DAILY COMMODITY MARKET STRATEGY-9 Apr 2015

BULLION

Gold June future has declined 0.5 per cent at $ 1,197.20.Silver May and Platinum July series have shed over 0.5 per cent each at $ 16.348 and $ 1,160.15, respectively.

ENERGY

Crude Oil May delivery has jumped more than a per cent to $ 51.05.Brent Oil May future has gained 0.3 per cent at 56.20.Natural Gas May contract is trading on a flat note at $ 2.624.

After facing strong resistance above the higher-end of the Bollinger Band and surging more than 8 per cent in the past two trading session, the MCX April Crude Oil futures saw a U-tern in yesterday's trade on account of profit-taking.

On Wednesday, the energy futures tested a low of Rs 3,166, before signing off the day - with a significant loss of over 3 per cent (Rs 143) at Rs 3,182.

Crude Oil prices are moderately below the higher-end of the Bollinger Band (Rs 3,310). The commodity may trade with a negative bias as long as energy futures trade below Rs 3,310-odd level.

BASE METAL

Copper May future is trading lower by 0.2 per cent at $ 2.729.

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