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Showing posts with label Capitalstars Video Gallery. Show all posts
Showing posts with label Capitalstars Video Gallery. Show all posts

Tuesday, 11 December 2018


Vienna In order to put an end to crude oil prices, the organization of oil producing countries has agreed to cut OPEC production. The meeting lasted for two days agreed to cut 12 lakh barrels per day (MBD) between OPEC countries. Although the cut is much higher than expected, that is why news of crude prices in the international market has increased by 5.4 percent. It is believed that it will have a huge effect on India and once again the order of the price of petrol and diesel may start.

OPEC will reduce 12 million barrels a day
OPEC and its partners agreed to cut production of 1.2 million barrels per day, out of which eight million barrels will be cut by OPEC alone. Although Iran has emerged as a winner in this controversial conversation. Iran said that it has been exempt from the deduction because it is already facing American sanctions.

Crude costlier by 5.4 percent
After this news, Brent crude prices in London climbed up to 5.4 percent. However, later the trade was limited and crude moved up 3 percent to $ 61.67 a barrel level.

OPEC's decision has increased the apprehensions that the deal could increase the resonance of US President Donald Trump, who did not want to cut crude production and keep prices low.

Russia's Strategy Worked
It is believed that the non-OPEC member was behind the deal as Russia's Strategy, which has many bilateral meetings with members. In this way, he managed to persuade Saudi Arabia and Iran, which was considered the hardlinest opposition. However, these days OPEC was facing considerable pressure to keep oil prices down.

Declining output
The deal at the end was a surprise to everyone. In the earlier conversation, OPEC and its allies had proposed a reduction of 10 million barrels per day in oil production, in which 6.50 lakh OPECs were to be reduced. According to the reports, the producers of oil will use the output of October as a baseline to cut production.


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Monday, 3 December 2018


BULLION:-

Gold prices rose on Tuesday, after hitting a more than one-month high earlier in the session, as the dollar stumbled after the United States and China agreed to a temporary truce in their trade conflict that rattled global markets. "Dollar weakness is primarily driving gold prices higher," said Benjamin Lu, a commodities analyst at Phillip Futures. "Markets seem little doubtful about the success of this Sino-U.S. trade war truce... It seems a bit cautious," Lu added. The dollar weakened against its major peers on Tuesday, as the thaw in trade tensions between Washington and Beijing supported investor confidence though concerns about the fragility of the truce capped wider gains in risk assets. Analysts now expect market focus to move to the U.S. Federal Reserve's monetary policy. Markets are expecting a fourth rate hike at its Dec. 18-19 meeting. Gold has fallen about 10 percent from a peak in April as investors preferred the dollar as safe haven, with U.S.-China trade friction unfolding against a backdrop of higher U.S. interest rates.

METALS:-

London copper fell to close at $6,250/mt overnight after it climbed to a high of $6,328.5/mt. Despite an initial increase to a high of 50,370 yuan/mt, the SHFE 1902 contract fell into negative territory to close at 49,910 yuan/mt overnight. Copper prices are expected to stay at highs as a ceasefire in the US-China trade war, the Fed’s dovish tone and expected oil supply cuts prompt investors to shun safe-haven US currency and to turn to riskier assets. LME copper is likely to trade at $6,230-6,280/mt today with the SHFE 1902 contract at 49,800-50,250 yuan/mt. Spot premiums are seen at 100-200 yuan/mt. London nickel fluctuated to close at $11,195/mt overnight. The SHFE 1901 contract regained some losses to end at 91,500 yuan/mt after it fell to a low of 91,080 yuan/mt. Weak domestic fundamentals could provide SHFE nickel with limited upward momentum. We expect LME nickel to hover around $11,200/mt today with the SHFE 1901 contract at 91,000-92,500 yuan/mt. Spot prices are seen at 91,500-100,500 yuan/mt.

