DAILY COMMODITY MARKET STRATEGY- 3 Mar 2016
BULLION
Silver March future is trading on a firm note in early deals, and is up 1.5 percent at $ 14.955.Gold and Platinum April series are down 0.2 percent each at $ 1,239.40 an ounce and $ 934.40, respectively.
ENERGY
Crude Oil April expiry is unchanged at $ 34.66 per barrel.Brent Oil April contract is quoted at $ 36.85 - down 0.2 percent.Natural Gas April future has added 0.3 percent at $ 1.672.
BASE METAL
Copper March delivery has shed more than half a percent at $2.175.The metal closed at Rs 328.30 per kg on 2 March 2016 against 324.25 per kg on 1 March 2016. With the breach of double top the prices are looking to move towards Rs 335 per kg in the medium term.
The Copper April prices tested levels of Rs 328.75 per kg as highs and Rs 325 per kg as a low. Volumes decline marginally. The total volumes were 37,442 lots on 2 March 2016 against 37593 lots on 1 March 2016.
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