DAILY COMMODITY MARKET STRATEGY- 16 Dec 2015

BULLION

Silver March 2016 future has gained 0.5 percent at $ 13.835.Platinum January contract has advanced over 0.5 percent at $ 861.40.Gold February delivery has added 0.3 percent at $ 1,064.70.

Gold declined in intraday trades on MCX on Tuesday. The session on Tuesday was critical in terms of trading swings. Gold prices were seen at Rs 25,266 per 10 grams at the last tick on 15 December 2015 down 0.3 percent 14 August 2015.

ENERGY

Crude Oil January expiry has tumbled almost a percent at $ 36.98.Brent Oil February and Natural Gas January series are trading soft at $ 38.53 and $ 1.806, respectively.

On Tuesday, Crude Oil December tested a high of Rs 2,537 and a low of Rs 2,421 per barrel. Open interest of Crude Oil was at 29,670 on 15 December 2015 against 38,784 a day before.

BASE METAL

Copper March contract has spurted more than half a percent at $ 2.067.On Wednesday trading gains are expected to get resisted at Rs 317 and 319 per kg. Meanwhile support for Copper February future is at Rs 306 and Rs 305 per kg. The high for Copper Tuesday was at Rs 316.40 per kg, and a low of Rs 307.45 per kg was tested.

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