DAILY COMMODITY MARKET STRATEGY-16 July 2015

Commodity Tips Expert: - commodity tips , mcx trading tips , bullion commodity tips
BULLION

Gold August and Silver September series are slightly down this morning at $ 1,146.30 and $ 15.043, respectively.Platinum October future has declined 0.5 percent at $ 1,016.60.

Gold prices ended the trades of 15 July 2015 with minor weakness at Rs 25,847 per 10 grams against Rs 25927 per 10 grams. These are the lowest levels of Gold seen since March 2015.The prices of MCX Gold tested a high of Rs 25,970 per 10 grams, while low for Gold was at Rs 25,764 per 10 grams. Further weakness is likely to take the prices in unchartered territory.

ENERGY

Crude Oil August contract has jumped a percent at $ 51.95.Brent Oil September contract has advanced 0.5 percent at $ 57.67.Natural Gas August future is almost unchanged at $ 2.921.

Crude oil moved below Rs 3,350 per barrel in the intra day session. The prices have been sinking to lower highs from last 12-15 days.Crude Oil ended at Rs 3,333 per barrel on 15 July 2015 against Rs 3,395 per barrel on  14 July 2015.

BASE METAL

Copper September delivery has added 0.3 percent at $ 2.521.MCX Copper June expiry contract lost marginal ground for session ending 15 July 2015. Prices have been in the range of Rs 345-365 per kg.

There has been selling from highs of Rs 362-360. On 15 July 2015, Copper ended the day at Rs 356.35 against 358.10 per kg on 14 July 2015.On Tuesday trading gains are expected to get resisted at Rs 362 and 364 per kg. Meanwhile support for Copper is at Rs 356 and Ra 354 per kg.

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Commodity Tips Expert: - commodity tips , mcx trading tips , bullion commodity tips

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