DAILY COMMODITY MARKET STRATEGY- 4 Jan 2016

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BULLION

Silver March future has advanced 0.5 percent at $ 13.875.Gold February delivery has added 0.3 percent at $ 1,063.10 an ounce.Platinum April contract has shed almost a percent at $ 884.75.

ENERGY

Crude Oil February future is showing strong gains, and is up almost 2 percent to $ 37.75 a barrel.Brent Oil February contract has also spurted over a percent at $ 37.75.Natural Gas February expiry has dropped a percent at $ 2.328.

Prices of Crude Oil was sideways in the session ending Friday.Open interest was 31,423 on 1 Jan 2016 against 31484 lots a day before. Crude Oil tested a high of Rs 2,497 and a low of Rs 2,465 per barrel.

BASE METAL

Copper March future has witnessing losses, and is down over 1.5 percent at $ 2.101.Copper gained in the trading session ending Friday.The prices of MCX Copper February have been trading between Rs 308 and 320 in last one week. On Monday, trading gains are expected to get resisted at Rs 318 and 320 per kg.

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