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

Sunday, 21 July 2019



BULLION - Bullion counter may trade on sideways path. Gold prices inched lower on Monday, extending losses after the metal hit a six-year peak on Friday, as investors rolled back expectations for a sharp interest rate cut at the end of this month, while tensions in the Middle East limited losses for the bullion. Expectations of an aggressive interest rate cut rose after New York Federal Reserve President John Williams argued for pre-emptive stimulus in a speech last week. But a subsequent clarification that his remarks were academic and "not about potential policy actions" shredded prospects for a 50-basis-point rate cut at the end of the month. Expectations for a rate cut of half a percentage point at the Fed's July 30-31 meeting edged out further on Monday to hit 14.5%, according to CME's FedWatch tool, down from as high as 71% last week. Meanwhile, confrontation in the global oil trade's most important waterway has escalated with footage showing the Iranian military defying a British warship when it seized a tanker in the Strait of Hormuz on Friday. Hedge funds and money managers raised their bullish stance in COMEX gold in the week to July 16, the U.S. Commodity Futures Trading Commission (CFTC) said in a report on Friday.

ENERGY- Crude oil may trade on upside path as oil prices rose on Monday amid high tensions in the Middle East after a British tanker was seized by the Iranian military at the end of last week. Irans Revolutionary Guards said they had captured a British-flagged oil tanker in the Gulf after Britain seized an Iranian vessel earlier this month, ratcheting up tensions along a vital international oil shipping route. Britain was weighing its next moves on Sunday, with few good options apparent as a recording emerged showing that the Iranian military defied a British warship when it boarded and seized the ship three days ago. Prime Minister Theresa Mays office said she would chair a meeting of Britains emergency response committee on Monday morning to discuss the crisis. The International Energy Agency (IEA) does not expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets. The IEA is reducing its 2019 oil demand growth forecast to 1.1 million barrels per day from 1.2 million bpd due to a slowing global economy. The number of rigs drilling for natural gas in the United States rose by 2 this week to 174, data from oil services firm Baker Hughes showed on Friday.

BASE METAL - Base metals may trade with upside path. China will further ease its economic policy to deal with a prolonged and costly trade war with the United States, but it would save more aggressive measures as last resorts should the dispute get uglier, policy sources say. Nickel prices fell on Monday as a buying spree that sent the metal used mostly in making stainless steel to its highest in more than a year, started to lose steam. Three-month nickel on the London Metal Exchange (LME) fell 1.2% to $14,555 a tonne, while the most-traded nickel contract on the Shanghai Futures Exchange dropped 2.3% to 114,920 yuan ($16,708.35) a tonne. China will further ease its economic policy to deal with a prolonged and costly trade war with the United States, but it would save more aggressive measures as last resorts should the dispute get uglier, policy sources say.
 

Tuesday, 16 July 2019



BULLION - Bullion counter may trade on sideways to weaker path as gold prices edged lower on Wednesday, but still held above the psychological $1,400 level, as the dollar gained after robust U.S. retail sales tempered fears of a sharp downturn in the world's largest economy. The Commerce Department said retail sales rose 0.4% last month as households stepped up purchases of motor vehicles and a variety of other goods. Economists polled by Reuters had forecast retail sales edging up 0.1% in June. However, Fed Chairman Jerome Powell on Tuesday reiterated pledges to "act as appropriate" to keep the U.S. economy humming, in a speech that did not deviate from expectations that a rate cut is on the way. Meanwhile, President Donald Trump said on Tuesday the United States still has a long way to go to conclude a trade deal with China but could impose tariffs on an additional $325 billion worth of Chinese goods if it needed to do so.

