DAILY COMMODITY MARKET STRATEGY-13 Aug 2015

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BULLION

Gold December future is down 0.3 percent in early morning deals at $ 1,120.70.Silver September contract has dropped almost a percent at $ 15.330.Platinum October delivery has declined 0.3 percent at $ 997.75.

ENERGY

Crude Oil, Natural Gas September and Brent Oil October series are all flat at $ 43.28, $ 2.923 and $ 50.22, respectively.

On MCX August contract ended at Rs 2,821 per barrel on 12 August 2015 against Rs 2,780 per barrel on 11 August 2015.Open interest was lower due to increase of long liquidation. It is expected that prices will now move towards Rs 2,850 per barrel.
On Wednesday, Crude Oil tested a high of Rs 2,850 and a low of Rs 2,781 per barrel.

BASE METAL

Copper September future shed over 0.5 percent at $ 2.335.Copper ended the day at Rs 338.40 against 332.40 per kg on 10 Aug 2015.

On Thursday trading gains are expected to get resisted at Rs 340 and 342 per kg. Meanwhile support for Copper is at Rs 335 and Rs 332 per kg.The low for Copper Wednesday was at Rs 328.85 per kg, and a high of Rs 338.95 per kg was noted.

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