DAILY COMMODITY MARKET STRATEGY-28 July 2015
Gold December and Silver September futures have declined 0.2 percent each at $ 1,094.10.Platinum October future is also trading with a loss of 0.2 percent at $ 981.00.
The session for Monday was critical in terms of trading swings. The prices ended the day at Rs 24,899 per 10 grams on 27 July 2015 against Rs 24,731 per 10 grams on 24 July 2015.Resistance for Gold is towards Rs 24,950 and Rs 25,000. Supports in Gold towards Rs 24,800 are active.
Gold price tested a high of Rs 25,018 per 10 grams on 24 July 2015 and a low of Rs 24,756 per 10 grams.
Crude Oil September future has dropped over 0.5 percent at $ 47.13.Brent Oil September future has added 0.4 percent at $ 53.09.Natural Gas September future has shed 0.3 percent at $ 2.784.
Copper September future has jumped almost a percent at $ 2.367.The prices trading below Rs 340 can cause the pain in prices to aggravate as this marks free fall from psychological barrier.
On 27 July 2015, Copper ended the day at Rs 336.15 on against 340.25 per kg on 24 July 2015. The progress of declines again got vigor in new session. Potential of Copper reaching close to Rs 325 looks strong at this juncture as even Rs 345 is not broken.
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