DAILY COMMODITY MARKET STRATEGY- 27 Jan 2016

BULLION

Silver March future has declined 0.5 percent in early deals at $ 14.485.Platinum April future has gained 0.4 percent at $ 879.50.Gold February future is marginally up at $ 1,121.30 an ounce.

Monday's almost a percent (Rs 227) rally, the shiny yellow metal started the day higher by Rs 63 at Rs 26,450 per 10 grams.Right now, MCX Gold February future prices are up 1.3 percent (Rs 353) at Rs 26,740.

ENERGY

Crude Oil March future is witnessing selling pressure, and is down over 2.5 percent to $ 30.62 a barrel.Brent Oil April future has advanced 0.5 percent at $ 31.91.Natural Gas March future is quoted at $ 2.148 - down 0.2 percent.

The open interest gained sharply as short positions were squared off in an opportunity to seek some gains. Crude Oil February expiry contract closed at Rs 2,100 per barrel on 25 Jan 2016 against 2158 per barrel on 22 Jan 2016.

BASE METAL

Copper March future is up 0.2 percent at $ 2.041.Open interest picked up marginally in the trading session. The Copper February future prices closed at Rs 300.85 per kg on 25 January 2016, against Rs 301.25 per kg on 22 Jan 2016.

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