Commodity Trading Tips Of 23.02.2015

Precious Metals

At the MCX Gold futures for April 2015 contract closed at Rs 26,266 per 10 gram, up by 0.49 percent after opening at Rs 26,245, against the previous closing price of Rs 26,137. It touched the intra- day high of Rs 26,510 till the closing. 

Base Metals & Energy

Natural Gas futures ended flat in the domestic market on Thursday as investors and speculators stayed cautious over booking fresh positions in the energy commodity even as forecasts for an arctic chill in the eastern half of the US lifted the demand outlook for the heating fuel. US supplies fell by 111 billion cubic feet to 2.157 trillion cubic feet in the week ended February 13, 2015, largely in line with expectations. At the MCX, Natural Gas futures for February 2015 contract closed at Rs 174.30 per 1 kg, unchanged after opening at Rs 175, against the previous closing price of Rs 174.3. It touched the intra-day high of Rs 179.3 till the closing.

Zinc futures closed lower in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Meanwhile, Japanese exports rose at the fastest pace in more than a year last month, signaling a strengthening recovery in the world’s third biggest economy, and lifting the demand outlook for industrial metals, trimming losses in the base metal. Japanese exports rose by 17 percent in January from a year ago, the biggest jump since late 2013. At the MCX, Zinc futures for February 2015 contract closed at Rs 128.75 per 1 kg, down by 0.54 percent after opening at Rs 129.15, against the previous closing price of Rs 129.45. It touched the intra-day low of Rs 128.35 till the closing.trend at domestic spot markets on subdued demand from battery makers mainly led to a fall in lead prices at futures trade here.