DAILY COMMODITY MARKET STRATEGY- 21 Mar 2016
BULLION
Silver May future has added 0.3 percent in early deals at $ 15.855.Gold April contract is slightly down at $ 1,253.70 per ounce.Platinum April delivery has declined 0.3 percent at $ 970.30.
ENERGY
Crude Oil May expiry has slipped almost a percent at $ 40.77 per barrel.Brent Oil May future has shed 0.5 percent at $ 41.01.Natural Gas April contract has also moved down 0.4 percent at $ 1.887..
On the higher side gains are expected towards Rs 2,900 per barrel on MCX Crude Oil April futures. Open interest was 14,942 against 11250 on 17 March 2016. Volumes of Crude Oil were 88,989 on 18 March 2016 against 41,665 on 17 March 2016.
BASE METAL
Copper May delivery is marginally down at $ 2.284.The metal closed at Rs 337.55 per kg on 18 March 2016 marginally down from Rs 338.60 per kg on 17 March 2016. The prices of Copper April future tested levels of Rs 343.85 per kg as highs and Rs 336.30 per kg as a low. Volumes lost in the intraday session on 18 March 2016.
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