ENERGY:-


Oil prices rose on Tuesday, extending strong gains from the previous day amid expected OPEC-led supply cuts and a mandated reduction in Canadian output. The 90-day truce in the trade dispute between the United States and China was also still supporting markets, traders said. Both crude benchmarks climbed by around 4 percent the previous session after Washington and Beijing agreed a truce in their trade disputes and said they would negotiate for 90 days before taking any further action. Middle East dominated Organization of the Petroleum Exporting Countries (OPEC) will on Dec. 6 meet at its headquarters in Vienna, Austria, to agree a joint output policy. "A cut in OPEC and Russia production of 1.3 million barrels per day (bpd) will be required to reverse the ongoing counter-seasonally large increase in inventories," the bank said. It added that it expected a joint effort by OPEC and Russia to withhold supply to push Brent oil prices "above the mid-$60 per barrel level".


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Sunday, 25 November 2018


BULLION:-

Gold prices were little changed on Monday with investors looking to a G20 meeting this week for signs of a thaw in the Sino-US trade conflict, although a stronger dollar amid fears of a slowdown in global growth weighed on bullion. Officials from some G20 countries, anxious to see a swift end to the U.S.-China trade war, are hopeful but not confident that a meeting between Trump and Chinese President Xi Jinping on the sidelines of a G20 summit in Argentina may yield at least a partial ceasefire. The two-day summit ends on Dec. 1. China on Friday urged the World Trade Organization (WTO) to close loopholes and correct practices by some member states that damage global trade, warning of a “profound crisis” facing the institution’s existence. European Union leaders finally sealed a Brexit deal on Sunday, saying the package agreed with Prime Minister Theresa May was the best Britain will get in a warning to the British parliament not to reject it. Euro zone business growth has been much weaker than expected this month as a slowing global economy and the trade war have led to a sharp fall in exports, a survey showed on Friday. Italian Deputy Prime Minister Matteo Salvini hinted on Sunday at the possibility of tweaking the country’s deficit goal for next year, a move that could open a negotiation between Rome and Brussels to avoid a disciplinary procedure against Italy.  

METALS:-

Oil prices won back some ground after hefty losses on Friday, but remained under pressure with Brent crude below $60 per barrel amid weak fundamentals and struggling financial markets. U.S. West Texas Intermediate (WTI) crude futures, were up 16 cents, or 0.3 percent, at $50.58 per barrel. But Monday’s gains did little to make up for the almost 8-per cent plunge on Friday, which traders have already dubbed ‘Black Friday’. The downward pressure comes from surging supply and a slowdown in demand-growth which is expected to result in an oil supply overhang in 2019. Beyond weak fundamentals, oil markets are also being impacted by a downturn in wider financial markets. Oil markets have also been weighed down by the strong U.S.-dollar, which has surged against most other currencies this year, thanks to rising interest rates that have pulled investor money out of other currencies and also assets like oil, which are seen as more risky than the greenback. Another risk to global trade and overall economic growth is the trade war between the world’s two biggest economies, the United States and China.

ENERGY:-

Nickel extended loss on Monday after Friday’s slump to its lowest since October last year, pulled down by worries about a supply surplus in 2019 and weaker demand from China, the largest consumer of the metal. Most other base metal prices also fell sharply on concerns that U.S.-China trade talks next week could fail, leading to weaker economic growth. Adding to the bearish mood for nickel was news that German chemicals giant BASF plans to use less of the metal in its electric car batteries. Electric vehicles have been touted as a major new source of demand. Expectations of a supply avalanche hitting the nickel market next year due to new capacity in Indonesia have sent prices down more than 15 percent since September. U.S. President Donald Trump and his Chinese counterpart Xi Jinping are expected to hold talks during the G20 summit next week. Shanghai equities fell by the most in five weeks on Friday and the yuan weakened, making dollar-priced metals more expensive for Chinese buyers. Germany’s BASF has a new recipe for electric car batteries which cuts the nickel content by more than half and uses more manganese. China’s October scrap metal imports fell to their lowest since at least 2014 amid tightening regulations on waste imports. Arrivals of scrap copper last month fell to 170,000 tonnes from 200,000 tonnes in September and scrap aluminium imports fell to 90,000 tonnes from 100,000 tonnes.