ENERGY- Crude oil may trade on weaker path as oil steadied after falling more than 3% overnight, with U.S. crude trailing Brent after U.S. inventory data fell short of expectations, amid conflicting signals from the U.S. and Iran over the disputes that have roiled prices recently. Iran denied it was willing to negotiate over its ballistic missile program, contradicting a claim by U.S. Secretary of State Mike Pompeo, and appearing to undercut Trumps statement that Washington had made progress on its disputes with Tehran. Tensions between the United States and Iran over Tehrans nuclear program have lent support to oil futures; given the potential for a price spike should the situation deteriorate. Crude inventories fell by 1.4 million barrels in the week to July 12 to 460 million, industry group the American Petroleum Institute said on Tuesday. Still, more than half the daily crude production in the U.S. Gulf of Mexico remained offline on Tuesday in the wake of Hurricane Barry, the U.S. drilling regulator said, as most oil companies were re-staffing facilities to resume production. U.S. natural gas futures on Tuesday fell more than 4%, its biggest daily percentage decline since late January on forecasts for less hot weather through the end of July than previously forecast and a slow return of production from the Gulf of Mexico after Tropical Storm Barry.

BASE METAL - Base metals may trade with mixed path. Peruvian President Martin Vizcarra rejected a demand from a regional governor on Tuesday to cancel a permit for Southern Copper Corps $1.4 billion Tia Maria copper mine project amid protests from local residents. London zinc prices fell on Wednesday, ending a five-session streak of gains, after data showed a global zinc market deficit narrowed in May. The global zinc market deficit narrowed to 27,200 tonnes in May from an upwardly revised deficit of 87,500 tonnes in April, data from the International Lead and Zinc Study Group (ILZSG) showed. Zinc inventories in LME-approved warehouses have risen around 60% since April when the stockpiles hit a record low, while stocks in warehouses tracked by ShFE have jumped 268% year-to-date. The global lead market recorded a 13,400-tonne surplus in May after a deficit of 30,800 tonnes in April, data from the ILZSG showed.
 



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
For more details call on 9977499927 or visit our website www.capitalstars.com

Monday, 15 July 2019



BULLION - Bullion counter may trade on sideways to weaker path as gold prices were little changed in early Asian trade on Tuesday as investors awaited U.S. retail sales data due later in the day for further clues on policy easing from the Federal Reserve in the face of a global slowdown. The dollar index was relatively unchanged against a basket of major currencies as the prospect of a Federal Reserve interest rate cut later in the month kept the greenback on the defensive. A rate cut this month is seen as certain with interest rate futures traders pricing in a 72% chance of a 25 basis point cut and a 28% likelihood of a 50 basis point cut, according to the CME Group's FedWatch tool. Longer-dated U.S. Treasury yields edged lower on Monday as investors focused on Tuesday's retail sales figures as the next indicator of the strength of the U.S. economy. India's gold imports rose 13.04% to $2.69 billion in June compared with a year earlier, the trade ministry said in a statement on Monday.

ENERGY- Crude oil may trade on weaker path as oil prices fell for a second day on Tuesday as more production facilities returned to operation in the U.S. Gulf after Hurricane Barry swept through over the weekend, while Chinese economic data dimmed the outlook for crude demand. U.S. crude fell by 10 cents, or 0.2% to $59.48 a barrel. The U.S. benchmark fell about 1% in the previous session. Both contracts last week made their biggest weekly gains in three weeks as U.S. oil inventories fell and diplomatic tensions rose in the Middle East. In the U.S. there was 1.3 million barrels per day (bpd) of oil production offline in the U.S.-regulated areas of the Gulf of Mexico on Monday, about 80,000 barrels fewer than on Sunday. Workers also were returning to the more than 280 production platforms that had been evacuated. It can take several days for full production to be resumed after a storm leaves the Gulf of Mexico.

BASE METAL - Base metals may trade with mixed path. U.S. President Donald Trump on Monday seized on slowing economic growth in China as evidence that U.S. tariffs were havinga major effect and warned that Washington could pile on more pressure as bilateral trade talks sputtered along. Copper prices took a break from a strong rally on Tuesday after positive industrial output and investment data from top consumer China sent prices to a two-week high in the previous session. Three-month copper on the London Metal Exchange was almost unchanged at $5,985.50 a tonne by 0229 GMT, while the most-traded copper contract on the Shanghai Futures Exchange advanced 0.3% to 46,930 yuan ($6,827.17) a tonne. Protesters blocked a portion of Perus main coastal highway on Monday in the start of a new challenge to Southern Copper Corps $1.4 billion Tia Maria copper mine project that has been a lightning rod for conflict.
 



