DAILY COMMODITY MARKET STRATEGY- 20 Jan 2016

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BULLION

Silver March future has shed over 0.5 percent in early trade at $ 14.035.Gold February expiry has added 0.3 percent at $ 1,092.60 an ounce.Platinum April contract is marginally down at $ 826.

The movement above Rs 26,000 per 10 grams are expected to continue reap benefits for Gold as that is an important trajectory broken by Gold in last few weeks.The prices are getting resisted at Rs 26100 and 26120 per 10 grams. On the lower side, support for Gold February is at Rs 25,900 per 10 grams.

ENERGY

Crude Oil March delivery has extended losses, and is down 1.5 percent at $ 29.15 a barrel.Brent Oil March future has dropped a percent at $ 28.52.Natural Gas February expiry is quoted at $ 2.083 - down 0.4 percent.

Crude Oil was static in the trading session ending Tuesday. The prices have now reached close to range of Rs 2,020 per barrel that is expected to be terminated if a spree of selling begins this week.

BASE METAL

Copper March delivery has gained 0.3 percent at $ 1.974.MCX Copper gained for the second straight day on Tuesday. The prices breached important psychological levels of Rs 300 per kg in January but the closing was still below those levels.

Closing for Copper in last seven sessions has been below Rs 300. Supplies are emerging soon as Copper February future reaches near to Rs 300.

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