24.02.2015 Free Trading Tips On Commodity

Precious Metals

Gold: At the MCX Gold futures for April 2015 contract closed at Rs 26,277 per 10 gram, up by 0.04 percent after opening at Rs 26,260, against the previous closing price of Rs 26,266. It touched the intra-day high of Rs 26,399 till the closing.

Base Metals & Energy

Natural Gas futures soared in the domestic and overseas market on Friday as investors and speculators booked fresh positions in the energy commodity amid weather forecasts that an arctic chill may extend into early March, lifting the demand outlook for the heating fuel. The MDA Weather Services in Maryland predicted below normal temperatures in the Northeast and Midwest through March 6, 2015.

At the MCX, Natural Gas futures for February 2015 contract closed at Rs 184 per 1 kg, up by 5.6 percent after opening at Rs 174.2, against the previous closing price of Rs 174.3. It touched the intra-day high of Rs 185.9 till the closing.

Copper futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal as robust US manufacturing data showed a pickup in the world’s biggest economy, supporting the demand outlook for the industrial metal. The gauge measuring US manufacturing climbed to 54.3 in February from 53.9 in the previous month, with a reading above 50 signaling expansion.Further, a combined gauge measuring Euro area manufacturing and services rose to 53.5 in February from 52.6 in the previous month, with a reading above 50 signaling expansion, signaling a pickup in the 19-member economy, bolstering demand for copper.

At the MCX Copper futures for February 2015 contract closed at Rs 358.50 per 1 kg, up by 0.48 percent after opening at Rs 357.90, against the previous closing price of Rs 356.80. It touched the intra-day high of Rs 359.30 till the closing.