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Thursday, 22 November 2018


BULLION:-

Gold (futures on Comex) found buyers in Asia once again near the 1227 level, now heading back towards the two-week tops of 1229.70 reached a day before. The yellow metal remains on the front foot so far this Friday, as the US dollar extends its softness across the board into a third straight session, as markets remain wary over the Fed’s rate hike outlook amid mounting concerns about a potential global slowdown. The US dollar index trades weaker near 96.50 level, looking to test Thursday’s low at 96.32. Moreover, gold prices derive support from the mixed tone seen on the Asian equities, as the Chinese stocks get sold-off into looming US-China trade concerns and Chinese growth concerns. However, it remains to be seen if the bullion can sustain the upbeat momentum, as positive Treasury yields combined with sowing volumes could limit further upside.

METALS:-

Rising longs buoyed prices of LME copper and the SHFE contracts on a softened US dollar. LME copper rose above the five-day moving average and closed at the highest overnight at $6,267/mt. The SHFE 1901 contract ended three consecutive trading days of decline as it closed at 49,660 yuan/mt after rising to a high of 49,680 yuan/mt. We expect it to trade at 49,400-49,800 yuan/mt today with LME copper trading at $6,220-6,270/mt. Tight supplies in domestic market will keep spot premiums at 50-120 yuan/mt. Macro pessimism continued to lower LME nickel and the SHFE 1901 contract overnight, by 0.63% and 1.14%, respectively. Weak fundamentals failed to provide the contract effective support at the 90,000 yuan/mt level. We expect LME nickel to hover weakly around $10,900/mt, with the 1901 contract trading at 89,500-91,000 yuan/mt today. Spot prices are seen at 90,000-101,500 yuan/mt today.

ENERGY:-


Oil prices renewed their fall on Friday, pressured by concerns that producers are churning out more oil than the world needs amid a bleak economic outlook. The divergence between U.S. and international crude comes as surging North American supply is clogging the system and depressing prices there, while global markets are somewhat tighter - in part because of reduced exports from Iran due to newly imposed U.S. sanctions. However, global oil supply has surged this year, with the top-three producers of the United States, Russia and Saudi Arabia pumping out more than a third of global consumption, which stands around 100 million barrels per day (bpd). High production comes as the demand outlook weakens on the back of a global economic slowdown. prices have plunged by around 30 percent since their last peaks in early October, as global production started to exceed consumption in the fourth quarter of this year, ending a period of undersupply that started in the first quarter of 2017, according to data in Refinitiv Eikon.


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Tuesday, 20 November 2018


BULLION:-

Gold prices were steady on Wednesday, after moving in a tight range in holiday-thinned trading, holding above the 1,220 level as the dollar was pressured by weak U.S. economic data and a clouded interest rate outlook. Spot gold was little changed at $1220.20 per ounce at the time of writing. The dollar index, which measures the greenback against a basket of six major currencies, was trading near an over one-week low that it hit in the previous session. The currency came under pressure as U.S. Federal Reserve officials cautioned on the global growth outlook and weak data at home, pointing to a potentially slower pace of rate hikes. The Fed is still expected to raise interest rates again next month and three times next year, but a strong majority of economists polled by Reuters over the past week say the risk is it will slow that pace down. Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion. In a veiled criticism of Washington that further sours the tone of China-U.S. ties ahead of a G20 meet, a top Chinese diplomat said on Monday that the APEC summit’s failure to agree on a communique resulted from certain countries “excusing” protectionism. Meanwhile, holdings at SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.16 percent to 760.86 tonnes on Monday.

METALS:-

London copper prices eased on Wednesday as tensions between the United States and China escalated ahead of a major meeting between the two presidents next week. The United States administration on Tuesday said China has failed to alter its "unfair" practices, adding to tensions ahead of a high-stakes meeting later this month between U.S. President Donald Trump and Chinese President Xi Jinping. Three-month copper on the London Metal Exchange was down 0.2 percent at $6,170 a tonne, at the time of writing, while base metals on the Shanghai Futures Exchange lost ground, with copper slipped 1.3 percent to 49,150 yuan ($7,077.24) a tonne. Global primary aluminium output rose to 5.414 million tonnes in October from 5.301 million tonnes in September, data from the International Aluminium Institute (IAI) showed on Tuesday. Japan's top steelmaker Nippon Steel & Sumitomo Metal Corp is bracing for a weaker steel market in Asia because the escalating Sino-U.S. trade war may crimp steel demand in top buyer China and in Southeast Asia, a senior executive said.  

