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Showing posts with label Best Commodity Tips. Show all posts
Showing posts with label Best Commodity Tips. Show all posts

Tuesday, 16 October 2018


BULLION:-

There Gold prices held steady on Wednesday despite a rise in equities, with investors waiting for minutes from the US Federal Reserve's latest policy meeting for any fresh clues on the pace of interest rate hikes. Spot gold was up 0.1 per cent at $1,224.70 an ounce at 0100 GMT. On Monday, it touched its highest since July 26 at $1,233.26 an ounce. US President Donald Trump heaped more criticism on the Fed in an interview with Fox Business Network on Tuesday, extending his discontent beyond its chairman, Jerome Powell, whom he has frequently critiqued in public. Past US presidents have been reticent to criticize the central bank because its independence is seen as important for economic stability. But Trump in the past week has called the Fed "crazy," "loco," "ridiculous," and "too cute". Asian equities got some much needed relief on Wednesday after upbeat US earnings reports drove a rebound on Wall Street and helped restore a little confidence in emerging market stocks and currencies. 

METALS:-

On Tuesday, bargain-seekers pushed up LME copper to the daily moving average from early lows before a rally in US stocks rally that was fuelled by earnings and weighed on the dollar further bolstered LME copper to a high of $6,252.5/mt. The contract fell back to the daily moving average by close. The SHFE 1811 contract traded range bound in negative territory overnight. China factory prices slowed in September, indicating a potential slowdown in profit growth across Chinese manufacturers in the fourth quarter amid the ongoing trade war with the US. This is set to weigh on copper prices. LME copper is likely to trade at $6,200-6,250/mt today with SHFE copper at 50,000-50,500 yuan/mt. In the physical market, sellers are keen to cash in under the pressure from cash flows and existing stocks while downstream consumers hold back from purchases. While sellers lowered offers, trades remain sluggish. Spot discounts are seen at 60-20 yuan/mt today.


ENERGY:-

Oil prices extended gains into a fourth session on Wednesday, buoyed as industry data showed a surprise decline in U.S. crude inventories and as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked supply worries. U.S. West Texas Intermediate crude CLc1 was up 15 cents, or 0.2 percent, at $72.07 a barrel by 0255 GMT on Wednesday, having settled up 14 cents. U.S. crude inventories fell by 2.1 million barrels last week, compared with analyst expectations for a build of 2.2 million barrels, American Petroleum Institute data showed after Tuesday's settlement. U.S. gasoline stocks dropped by a larger-than-expected 3.4 million barrels, while distillate fuel stockpiles declined by a smaller-than-expected 246,000 barrels, the API data showed.




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Sunday, 14 October 2018


BULLION:-

There were a recent combination short covering and a flight to safety that lead to gold's rapid increase in price with the precious metal climbing through the descending channel's resistance to set a fresh high of $1,226/oz up from $1,180 recent double bottom lows. However, US equity markets set a firmer tone on Friday with respect to investor risk appetite which leaves gold bulls exposed to the risk of a deeper correction should market's continue to recover - Gold had already retreated back to $1,216 which has been marked out by the bears in the last two full day's of trade since its advance.  Eyes will stay focussed on US rates, the US dollar and stock markets with investor sentiment on shaky grounds considering the heightened tensions with respect to global trade relations and geopolitical risks

METALS:-

London copper reversed some early gains on Friday as the dollar climbed. The SHFE 1812 contract on Friday night fell below the daily moving average and ended at 50,720 yuan/mt after it rose to a high of 51,090 yuan/mt. Copper prices recovered as the markets settled from the US equity rout. In late trading on Friday, LME nickel lost all the gains it made earlier in the day and fell to a low of $12,610/mt before hovering around $12,670/mt and settling at $12,685/mt. The SHFE 1811 contract on Friday night rebounded to hover around 105,000 yuan/mt and end at 104,950 yuan/mt after it fell to a low of 104,430 yuan/mt. SHFE nickel prices are likely to remain rangebound as supply and demand both grow. LME nickel is expected to hover around $12,650/mt today and the SHFE 1811 contract is expected to trade at 104,000-106,000 yuan/mt. Spot prices are seen at 104,000-111,000 yuan/mt

