DAILY COMMODITY MARKET STRATEGY-13 Mar 2015

BULLION

Gold and Platinum April futures have gained 0.7 per cent each at $ 1,159.50 and at $ 1,123.45, respectively.Silver May future has jumped nearly a per cent at $ 15.648.

ENERGY

Crude Oil Brent Oil and Natural Gas April futures are up 0.3 per cent each at $ 47.17, $ 57.28 and $ 2.747.

The March MCX Crude Oil futures tumbled for the third day in row, owing to step fall in NYMEX Crude Oil prices amid an unexpected decline in US retail sales.

On Thursday, the energy futures tested a high at Rs 3,059, but however shaved-off gains and ended with a loss of 0.6 per cent (Rs 18) at Rs. 2,982.In the process, the commodity has cracked nearly 6 per cent (Rs 181).

The MCX March futures for Natural Gas corrected after facing strong resistance above the 20-DMA (Rs 174) and 50-DMA (Rs 176) on the daily charts.

Yesterday, the energy futures rallied to a high of Rs 180, but however wiped out all the gains and ended with a significant loss of 3.7 per cent at Rs 172 following NYMEX Natural Gas prices despite data showed that US Natural Gas supplies fell more than expected last week.

BASE METAL

Copper May future has gained 0.7 per cent at $ 2,678.    

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