ENERGY:-

Oil prices on Wednesday recovered some of the previous day’s over 6 percent plunge, lifted by a report of an unexpected decline in U.S. commercial crude inventories as well as record Indian crude imports. But investors remained on edge, with the International Energy Agency (IEA) warning of unprecedented uncertainty in oil markets due to a difficult economic environment and political risk. International Brent crude oil futures were at $63.35 per barrel at the time of writing, up 82 cents, or 1.3 percent from their last close. U.S. West Texas Intermediate (WTI) crude future, were up 78 cents, or 1.4 percent, at $54.21 a barrel. Wednesday’s rebound came after a report by the American Petroleum Institute late on Tuesday that U.S. commercial crude inventories last week fell unexpectedly by 1.5 million barrels, to 439.2 million, in the week to Nov. 16. Yet Wednesday’s bounce did little to reverse overall market weakness, which saw crude tumble by more than 6 percent the previous session amid a selloff in global stock markets. With output surging and the demand outlook deteriorating, the Organization of the Petroleum Exporting Countries (OPEC) is pushing for a supply cut of between 1 million and 1.4 million bpd to prevent a repeat of the 2014 glut. U.S. crude oil production has jumped by almost a quarter this year, to a record 11.7 million bpd largely because of a surge in shale output.



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Monday, 12 November 2018



BULLION:-

Gold prices were steady on Monday, having dipped to a one-month low in the previous session after the U.S. dollar firmed on the Federal Reserve’s plans to gradually keep tightening borrowing costs. The dollar index, which measures the greenback against a basket of six major currencies, inched up 0.1 percent. The greenback built on last week’s gains and rose towards a 16-month high. Asian shares fell on Monday, extending weakness in global equity markets at the end of last week as soft Chinese economic data and falling oil prices rekindled anxiety about the outlook for world growth. U.S. producer prices rose more than expected in October and at their fastest pace in six years but measures of underlying price pressure cooled, bolstering the view that the U.S. central bank is not facing resurgence in inflation. Former British foreign minister Boris Johnson called again on Sunday for Prime Minister Theresa May to change course on Brexit, accusing her of forcing through a deal to keep the country locked in the EU’s customs union in a “total surrender”. Italy’s economy minister is looking to revise down the budget’s growth forecast for next year to try to reach a deal with the European Commission over fiscal policy, a government source said on Sunday.  

METALS:-

Nickel prices on both the London and Shanghai exchanges fell on Monday to near 11-month lows due to pressure from a strong U.S. dollar and concerns over economic growth in China. The dollar built on last week’s gains and rose towards a 16-month high on Monday as traders expect the U.S. Federal Reserve to keep tightening monetary policy. The stronger U.S. currency makes dollar-denominated metals more expensive for buyers paying in other currencies. Macroeconomic concerns such as U.S.-China trade tensions have been weighing on industrial metals. Nickel is used mainly in steelmaking. China’s northern province of Hebei, China’s top steel producer, asked 10 major cities and Xiongan new district in the region to issue an orange smog alert, the local government said in a statement on Monday. Under an orange alert, the second-highest warning behind red in China’s four-tier system, steel mills must halve their output, while coal-fired power utilities must operate at “minimum” levels.  

ENERGY:-


Oil prices rose on Monday after top exporter Saudi Arabia announced a cut in supply for December, seen as a measure to halt a market slump that had seen a crude decline by 20 per cent since early October. Saudi Arabia plans to reduce oil supply to world markets by 0.5 million barrels per day in December, its energy minister said on Sunday, as the Opec power faces uncertain prospects in its attempts to persuade other producers to agree a coordinated output cut. Khalid al-Falih told reporters that Saudi Aramco's customer crude oil nominations would fall by 500,000 bpd in December versus November due to seasonal lower demand. The cut represents a reduction in global oil supply of about 0.5%. The announcement came after crude prices declined by around 20 per cent over a month, as supply has surged, especially by the top-three producers USA, Russia and Saudi Arabia. A big concern for Saudi Arabia and other traditional producers from the Middle East dominated Organization of the Petroleum Exporting Countries (Opec) is the surge in US output. US energy firms last week added 12 oil rigs in the week to Nov. 9 looking for new reserves, bringing the total count to 886, the highest level since March 2015, Baker Hughes energy services firm said on Friday.  


