DAILY COMMODITY MARKET STRATEGY-19 Mar 2015
Gold April future has jumped 1.8 per cent at $ 1,172.50.Silver May future has rallied nearly 3 per cent at $ 15,988.Platinum April future has gained 0.6 per cent at $ 1,026.80.
Crude Oil May future dropped over a per cent at $ 46.15.Brent Oil May future has shed 1.7 per cent at $ 55.64.Natural Gas April future is trading on a flat note at $ 2.912.
The MCX March Crude Oil futures after facing strong resistance above the key psychological support the lower-end of the Bollinger Band at Rs 2,752, however reversed its gains in yesterday's trade and ended with a significant loss of over 3.4 per cent (Rs 93) at Rs 2,666 on oversupply worries on US data and ahead of its March series expiry today.
Copper May future has slipped 0.8 per cent at $ 2.604.
MCX Copper April expiry contract closed lower for the fourth day on Wednesday.Copper shyed away from Rs 360 which was proving a crucial support of last week.
Copper ended the day at Rs 358.30 per kg on 18 March 2015 against 368.95 per kg on 17 March 2015.Gains are expected to get resisted at Rs 360-365 per kg today.