DAILY COMMODITY MARKET STRATEGY-13 Apr 2015

BULLION

Gold June future is marginally up in early trade at $ 1,205.70.Silver May delivery has gained 0.2 per cent at $ 16.413.Platinum July contract has moved down 0.2 per cent at $ 1,170.85.

ENERGY

Crude Oil May future has advanced 0.4 per cent at $ 51.82.Brent Oil June contract is slightly up at $ 59.00.Natural Gas May future has shed almost a per cent at $ 2.490.

The MCX Crude Oil April futures ended on a positive note for the second straight day. On Friday, the energy contracts tested support around the 50-DMA at Rs 3,132, but however recovered losses and ended with a mere gain of 0.2 per cent at Rs 3,220 as value-buying continued.

The April MCX Natural Gas futures are seeking support at the lower-end of the Bollinger Band on the daily charts for the past two trading sessions. On Friday, the energy futures ended with a loss of 0.4 per cent at Rs 158 as selling continued.

BASE METAL

Copper May delivery has added 0.3 per cent at $ 2.742.

MCX Copper April expiry contract gained on Friday though on a marginal basis. Prices inched closer to Rs 380 that is acting as a formidable resistance.

Copper ended the day at Rs 377 on 10 April 2015 against 376.30 per kg on 9 April 2015.On Monday trading gains are expected to get resisted at Rs 383 and 380 per kg. Meanwhile support for Copper is at Rs 374 and 372 per kg.

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