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Monday, 5 November 2018


BULLION:- Gold prices traded on flat note on Tuesday after inching lower on Monday as investors took some profits following a recent rally, but the metal traded within a narrow range as caution set in ahead of the U.S. congressional elections. Spot gold was down 0.1 percent at $1,230.76 per ounce at the time of writing, trading in an $8 range.U.S. gold futures settled down $1, or 0.1 percent, at $1,232.30. Investors will keep a close eye on the U.S. midterm elections which may fuel interest in bullion as a hedge against risk if the result sparks volatility in the wider financial markets.
Opinion polls show strong chances that the Democratic Party may win control of the House of Representatives in the Nov. 6 midterm elections. Bullion traders also awaited this week’s Federal Reserve meeting to gauge the outlook for U.S. monetary policy. Speculators raised their net short
position in gold to a three-week high in the week ended Oct. 30, according to U.S. Commodity Futures Trading Commission data. Also, highlighting investors’ bearish sentiment toward bullion were holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust (GLD), which fell 0.23 percent to 759.06 tonnes on Friday.


ENERGY:- The United States snapped sanctions back in place on Monday to choke Iran’s oil and shipping industries, while temporarily allowing top customers such as China and India to keep buying crude from the Islamic Republic. Having abandoned a 2015 Iran nuclear deal, U.S President Donald Trump is trying to cripple Iran’s oil-dependent economy and force Tehran to quash not only its nuclear ambitions and ballistic missile program but also support for militant proxies in Syria, Yemen, Lebanon and other parts of the Middle East. Washington has pledged to eventually halt all purchases of crude oil from Iran globally but for now, it said eight countries - China, India, South Korea, Japan, Italy, Greece, Taiwan, and Turkey - can continue imports without penalty. Crude exports contribute one-third of Iran’s government revenues. Oil prices in October rallied above $85 per barrel on fears of a steep decline in Iranian exports. Prices have fallen since then on expectations that some buyers would receive exemptions and as supply from other big producers have increased. Both oil benchmarks have slid more than 15 percent since hitting four-year highs in early October. Hedge funds have cut bullish bets on crude to a one-year low. 


BASE METAL:- Copper led base metals lower on Monday as investors took profits after the metal used in power and construction touched a two-week high on Friday. Three-month copper on the London Metal Exchange ended down 1.5 percent at $6,191.50 a tonne, having climbed on Friday to its highest since Oct. 22 at $6,315. Copper soared on Friday on signs that trade tensions were easing after optimistic comments from the United States and China. Chinese President Xi Jinping on Monday added to that positivity by promising to lower tariffs, broaden market access and import
more from overseas, but his comments failed to impress the market. U.S. President Donald Trump said on Monday that China has hurt the United States economically but was ready to make a deal on trade and him is open to a fair agreement. China’s services sector chalked up its slowest growth
in more than a year last month as new orders dried up, a private survey showed, suggesting a further loss in economic momentum as 2018 draws to a close. 

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 BULLION : - 

Gold prices were steady in early Asian trade on Monday as the dollar eased, while investors are tuned in to the U.S. congressional elections on Tuesday. Spot gold was steady at $1,232.86 per ounce, at the time of writing. U.S. gold future was up 0.1 percent at $1,234.6 per ounce. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 percent. Investors are now focused on the U.S.congressional elections on Nov. 6, which will determine whether the Republican or Democratic party controls Congress, with some predicting increased market volatility on the outcome. U.S. job growth rebounded sharply in October and wages recorded their largest annual gain in 9-1/2 years, pointing to further labor market tightening that could encourage the Federal Reserve to raise interest rates again in December. British Prime Minister Theresa May's office has dismissed as "speculation" a newspaper report that suggests an all-UK customs deal will be written into the legally binding agreement governing Britain's withdrawal from the EU. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.23 percent to 759.06 tonnes on Friday from 760.82 tonnes on Thursday. Hedge funds and money managers raised their net short position in gold by 18,723 contracts to 45,622 contracts, according to U.S. Commodity Futures Trading Commission data on Friday. This was the highest in three weeks.