ENERGY:-


Crude oil futures rose on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand dragged on prices. "The market has again expressed concerns over geopolitical tensions in the Middle East after U.S. and Saudi traded comments over the disappearance of the Saudi journalist, leading to a jump in prices," Wang Xiao, head of crude research with Guotai Junan Futures, wrote in a research note. Saudi Arabia has been under pressure since Jamal Khashoggi, a prominent critic of Riyadh and a U.S. resident, disappeared on Oct. 2 after visiting the Saudi consulate in Istanbul. Kingdom would retaliate against possible economic sanctions taken by other states over the case, its state news agency SPA reported on Sunday quoting an official source.


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Thursday, 11 October 2018


BULLION:-
Gold edged down on Friday but held near an over two-month high hit in the previous session, when prices surged over 2 percent as a rout in global stock markets boosted the metal's safe-haven appeal. Spot gold was down 0.2 percent at $1,221.06 an ounce at the time of writing. On Thursday, it jumped about 2.5 percent after marking its highest since July 31 at $1,226.27. That was also the metal's best one-day percentage gain since June 2016. U.S. gold futures were down 0.3 percent at $1,224.50 an ounce. Worries about the economic impact of the Sino-U.S. trade war, a spike in U.S. bond yields this week and caution ahead of earnings seasons have all been cited as potential reasons behind the selloff, the biggest market rout since February.

METALS:-
London aluminium steadied on Friday after metals were caught in a widespread market sell-off this week, but it was set for its biggest weekly drop since June as concerns over raw material costs eased. LME aluminium had edged up 0.3 percent to $2,027 a tonne at the time of writing - still holding above the $2,000 level that has been its base since April. Prices were on course for a loss of nearly 4 percent this week, extending 2018's drop to 11 percent. Putting downward pressure on raw material costs, aluminium maker Norsk Hydro said it would resume half production at its giant Brazilian alumina plant, just days after declaring it would shut down completely. Shanghai Futures Exchange copper rose half a percent to 50,450 yuan ($7,312) a tonne. Open interest in China's copper contract is the lowest in 15 months. U.S. President Donald Trump warned on Thursday there was much more he could do that would hurt China's economy further, showing no signs of backing off an escalating trade war with Beijing.  

ENERGY:-

Oil prices steadied on Friday after a market rout driven by sharp falls in equity markets and indications that supply concerns have been overblown, but were still on track for a fall or more than 4 percent for the week. U.S. West Texas Intermediate (WTI) crude futures were up 11 cents at $71.08 a barrel, after falling 3 percent in the previous session to the lowest since Sept. 21. U.S. crude inventories rose by 6 million barrels last week, the Energy Information Administration said, more than double analysts' expectations of a 2.6 million-barrel increase. The Organization of the Petroleum Exporting Countries cut its forecast of global demand growth for oil next year for a third straight month, citing headwinds facing the broader economy from trade disputes and volatile emerging markets. OPEC sees the oil market as well supplied and is wary of creating a glut next year, the group's secretary-general said on Thursday.


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Thursday, 4 October 2018


BULLION:-

Gold prices held steady early Friday as investors remained cautious after U.S. Treasury yields hit multi-year peaks and ahead of monthly employment data, which if stronger could boost the Federal Reserve’s case for a tighter monetary policy. Spot gold was flat at $1,199.20 an ounce at the time of writing. Spot gold was on track to gain 0.6 percent for the week, which would mark its biggest weekly gain since the week of Aug. 24. U.S. gold futures rose 0.1 percent to $1,202.90 an ounce. The U.S. Treasuries market’s two-day selloff pushed its volatility to its highest level since June as investors shed their bond holdings on surprisingly strong economic data and signals the Fed would raise interest rates further. Higher interest rates tend to boost the dollar and push bond yields up, putting pressure on gold prices by increasing the opportunity cost of holding nonyielding bullion. The dollar index against a basket of six major currencies was little changed at 95.765, after climbing to a six-week peak of 96.121 in the previous session.  

