DAILY COMMODITY MARKET STRATEGY-3 Aug 2015

BULLION

Gold December future is almost unchanged in early deals at $ 1,090.50.Silver September contract is down 0.2 percent at $ 14.715.Platinum October delivery is marginally down at $ 984.

Gold August future is towards Rs 25,150 and Rs 25,200. Supports in Gold towards Rs 24,800 are active. Gold price tested a high of Rs 25,189 per 10 grams on 31 July 2015 and a low of Rs 24,705 per 10 grams.

ENERGY

Crude Oil September future gas declined over 0.5 percent t $ 46.86.Brent Oil September expiry has added 0.3 percent at $ 51.94.Natural Gas September delivery has jumped over a percent at $ 2.744.

MCX August contract ended at Rs 3,038 per barrel on 31 July 2015 against Rs 3,132 per barrel on 30 July 2015.Crude Oil August showed increase in open interest.  It is expected that prices moving above Rs 3,000 will bring more losses.

BASE METAL

Copper September future is trading on a flat note at $ 2.353.

On Monday trading gains are expected to get resisted at Rs 342 and 345 per kg. Meanwhile support for Copper August is at Rs 334 and Rs 330 per kg.

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