Commodity Trading Tips Of 25.02.2015

Precious Metal

Gold: At the MCX Gold futures for April 2015 contract closed at Rs 26,153 per 10 gram, down by 0.47 percent after opening at Rs 26,228, against the previous closing price of Rs 26,277. It touched the intra-day low of Rs 25,955 till the closing.

Base Metals & Energy

Natural Gas futures ended lower in the domestic market on Monday as investors and speculators booked profits in the energy commodity after prices surged in the previous session when forecasts for a polar blast extending into early March bolstered the demand outlook for the heating fuel. Latest weather forecasting models have called for below normal temperatures in the key US Northeast and Midwest regions through March 6, 2015. At the MCX, Natural Gas futures for February 2015 contract closed at Rs 181.60 per 1 kg, down by 1.3 percent after opening at Rs 186.3, against the previous closing price of Rs 184. It touched the intra-day low of Rs 180.40 till the closing.

Copper futures ended lower in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid tepid demand from China, the world’s biggest metals consumer, with markets being shut for a fourth day on the trot due to the Lunar New Year holidays. Plunging oil prices signaled a worsening health of the global economy, curbing demand prospects for the base metal. Despite a deal between Greece and Euro area finance officials who allowed a four-month funding extension to the debt-laden country, the accord only provided Greece with some breathing space rather than offering a long-term solution to its problems, dimming the demand outlook for copper. A snapshot of national activity in the US edged higher last month, easing worries over a slowdown in the world’s biggest economy, supporting the demand outlook for copper, trimming losses in the base metal. The Chicago Fed National Activity Index rose to 0.13 in January from -0.07 in December, with a reading above zero signaling expansion. Copper may extend losses today as falling US home sales dampen the demand prospects for the metal.

At the MCX Copper futures for February 2015 contract closed at Rs 355.90 per 1 kg, down by 0.25 per cent after opening at Rs 357.90, against the previous closing price of Rs 356.80. It touched the intra-day low of Rs 352.75 till the closing.