28.02.2015 Free Trading Tips On Commodity

Precious Metal:

At the MCX Gold futures for April 2015 contract is trading at Rs 26,178 per 10 gram, down by 0.14 per cent after opening at Rs 26,240, against the previous closing price of Rs 26,216. It touched the intra-day low of Rs 26,151 till the closing.

Base Metals

Natural Gas futures plunged in the domestic market on Thursday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as US gas supplies fell less than expected last week signaling weak demand for the heating fuel despite frigid weather. US gas stockpiles fell 219 billion cubic feet to 1.938 trillion cubic feet in the week ended February 20, compared to analysts’ estimates for a drop of 241 billion cubic feet.

At the MCX, Natural Gas futures for March 2015 contract closed at Rs 169.10 per 1 kg, down by 4.73 per cent after opening at Rs 179.30, against the previous closing price of Rs 177.50. It touched the intra-day low of Rs 168.10 till the closing.

Copper futures rose in the domestic market on Friday as a rebound in US durable goods orders last month signaled a pickup in the world’s biggest economy, lifting the demand outlook for the base metal.Bookings for US goods meant to last at least three years rose for the first time in three months, up 2.8 per cent in January from December when they fell a revised 3.7 per cent. Further, speculation that policymakers in China may boost stimulus to stem a slowdown in the world’s biggest copper consumer lifted demand outlook for copper.Chinese Premier Li Keqiang urged the need for a more active fiscal policy, while a central bank publication called for additional monetary easing to boost demand and economic growth.

At the MCX Copper futures for February 2015 contract closed at Rs 369.45 per 1 kg, up by 0.16 per cent after opening at Rs 367, against the previous closing price of Rs 368.85. It touched the intra-day high of Rs 369.95 till the closing.