METALS:-

London aluminum held its ground on Friday as worries over an alumina shortage stoked cost inflation concerns, sending prices towards the biggest weekly gain in nearly six months. London Metal Exchange (LME) aluminium was little changed at $2,167 a tonne, down just 0.1 percent after hitting its loftiest since June at $2,267 the session before. Prices were on track for a 5.8 percent weekly rise, the biggest since April. The Brazilian state of Para on Thursday said it was surprised when Norsk Hydro decided a day earlier to halt operations at Alunorte, the world’s largest alumina refinery, and asked for a report explaining the decision. Other metals came under pressure from a stronger dollar. LME copper eased by 1.63 percent to $6,228 in the previous session, after the U.S. currency was boosted by solid demand for Treasuries following a strong payrolls report. The Shanghai Futures Exchange remains closed for the Golden Week holiday and will reopen on Monday.  

ENERGY:-


Oil prices rose on Friday, as traders focused on U.S. sanctions against Iran’s crude exports that are set to start next month to tighten global markets. The gains helped claw back some of the losses from the previous session due to rising U.S. inventories and after Saudi Arabia and Russia said they would raise output to at least partly make up for expected disruptions from Iran. International benchmark Brent crude oil futures were at $84.98 per barrel at the time of writing, up 40 cents, or 0.5 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 50 cents, or 0.7 percent, at $74.83 a barrel. Overall oil market sentiment is bullish. Financial traders have accumulated bullish long positions betting on a further rise in prices amounting to almost 1.2 billion barrels of oil. Meanwhile, the number of short positions in the six most important petroleum futures and options contracts has fallen to the lowest level since before 2013, creating a near-record imbalance between bullish and bearish positions in financial crude markets. 


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Wednesday, 3 October 2018


BULLION:-

Gold prices edged up on Wednesday after gaining over 1 percent in the previous session, buoyed by safe-haven demand as Italy’s budget plan sets it on course for a potential clash with the European Union. Risk appetite was hit after EU officials expressed concerns about Italy’s budget plan, which would widen the deficit significantly. The deficit blowout revived fears of the eurozone debt crisis and put pressure on the euro. Italy’s government has no intention of leaving the euro, Claudio Borghi, the economics spokesman of the right-wing League, said on Tuesday, clarifying earlier remarks which had roiled financial markets. Italy is totally committed to the euro and any critical comments about the single currency are individual opinions which have nothing to do with the government’s policies, Prime Minister Giuseppe Conte said on Tuesday. In other development, China’s hopes of negotiating a free trade pact with Canada or Mexico were dealt a sharp setback by a provision deep in the new U.S.- Mexico-Canada trade agreement that aims to forbid such deals with “non-market” countries, trade experts said on Tuesday. U.S. Federal Reserve Chairman Jerome Powell on Tuesday hailed a “remarkably positive outlook” for the U.S. economy that he feels is on the verge of a “historically rare” era of ultra-low unemployment and tame prices for the foreseeable future.  

METALS:-

Copper prices advanced on Wednesday as President Trump touted the renegotiated NAFTA deal between the US, Mexico, and Canada as "truly historic news for our nation and indeed for the world." Trump, who has long railed against NAFTA, said the new agreement will be a boon for the US economy. Trump said the new deal would be the "most balanced trade agreement in the history of our country with the most advanced protection for workers." Copper inventories in LME warehouses at 199,125 tonnes have nearly halved since late March and are at their lowest since December last year. Canceled warrants - material earmarked for delivery - at more than 50 percent of total LME stock and a concentration of warrants in the hands of a single entity is also worrying for users of the exchange. One party currently holds between 50 and 79 percent of copper warrants, data showed.  

ENERGY:-


Oil prices were firm on Wednesday on expectations of tighter markets once U.S. sanctions target Iran’s petroleum industry from next month, although a strong dollar and rising U.S. crude supply curbed gains. U.S. West Texas Intermediate (WTI) crude futures were up just 1 cent at $75.24 a barrel. Global oil markets remained tense because of the looming U.S. sanctions against Iran’s oil exports, which kick in from Nov. 4. Brent and WTI earlier this week both reached levels last seen in November 2014, and the two contracts have risen by around 20 and 17 percent respectively since mid-August. Despite this, prices were held back by a strong dollar which makes oil imports more expensive for countries using other currencies domestically, as well as by climbing supply in the United States. U.S. commercial crude inventories rose by 907,000 barrels in the week to Sept. 28 to 400.9 million, the private American Petroleum Institute (API) said on Tuesday.  


