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Friday, 20 January 2017

DAILY COMMODITY MARKET STRATEGY- 20 Jan 2017

Best Commodity Tips

BULLION

Gold February future has advanced 0.5 percent at 1,207 per ounce.Silver March contract has gained 0.3 percent at $ 2.618.Platinum April delivery is also up 0.4 percent at $ 965.Finally some correction was noted in the prices of MCX Refined gold. Levels of INR 28,800 per 10 grams was noticed during the closing, with an down tick of 0.8 percent.The prices also surpassed INR 28,571 per 10 grams which means that further appreciation will remain active. If gains occur from here it can take yellow metal towards INR 28,650 and 28,700 per 10 grams.On lower side, Gold will be supported at Rs 28,400 per 10 grams. The high of Gold was at INR 28,646 per 10 grams and a low of INR 28,460 per 10 grams was tested during the day. The prices closure below INR 28,400 per 10 grams will be critical.

ENERGY

Crude Oil February and Brent Oil March series have added 0.4 percent at $ 52.29 and $ 54.38 a barrel.Natural Gas February expiry is unchanged at $ 3.304.

BASE METAL

Copper March delivery is quoted at $ 2.618 - up 0.3 percent.

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