ENERGY:-

Oil prices dipped on Monday as the start to U.S. sanctions against Iran's fuel exports was softened by waivers that will allow some countries to still import Iranian crude, at least temporarily. U.S. West Texas Intermediate (WTI) crude futures were down 27 cents, or 0.4 percent, at $62.87 a barrel. Brent has lost more than 16 percent in value since early October, while WTI has declined by more than 18 percent since then. Prices have been coming under pressure since it became clear that Washington was allowing several countries to continue importing crude from Iran despite the sanctions, which officially started on Monday. The United States said on Friday it will temporarily allow eight importers to keep buying Iranian oil when it re-imposes sanctions, aimed at forcing Iran to curb its nuclear, missile and regional activities. U.S. Secretary of State Mike Pompeo, who announced the decision, did not name the eight, which he referred to as "jurisdictions," a term that might include importers such as Taiwan which the United States does not regard as a country. China, India, South Korea, Turkey, Italy, the United Arab Emirates and Japan have been the top importers of Iran's oil, while Taiwan occasionally buys cargoes of Iranian crude but is not a major buyer. Oil markets have already adjusted to the Iran sanctions, gradually dialing back imports in preparations.

 BASE METAL:- 

London copper took a breather on Monday after hitting a two-week peak in the previous session following comments by the U.S. president that the United States may be approaching a trade deal with China. London Metal Exchange copper slipped by half a percent to $6,253 a tonne at the time of writing, paring 3.2 percent gains on Friday when prices reached the highest in two weeks at $6,315 a tonne. Copper has traded in a $5,950-$6,400 range since late September as worries of an escalating trade war have overshadowed signs of a burgeoning shortage of the metal. Shanghai Futures Exchange copper narrowed earlier gains and were up 1.2 percent at 49,970 yuan ($7,235.42) a tonne. Other LME metals weremore or less flat except for volatile nickel that shed 1.1 percent, erasing Friday's gains. U.S. President Donald Trump said on Friday he will likely make a deal with China on trade, adding that a lot of progress has been made to resolve the two countries' differences but warned that he still may impose more tariffs on Chinese goods.


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Wednesday, 31 October 2018


BULLION:-

Gold prices inched higher in early Asian trade on Thursday, recovering from a three-week low hit in the previous session as the US dollar eased. Spot gold was up 0.2 per cent at $1,216.23 an ounce, as of 0123 GMT, after three sessions of falls in a row. Prices fell to their lowest since Oct. 11 at $1,211.52 an ounce on Wednesday. US gold futures rose 0.2 per cent to $1,217.8 an ounce. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.2 per cent. The strong jobs market is gradually putting upward pressure on compensation, with other data on Wednesday showing a solid increase in labor costs in the third quarter. British Prime Minister Theresa May has struck a tentative deal with the European Union that would give UK financial services companies continued access to European markets after Brexit, the Times reported on Thursday. Euro zone inflation accelerated last month, providing further rationale for the European Central Bank's decision to dial back stimulus even as growth is slowing more sharply than most had forecast.  

METALS:-

As shorts added their positions after the dollar refreshed its 16-month high, LME copper fell off its daily moving average to a low of $5,984/mt and ended at $5,999.5/mt overnight. The SHFE 1812 contract dropped to session-lows of 48,710 yuan/mt after climbing to a high of 49,290 yuan/mt. It regained some losses by the closing bell overnight. Both LME and SHFE copper now stand below their 60-day moving averages. In the domestic physical market, trades were thin in the last trading day of October. LME copper is expected to trade at $5,990-6,040/mt today with the SHFE 1812 contract at 48,900-49,400 yuan/mt. Spot discounts are seen at 50-20 yuan/mt.