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Thursday, 27 September 2018


BULLION:-

Gold prices edged up early on Thursday, supported as investors looked for bargains after the metal fell to a two-week low in the previous session following a U.S. interest rate hike. Spot gold had risen 0.2 percent to $1,196.21 an ounce at the time of writing. On Wednesday, the metal touched its lowest since Sept. 11 at $1,190.40 an ounce. U.S. gold futures were up 0.1 percent at $1,200.40 an ounce. Gold is sensitive to higher interest rates because they tend to boost the dollar, making bullion more expensive for buyers with other currencies. The dollar steadied against its peers early on Thursday as the small boost it received from the U.S. Federal Reserve interest rate hike faded, with a decline in U.S. Treasury yields reducing support for the greenback. In a statement that marked the end of the era of “accommodative” monetary policy, the Fed raised interest rates on Wednesday and left intact its plans to steadily tighten monetary policy, as it forecast that the U.S. economy would enjoy at least three more years of growth. 

METALS:-

The prices of base metals traded on the London Metal Exchange were mostly lower at the close of trading on Wednesday, with zinc being the only metal to trade positively amid continued bearish sentiment across the base metals complex. Copper fell for a third straight session on Wednesday as the dollar firmed ahead on the direction of U.S. interest rates hike. Benchmark copper on the London Metal Exchange edged down 0.4 percent to $6,264 per tonne at the time of writing. Persistent concerns over tit-for-tat trade tariffs between China and the United States are denting demand for risky assets, such as metals. The union at Alcoa’s aluminium operations in the state of Western Australia said it was meeting the company again on Wednesday to try to resolve a strike that has lasted more than six weeks, after the firm last week revised an earlier offer. Stocks in LME-monitored warehouses fell below a million tonnes for the first time since March 2008 on Wednesday, at 999,925 tonnes.

ENERGY:-


Oil prices rose by 1 percent on Thursday as investors focused on the prospect of tighter markets due to U.S. sanctions against major crude exporter Iran, which are set to be implemented in November. U.S. West Texas Intermediate (WTI) crude futures were at $72.41 a barrel, up 84 cents, or 1.2 percent from their last settlement. At its 2018 peak, Iran exported around 3 million barrels per day (bpd) of crude oil, equivalent to 3 percent of global consumption. Shipping data shows Iran September exports fell to around 2 million bpd as buyers around the world bow to U.S. pressure and cut imports. The Organization of the Petroleum Exporting Countries (OPEC) has little spare capacity to make up for an expected shortfall in Iranian exports. Reflecting expectations of lower supply from the Middle East, Oman crude futures on the Dubai Mercantile Exchange touched their highest in four years on Wednesday, briefly jumping above $90 a barrel. While global oil markets tighten, supply in the United States is ample, thanks to rising output.  



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Wednesday, 5 September 2018



BULLION:-

Gold on Thursday held on to gains from the previous session, when it rose 0.5 percent, as the dollar remained weak amid a looming deadline in the U.S.-China trade conflict. The dollar index, which measures the greenback against a basket of currencies, was down 0.3 percent at 94.949. The greenback slipped on Wednesday after a report that Germany would be ready to accept a less detailed agreement on the UK’s future economic and trade ties with the EU in a bid to get a Brexit deal done. That boosted the pound and the euro. Meanwhile, trade concerns continued to keep investors nervous, with a deadline looming in the U.S.-China trade dispute and a refusal by Canada to bow to key U.S. demands in its trade talks with Washington. The United States and Canada resumed talks about revamping the North American Free Trade Agreement (NAFTA). Canada insisted there was room to salvage the pact despite few signs a deal was close. U.S. President Donald Trump said talks with Canada were coming along. Emerging market currencies remained weak, on fears export-oriented economies would be caught in the crossfire of any escalating trade conflict. The emerging market crisis could boost gold’s appeal as a safe haven asset as people might buy the yellow metal as a hedge against inflation. India’s gold imports more than doubled in August to hit their highest level in 15 months as lower prices prompted manufacturers to replenish inventory for a jewellery exhibition, provisional data from metals consultancy GFMS showed.

