DAILY COMMODITY MARKET STRATEGY-4 May 2015

BULLION

Gold June and Silver July futures have spurted almost a percent each at $ 1,182.90 and $ 16.273, respectively.Platinum July contract has added 0.2 percent at $ 1,134.15.

MCX Gold prices are below the key moving averages like the 20-DMA (Rs 26,810) and 200-DMA (Rs 26,945). The yellow metal may trade with a negative bias as long as prices trade below Rs 26,810-odd level.

Gold futures slip further the June contracts are likely to seek support around Rs 26,440-odd level - which is the 50-DMA (Daily Moving Average).

ENERGY

Crude Oil and Brent Oil June series have declined 0.3 percent each at $ 58.95 and $ 66.30, respectively.Natural Gas June contract is down 0.2 percent at $ 2.769.

BASE METAL

Copper July future has dropped over a percent at $ 2.902.

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