DAILY COMMODITY MARKET STRTEGY-23 Mar 2015

BULLION

Gold April future has slipped 0.3 per cent at $ 1,181.50.Silver May future has shed over a per cent at $ 16,680.Platinum April future has jumped nearly a per cent at $ 1,135.35.

ENERGY

Crude Oil May future has shed over a per cent at $ 45.99.Brent Oil May future has declined 0.7 per cent at $ 54.79.Natural Gas April future has dropped nearly 2 per cent at $ 2.749.

The MCX Crude Oil April futures moved higher for the second straight day after seeking support below the lower-end of the Bollinger Band.

On Friday, the energy futures tested a high at Rs 2,986, before closing with a significant gain of 3 per cent (Rs 86) at Rs 2,948 on account of renewed buying in NYMEX Crude Oil prices.

MCX Natural Gas prices are hovering between the 20-50-DMAs on the daily charts for the past two trading sessions. Further decline in energy futures may take prices towards the lower-end of the Bollinger Band at Rs 163-odd level on the monthly charts.

BASE METAL

Copper May future has jumped nearly a per cent at $ 2.776.

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