METALS:-

Copper trading steady on Thursday after rising on Wednesday after five straight days of losses as a dollar rally paused, but gains were firmly capped by persistent fears over escalating trade tensions between the United States and top metals consumer China. A public comment period on the possibility of fresh U.S. tariffs on another $200 billion of Chinese goods ends on Thursday, with expectations that the additional levies will be imposed by U.S. President Donald Trump. The dollar has benefited from these tensions, though it slipped on Wednesday, off a two week high hit in the previous session, making dollar-priced metals less costly for non-U.S. investors. Alcoa’s alumina production has likely been hit by a four-week strike at its Western Australian operations, the Australian Workers’ Union said, raising the prospect of a widening supply deficit in the key aluminium-making ingredient. The most active steel rebar future on the Shanghai Futures Exchange notched up its ninth day of losses out of the past 11 sessions as worries lingered about slowing demand in the world’s top producer.

ENERGY:-

Oil prices fell on Thursday as the American Petroleum Institute (API) reported a draw of 1.17 million barrels of United States crude oil inventories for the week ending September 1, compared to analyst expectations that this week would see a draw in crude oil inventories of 1.29 million barrels. Other analysts had anticipated a 2.9 million barrel draw. Last week, the American Petroleum Institute (API) reported a surprise build of 38,000 barrels of crude oil. The API reported a build in gasoline inventories for week ending September 1 in the amount of 1 million barrels. Analysts predicted a draw of 81,000 barrels. Wednesday’s falling prices—the lowest of the week, in fact—were largely the result of tropical storm Gordon that ripped through the Gulf of Mexico without much disruption to energy infrastructure. Despite the fact that Gordon did claim at least one life, it managed to miss nearly every oil and gas operation in the GoM. Also weighing on prices is Iran’s persistence in finding future markets for its oil come November when US sanctions against Tehran go into full effect. On Wednesday, Tehran reported that Europe was looking to open bank accounts in Europe for Iran to deposit oil revenues and secure Iranian oil exports. US crude oil production as estimated by the Energy Information Administration was unchanged for the week at 11.0 million bpd for the week ending August 24. Distillate inventories were also up this week—by 1.8 million barrels, compared to an expected build of 742,000 barrels. Inventories at the Cushing, Oklahoma site increased this week by 613,000 barrels. The U.S. Energy Information Administration report on crude oil inventories is due to be released on Thursday at 8:30 PM IST.




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Monday, 3 September 2018



BULLION:-

Gold prices traded sideways during early trades on Tuesday, in the previous session also it closed flat amid thin trade with US and Canadian financial markets closed for their respective Labor Day holidays. On a wider perspective, gold remains depressed amid US interest rate outlook and is not seen as a safe haven asset, to protect from trade wars, Brexit concerns and emerging-market jitters. With no major economic reports out Monday due to the U.S. holiday, investors looked forward to the publication of the August nonfarm payrolls report on Friday. The consensus forecast is for the creation of 191,000 jobs last month, while the unemployment rate is expected to hold steady at 3.9%. With expectations pointing to another solid reading for the U.S. labor market, the report is not likely to move market expectations for the Federal Reserve to hike interest rates by a quarter point at the next policy meeting on September 25-26. Fed fund futures currently put the probability of an additional increase in December at just under 70%, according to Investing.com’s Fed Rate Monitor Tool. Higher interest rates tend to weigh on demand for gold, which doesn’t bear interest, in favor of yield-bearing investments. Growing turbulence in Argentina once again focused global attention on emerging markets. On Monday, Argentine President Mauricio Macri announced new taxes on exports and steep cuts to government spending in what he termed "emergency" measures to balance next year's budget.

