DAILY COMMODITY MARKET STRATEGY-29 July 2015

BULLION

Gold December future is almost unchanged in early deals at $ 1,097.Silver September future has added 0.2 percent at $ 14.670.Platinum October future has gained 0.5 percent at $ 989.15.

Gold August towards Rs 24,700 are active. Gold price tested a high of Rs 24,869 per 10 grams on 28 July 2015 and a low of Rs 24,701 per 10 grams.

ENERGY

Crude Oil September future has declined 0.3 percent at $ 47.86.Brent Oil September future is flat at $ 53.14.Natural Gas September future is now quoted at $ 2.833 - up 0.2 percent.

Crude Oil price in India has shed 0.4 percent at Rs 3,071. The MCX counter has seen trades of around 4,697 lots and the open interest has jumped by 1,206-odd lots to 19,607 lots.

BASE METAL

Copper September future has advanced 0.3 percent at $ 2.418.MCX Copper June expiry contract gained marginal ground for session ending 28 July 2015. Copper moved just a shy above Rs 340.

The prices trading above Rs 340 can cause some more long positions to be built. On 28 July 2015, Copper ended the day at Rs 341.40 on against 336.15 per kg on 27 July 2015.

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