DAILY COMMODITY MARKET STRATEGY-7 Apr 2015

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BULLION

Gold June and Platinum July futures have shed 0.4 per cent each at $ 1,214.20 and $ 1,173.15.Silver May future has dropped over a per cent at $ 16.918.

Gold prices ended higher Monday but shying away from Rs 27,000. The prices ended the day at Rs 26,997 per 10 grams on 6 April 2015 against Rs per 10 grams on 26,597 on 2 April 2015.Resistance for Gold is towards Rs 27,100 and Rs 27,200. Supports in Gold towards Rs 26,800 is active.

ENERGY

Crude Oil May future has slipped 0.7 per cent at $ 51.77.Brent Oil May future has moved down 0.6 per cent at $ 57.56.Natural Gas May future has gained 0.3 per cent at $ 2.659.

Crude oil prices gained marginally on Monday to end the session at Rs 3,254. The prices of Crude Oil has now been moving near crucial psychological resistance of Rs 3,300 per barrel.Gains above those levels on closing basis will be the only trigger for the commodity.

BASE METAL

Copper May future has spurted around a per cent at $ 2.738.MCX Copper April expiry contract lost on Monday on the back of profit booking. Prices inched closer to Rs 370 that is acting as a formidable support base.Copper ended the day at Rs 374.20 on 6 April 2015 against 375.50 per kg on 2 April 2015.

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