METALS:-

London metal prices steadied on Tuesday, but a trade dispute between China and the United States chilled factory activity in August and tempered appetite for metals. Other ShFE metals were also weaker, with nickel , zinc and tin all down around 1 percent. Manufacturing activity in China took a hit from weak orders in August, surveys showed, a sign firms are feeling the pinch from the intensifying trade war between the Sino U.S. trade war that could derail global growth. Chilean state miner Codelco halted the operations of three out of four furnaces at its Ventanas copper foundry on Monday morning after high levels of sulphur dioxide were detected, it said in a statement. U.S. President Donald Trump is likely to impose 25 percent tariffs on $200 billion of additional Chinese goods as soon as this Friday. Nickel sank to its lowest in more than seven months on Monday, weighing on nickel, mainly used to make stainless steel, was another fall in construction steel rebar prices in Shanghai after they posted their weakest weekly performance since late March. LME lead was the biggest gainer, rising 1.2 percent to $2,103 a tonne as inventories continued to fall. On-warrant LME stocks fell by 1,050 tonnes to 59,050, the lowest since June 2013, data showed on Monday.

ENERGY:-

US oil prices edged up on Tuesday, rising back past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane. Anadarko Petroleum Corp said on Monday it had evacuated and shut production at two oil platforms in the northern Gulf of Mexico ahead of the approach of Gordon, which is expected to come ashore as a hurricane. International Brent crude futures, by contrast, lost ground, trading at $78.10 per barrel, down 5 cents from their last close. This came as India allowed state refiners to import Iranian oil if Tehran arranges and insures tankers. Many international shippers have stopped loading Iranian oil as U.S. financial sanctions against Tehran prevents them from insuring its cargoes. Mirroring a step by China, where buyers are shifting nearly all their Iranian oil imports to vessels owned by National Iranian Tanker Co (NITC), this means that Asia’s two biggest oil importers are making plans to continue Iran purchases despite pressure by Washington to cut orders. Russia's crude and condensate production averaged 11.21 million b/d in August, dipping 8,000 b/d from July, when the country cranked up production significantly, according to preliminary data released Sunday by the Central Dispatching Unit, the energy ministry's statistics arm.



Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Monday, 27 August 2018


BULLION:-

Expenditure on gold jewellery in Kerala is the highest in the country. But the robust demand has been affected by the floods.According to the Rajesh Bhaya-ni reports. In flood-hit areas, the first priority is rehabilitation and go-ld could be the best asset to encash.
There is also a possibility of default on loan against gold pledged by poor and middle class people in the time of crisis like this. So far as gold loans are concerned, companies providing these loans and the banks are thinking of recovering default am
-ounts by selling the gold pledged to them as collateral, but under the present circumstances, the recovery is looking impossible. There is possibility of large-scale defaults in repayment and pledged stock could come for auction augmenting the sup
-ply of gold.


METALS:-

A weaker US dollar and improved market sentiment are expected to continue to buoy copper prices in the short run. With support from fundamentals, the SHFE 1810 contract opened at highs of 48,850 yuan/mt. It closed at 48,710 yuan/mt overnight
with a trading range forecasted at 48,600-49,000 yuan/mt today. A surging Chinese yuan is likely to drive LME copper to outperform the contract today. LME copper is seen trading at $6,075-6,130/mt today. We expect spot premiums to extend their
decline to 20-80 yuan/mt as traders destocked. 


ENERGY:-

Oil prices rose on Tuesday as risks of supply disruptions from places such as Venezuela, Africa and Iran triggered expectations of a tightening market. International Brent crude oil futures LCOc1 were at $76.37 per barrel at 0215 GMT, up 16 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 9 cents, or 0.1 percent, at $68.96 a barrel. Despite some concerns about an economic slowdown because of the U.S.-China trade conflict, crude supplies are relatively tight due to disruptions as well as voluntary restraints on output by the Organization of the Petroleum Exporting Countries (OPEC).


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Tuesday, 7 August 2018


Precious Metals

CS GOLD (OCT) OVERVIEW: TREND : SIDEWAYS RESIST

 2: 29730 RESIST
1: 29680 SUP
1: 29590 SUP
2: 29550

CS SILVER (SEP) OVERVIEW: TREND : SIDEWAYS RESIST

2: 38200 RESIST
 1: 38050 SUP
1: 37800 SUP
 2: 37700

Base Metals

CS COPPER (AUG) OVERVIEW: TREND : SIDEWAYS RESIST

 2: 421.00 RESIST
1: 418.00 SUP
 1: 413.00 SUP
2: 410.00

 CS NICKEL (AUG) OVERVIEW: TREND : BEARISH RESIST 

2: 963.00 RESIST
 1: 952.00 SUP
1: 922.00 SUP
2: 903.00

CS ZINC (AUG) OVERVIEW: TREND : BEARISH RESIST 
2: 182.00 RESIST
1: 180.50 SUP
1: 177.00 SUP
2: 175.50
CS LEAD (AUG) OVERVIEW: TREND : SIDEWAYS RESIST
 2: 148.00 RESIST
1: 146.50 SUP
1: 143.50 SUP
 2: 142.00
CS ALUMINIUM (AUG) OVERVIEW: TREND : BEARISH RESIST 
2: 141.50 RESIST
1: 140.50 SUP
1: 138.50 SUP
2: 137.50

