DAILY COMMODITY MARKET STRATEGY-24 Feb 2015

BULLION

Gold and Platinum April futures are trading on a flat note each at $ 1,201.90 and at $ 1,220.35, respectively.Silver March future has gained 0.4 per cent at $ 16.370.

Gold prices declined during session ending Monday.The prices ended the day at Rs 26,153 per 10 grams on 23 Feb 2015 against Rs 26,277 per 10 grams on 20 Feb 2015.

Correction below Rs 26,000 and Rs 25,800 are the immediate suport zones.

ENERGY

Crude Oil March future is trading on a flat note at $ 49.55.Brent Oil April future has advanced 0.5 per cent at $ 59.22.Natural Gas March future has added 0.4 per cent at $ 2.893.

The Crude Oil MCX March futures extended losses for the fifth day in row and slipped below the key moving averages like 50-DMA and 20-DMA, before settling - with a significant loss of around nearly 4 per cent (Rs 119) at Rs 3,096 following NYMEX Crude Oil prices on stronger dollar.

In the process, the commodity has tanked around 8 per cent (Rs 256).

BASE METAL

Copper March future has shed over 0.5 per cent at $ 2.572.

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