DAILY COMMODITY MARKET STRATEGY-9 Mar 2015

BULLION

Gold April future is up 0.5 per cent at $ 1,169.50.Silver May future is down 0.2 per cent at $ 15.775.Platinum April future has slipped 0.5 per cent $ 1,154.80.

ENERGY

Crude Oil April future has slipped 0.5 per cent at $ 49.42.Brent Oil April future has declined 0.7 percent at $ 59.39.Natural Gas April future has crack 3.4 per cent  $ 2.748.

The MCX Crude Oil March January futures slipped after two strong sessions on Friday. The fall in the commodity was owing to significant decline in volume, which stood at 99,020 lots as compared to 171,078 lots.

The MCX Natural Gas March futures extended gains for the fifth day in row and jumped above the 50-DMA on the back of strong buying from the investors.

On Friday, the energy futures tested a high at Rs 175.50, before signing off the day with a gain of nearly a per cent at Rs 175.50. In the process, the commodity surged 6.5 per cent (Rs 11).

BASE METAL

Copper May future is trading on a soft note at $ 2.606.

The prices closed the last session trades at Rs 366 per kg, down for the second straight day in a row.The supports of MCX Copper are at Rs 362 and 360 per kg levels.

The correction in Copper below Rs 350 is expected to bring heavy declines in the metal.

Get Free Share Market Tips, MCX Tips Free Trial, NCDEX Tips, Commodity Tips, Nifty Futures Tips with profitable calls and tips.