Energies

CS CRUDE OIL (AUG) OVERVIEW: TREND : BEARISH RESIST
 2: 4860 RESIST
1: 4820 SUP
1: 4720 SUP
2: 4670

CS NATURAL GAS (AUG) OVERVIEW: TREND : BULLISH RESIST
 2: 198.50 RESIST
 1: 197.50 SUP
1: 195.00 SUP
2: 193.50

MCX CRUDE AUG on Monday as seen in the Daily chart opened at 4717 levels and made day high of 4812 levels. During this period crude came down to 4713 levels and finally closed at 4767 levels. Now, there are chances of further upside movement technically & fundamentally.

  •   Oil rises ahead of renewed U.S. sanctions against Iran.
  •   Much of the northern hemisphere has been gripped by extreme heat this summer, pushing up demand for industrial and residential cooling.

DAILY RECOMMENDATION: BUY MCX CRUDE AUG ABOVE 4770 LEVELS FOR TARGET OF 4800/4820 WITH SL 4720 OF LEVELS.



Gold gains slightly as lower price levels induce buying.

The U.S. Federal Reserve is widely expected to raise benchmark lending rates, for the third time this year, at its next policy meet in September. Higher U.S. rates tend to boost the dollar, making greenback-denominated gold more expensive for holders of other currencies. Global markets on Tuesday remained focused on developments on the trade war front while oil investors braced for impact from the first set of U.S. sanctions on Iran, set to take effect at 0401 GMT. Spot gold is poised to break a support at $1,206 per ounce, and fall towards the next support at $1,194, according to Reuters technical’s analyst Wang Tao.

Copper down with escalating US-China trade wars.

Copper fell to a low of $6,064/mt and closed at $6,105/mt in LME on Monday. The SHFE 1809 contract opened lower but recovered some losses later, closing at 49,330 yuan/mt. Shorts are likely to drag LME copper down to the $6,000/mt level with escalating US-China trade wars. We expect LME copper to trade at $6,070-6,130/mt today with the SHFE 1809 contract at 49,000-49,500 yuan/mt. Spot premiums are likely to sustain at 70-100 yuan/mt today.

Nickel fell down as low in demand and recovery in production.

 LME nickel reversed early losses, hitting a high of $13,725/mt and closing at $13,700/mt last night. The SHFE 1809 contract jumped past the 40-day moving average to a high of 112,780 yuan/mt and closed at 112,480 yuan/mt overnight. The shrinking LME and SHFE inventory gave some support to nickel prices. We expect LME nickel to hover around $13,600/mt today with the SHFE 1809 contract at 110,000-112,000 yuan/mt. Spot prices are seen at 111,000-113,000 yuan/mt..

Oil rises ahead of renewed U.S. sanctions against Iran. 

Oil prices rose on Tuesday ahead of the introduction of U.S. sanctions against major crude exporter Iran. U.S. sanctions against Iran, which shipped out almost 3 million barrels per day (bpd) of crude in July, are set to begin at 12:01 a.m. U.S. Eastern time (0401 GMT) on Tuesday. Many countries, including U.S. allies in Europe as well as China and India, oppose the introduction of new sanctions, but the U.S. government said it wants as many countries as possible to stop buying Iranian oil. The main oil market price drivers of recent months have been output levels by top producers Russia, Saudi Arabia, and the United States, renewed Iran sanctions, the U.S.-China trade dispute, and unplanned supply disruptions. Some analysts warned that a global heat wave could also now affect oil demand. Much of the northern hemisphere has been gripped by extreme heat this summer, pushing up demand for industrial and residential cooling.

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