DAILY COMMODITY MARKET STRATEGY-3 Mar 2015

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BULLION

Gold April future is down 0.2 per cent at $ 1,206.10.Silver May future is up 0.5 per cent at $ 16.513.Platinum April has slipped 0.3 per cent at $ 1,184.80.

ENERGY

Crude Oil and Brent Oil April futures have gained 0.6 per cent each at $ 49.88 and $ 60.23, respectively.Natural Gas April future has slipped 0.3 per cent at $ 2.673.

The MCX March Crude Oil futures rallied for the second straight day and jumped above the 50-DMA (Rs 3,140) to face resistance around the 20-DMA at Rs 3,117, before closing with a significant gain of around 3 per cent (Rs 85) at Rs 3,149 on the back of fresh buying.

BASE METAL

Copper May future has shed 1.2 per cent at $ 2.662.

MCX Copper April expiry contract closed higher on Monday.Copper has been consolidating the position above Rs 365 and 370 per kg.The metal has surpassed the psychological resistance of Rs 370 per kg.

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