DAILY COMMODITY MARKET STRATEGY-12 Feb 2015
BULLION
Gold April future is trading on a flat note at $ 1,220.60.Silver March contract has shed 0.7 per cent at $ 16.645.Platinum April future has added 0.2 per cent at $ 1,196.65.
ENERGY
Crude Oil March has advanced almost a per cent at $ 49.26.Brent Oil April futures has slipped over 0.4 per cent at $ 56.14.Natural Gas March has added 0.4 per cent at $ 2.816.
The MCX Crude Oil witnessed a sharp fall in the last two trading session. Yesterday, the energy futures seek support at the 20-DMA (Rs 3,002), before signing of the day - with a loss of almost 3 per cent (Rs 92) at Rs 3,075 owing to significant drop in NYMEX Crude Oil prices on ample supplies.
MCX Crude Oil February contract today may face resistance around Rs 3,135-3,154-3,173, while seek support around Rs 3,014-2,995-2,976.
BASE METAL
Copper March future is flat at $ 2.541.
MCX Copper February expiry contract was static during the third day of the week.The metal was volatile but ended the day similar to the last session.
Copper ended the day at Rs 351.30 against 351.70 per kg on Tuesday.
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Gold futures ended lower in the domestic market on Thursday as investors and speculators exited positions in the precious metal as a cease-fire accord in Ukraine eased geopolitical concerns,Foreign Exchange.
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