Thursday, 5 January 2017

DAILY COMMODITY MARKET STRATEGY- 5 Jan 2017

BULLION

Gold February future has advanced around a percent at $ 1,173 per ounce.Silver March contract has gained 0.5 percent at $ 16.638.Platinum April delivery has jumped over a percent at $ 957.Refined gold prices declined during last night. Levels of INR 27,685 per 10 grams was noticed during the closing, with gains of 0.33 percent. Till the prices of Gold are below INR 27,800 there are less chances that the prices will see any extreme moves on higher side.If gains occur from here it can take yellow metal towards INR 27,800 and 27,850 per 10 grams. On lower side, Gold will be supported at Rs 27,600 per 10 grams.The high of Gold was at INR 27,815 per 10 grams and a low of INR 27,657 per 10 grams was tested during the day. The prices closure above INR 27,800 per 10 grams will be critical.

ENERGY

Crude Oil February and Brent Oil March series are down 0.2-0.3 percent each at $ 53.15 and $ 56.30 a barrel, respectively.Natural Gas February expiry has declined 0.5 percent at $ 3.237.

BASE METAL

Copper March delivery is marginally up at $ 2.561.

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