ENERGY:-

Oil prices fell early on Thursday, extending losses in previous sessions, amid signs of rising supply and growing concerns that demand might weaken on the prospect of a global economic slowdown. Both benchmarks posted their worst monthly performance since July 2016 on Wednesday, with Brent falling 8.8 percent for the month and WTI dropping 10.9 percent. Thursday's drops came after U.S. Energy Information Administration data showed crude oil inventories climbed for a sixth straight week. Strong built in oil inventories is likely to keep downward pressure on oil prices," ANZ Research analysts said in a note. China delivered disappointing PMI data, with its manufacturing sector in October expanding at its weakest pace in over two years.


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 BULLION:- 
Gold prices fell on Wednesday while extending yesterday’s drop as the U.S. dollar firmed on renewed fears of intensification in the Sino-U.S.trade war and worries over slowing global economic growth. Investors took cover in the greenback after Bloomberg reported that Washington is preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between U.S. President Donald Trump and Chinese President Xi Jinping fail to ease the trade war. A stronger dollar makes bullion more expensive for holders of other currencies. Spot gold was down 0.4 percent at $1,217 an ounce at the time of writing. Gold prices have gained about 6 percent since declining to $1,159.96 an ounce in mid-August, the lowest since January 2017. Choppy sessions in global equity markets last week pushed gold to $1,243.32, its highest since July 17on Friday. However, the yellow metal is still down about 10 percent from its April peak after investors turned to the dollar as a safe-haven as the U.S.-China trade war unfolded against a background of higher U.S. interest rates. Asia shares recouped early losses and crept higher as China made a fresh attempt to stabilise its stock markets, but the gains looked fragile. Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange traded fund, rose 0.7 percent to 24.27 million ounces on Monday, the highest in nearly two months.


ENERGY:- 
                   
Oil prices climbed for the first time in three days on Wednesday, but rising supply and fears over the outlook for demand amid the U.S.-China trade war kept pressure on the market. Brent crude futures had gained 52 cents, or 0.7 percent, to $76.43 a barrel. They fell 1.8 percent on Tuesday, at one point touching their lowest since Aug. 24 at$75.09 a barrel. U.S. West Texas Intermediate (WTI) crude futures advanced 29 cents, or 0.4 percent, to $66.47 a barrel on Wednesday. They dropped 1.3 percent the day before, after hitting their weakest since Aug. 17 at $65.33 a barrel. Both crude benchmarks have fallen about $10 a barrel from four-year highs reached in the first week of October, and are on track to post their worst monthly performance since July 2016. Oil has been caught in the global financial market slump this month, with equities under pressure from the trade scrap between the world's two largest economies. In a bearish signal, the American Petroleum Institute reported U.S. crude inventories rose 5.7 million barrels last week, more than analyst forecasts for a 4.1 million-barrel build. Investors will look to official government data on U.S. inventories due on Wednesday. Meanwhile, the International Energy Agency (IEA) said high oil prices were hurting consumers and could dent fuel demand at a time of slowing global economic activity.


BASEMETAL :- 
                 
Zinc and copper prices fell in Shanghai on Wednesday after data showed that China’s manufacturing sector grew at its weakest pace in more than two years, dampening the outlook for demand in the world’s top metals consumer. Amid rising headwinds from the Sino-U.S. trade row, China’s official Purchasing Managers’ Index dropped to 50.2 in October from 50.8 in September, only slightly above the 50-point mark that separates growth from contraction. The latest reading suggests a further slowing in the world’s second-biggest economy and could prompt more policy support from Beijing on top of a raft of recent initiatives. s China’s yuan approaches the 7 to the dollar barrier, investors are betting authorities will eventually let the currency fall beyond the historic level. Yet they are just as confident that China won’t allow the kind of capitulation seen in past market meltdowns. The most-traded December zinc on the Shanghai Futures Exchange was down 1.8 percent at 21,545 yuan ($3,093) a tonne. Copper dropped 1.4 percent to 49,160 yuan. Three-month copper on the London Metal Exchange was up 0.1 percent at $6,039 a tonne and zinc was flat at $2,549. Asian stocks pulled away from 20-month lows to eke out small gains, thanks to a rebound on Wall Street. The dollar hovered near 16-month highs versus a basket of its major rivals


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