DAILY COMMODITY MARKET STRATEGY-5 Aug 2015

BULLION

Gold December and Platinum October delivery futures in the early trade have declined 0.4 percent each at $ 1,085.90 and $ 951.75, respectively.Silver September contract has moved down 0.3 percent at $ 14.515.

ENERGY

Crude Oil September delivery has advanced over 0.5 percent at $ 46.02.Brent Oil September future has added 0.2 percent at $ 50.30.Natural Gas September contract is almost unchanged at $ 2.812.

MCX August contract ended at Rs 2,935 per barrel on 3 August 2015 against Rs 2,918 per barrel on 3 August 2015.Crude Oil showed decline in open interest.  It is expected that prices moving below Rs 2,900 now will bring more losses.On Tuesday, Crude Oil tested a high of Rs 2,959 and a low of Rs 2,918 per barrel.

BASE METAL

Copper September expiry is now quoted at $ 2.348 - down 0.2 percent.On Wednesday trading gains are expected to get resisted at Rs 335 and 337 per kg. Meanwhile support for Copper is at Rs 330 and Rs 328 per kg.

The low for Copper Tuesday was at Rs 331.85 per kg, and a high of Rs 336.65 per kg was noted.

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