DAILY COMMODITY MARKET STRATEGY-24 Jun 2015

BULLION

Gold August future is unchanged in early trade at $ 1,176.60.Silver July contract has added 0.3 percent at $ 15.782.Platinum July delivery is now quoted at $ 1,069 - down 0.2 percent.

Gold appeal tarnished during the last session as prices failed to seek some more support from day traders.The prices ended the day at Rs 26,597 per 10 grams on 23 June 2015 against Rs 26,702 per 10 grams on 22 June 2015.

Resistance for Gold is towards Rs 26,700 and Rs 26,800. Supports in Gold towards Rs 26,500 is active.Gold price tested a high of Rs 26,800 per 10 grams and a low of Rs 26,583 per 10 grams on 23 June 2015.

ENERGY

Crude Oil August future is up 0.2 per cent at $ 61.13.Brent Oil August expiry is marginally down at $ 64.55.Natural Gas August delivery has declined 0.4 percent at $ 2.744.

Crude Oil July tested a high of Rs 3,920 and a low of Rs 3,809 per barrel. Volumes were at lots on 175610 on 23 June 2015 against 118512 on 22 June 2015.

BASE METAL

Copper July future has slightly up at $ 2.615.

MCX Copper June expiry contract gained on the back of short covering. Prices moved above Rs 365 per kg breaking a series of support that were formidable in last one week. Copper ended the day at Rs 367.10 on 23 June 2015 against 360.30 per kg on 22 June 2015.

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