MCX GOLD, BASE METAL TIPS OF 12/03/2015

 Precious metals:

At the MCX Gold futures for April 2015 contract closed at Rs 25,919 per 10 gram, down by 0.40 per cent after opening at Rs 25,962, against the previous closing price of Rs 26,024. It touched the intra-day low of Rs 25,780 till the closing.

Base Metals and Energy:

Crude Oil prices rose by 0.78 per cent on Wednesday at the domestic markets after data showed US crude stocks fell for the first time in two months indicating that the demand for the commodity in US is strong. US crude inventories fell by 404,000 barrels last week. Analysts had expected a 4.4 million barrel build in stocks. At the MCX, crude oil futures for March 2015 contract were trading at Rs. 3,085 per barrel, up by 0.78 per cent, after opening at Rs. 3,069 against the previous closing price of Rs. 3,061. It touched the intra-day high of Rs. 3,094 till the trading.

Copper prices rose by 0.44 per cent on Wednesday at the domestic markets after data showed that China's factory output grew less than expected in the first two months of the year, adding to pressure on policymakers to introduce broad-based stimulus measures which raised the demand outlook for the metal. At the mcx copper futures for April 2015 contract were trading at Rs.369.30 per 1 kg, up by 0.44 per cent, after opening at Rs. 369.30 against the previous closing price of Rs. 367.70. It touched the intra-day high of Rs. 370.80 till the trading.

 Market Statistics:

COMMODITY	TREND	S2	S1	PIVOT POINT	R1	R2
GOLD	DOWN	25466	25575	25763	25872	26060