural Gas March contract is down 0.2 per cent at $ 2.687.
The MCX Crude Oil February futures tumbled for the first time in last past trading sessions. On Thursday, the energy contracts hit a low of Rs 3,144 per barrel, before closing with a significant loss of 4.3 per cent (Rs 141) to Rs 3,167 on account of profit-booking in global Crude Oil prices as IEA expected inventories to rise.
Copper March future is marginally down at $ 2.547.
MCX Copper February expiry contract ended lower in the second session of the week. However prices remained above Rs 450 per kg. The metal has seen choppy moves and prices are now trying to form a range of Rs 345 and 360 per kg.