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
For more details call on 9977499927 or visit our website www.capitalstars.com

Sunday, 14 July 2019



BULLION - Bullion counter may trade on sideways path as some profit booking can be seen at higher levels. Gold prices held steady, as Chinas industrial output grew 6.3% in June from a year earlier, official data showed on Monday, picking up from Mays 17-year low and handily beating market expectations. Retail sales for June rose 9.8% in annual terms. Analysts had expected growth to cool to 8.3% from Mays 8.6%. Hedge funds and money managers cut their bullish stance in COMEX gold in the week to July 9, the U.S. Commodity Futures Trading Commission (CFTC) said in a report on Friday. Physical gold buying stalled in top Asian hubs last week as consumers sold back bullion to cash in on a steep price rally, while a recent import duty hike further dented waning interest in an Indian market hit by a surge in local rates.

ENERGY- Crude oil may trade on weaker path as oil prices slipped on Monday after China posted its slowest quarterly economic growth in at least 27 years, reinforcing concerns about demand in the world's largest crude oil importer. Refineries in the path of Tropical Storm Barry continued to operate despite flood threats while the storm has slashed U.S. Gulf of Mexico crude output by 73%, or 1.38 million barrels per day. An unwinding of the risk premium from tropical storm Barry, lower oil demand forecasts and a lack of news from the Middle East may have led to a muted oil price reaction. China's economic growth slowed to 6.2% in the second quarter from a year earlier, in line with analysts' expectations, with demand at home and abroad faltering as the Sino-U.S. trade war bites. In the Middle East, Iranian President Hassan Rouhani said in a televised speech on Sunday that Iran is ready to hold talks with the United States if Washington lifts sanctions and returns to the 2015 nuclear deal it quit last year. Chinas June crude oil throughput rose 7.7% year on year to 53.7 million tonnes, the National Bureau of Statistics said on Monday.

BASE METAL - Base metals may trade with sideways path. Three-month copper on the London Metal Exchange edged up 0.1% to $5,939 a tonne, while the most-traded copper contract on the Shanghai Futures Exchange eased 0.1% to 46,620 yuan a tonne. Chinas June unwrought copper imports fell 27.2% from a year earlier to 326,000 tonnes, while copper concentrate imports in June dropped to a six-month low at 1.47 million tonnes, official data showed. Chinese steel futures dropped to their lowest in three weeks on Monday, staying under pressure due to uncertain prospects for demand amid a gloomy outlook for the worlds second-largest economy, and weak production margins. Shanghai nickel prices on Monday surged to their highest in more than 10 months, tracking an overnight rally in London, on concerns that top producer Indonesia will resume an export ban on ore in 2022. Indonesia, which has large nickel laterite ore reserves used to make nickel pig iron for the stainless steel industry, relaxed a ban to export nickel ore in 2017, but said at the time exports of unprocessed ore will be restricted again in 2022.
 



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
For more details call on 9977499927 or visit our website www.capitalstars.com

Thursday, 11 July 2019





BULLION - Bullion counter may trade on sideways path as some profit booking can be seen at higher levels. Gold prices rose on Friday and were on track for a weekly gain, as worries over renewed U.S.-China trade tensions and expectations of a rate cut by the Federal Reserve boosted demand for the safe-haven metal. Fed Chair Jerome Powell indicated on Thursday that a rate cut is likely at the Feds next meeting as businesses slow investment due to trade disputes and a global growth slowdown. U.S. President Donald Trump said on Thursday that China was not living up to promises it made on buying agricultural products from American farmers. Meanwhile, the dollar index steadied on Friday after falling to near one-week low in the previous session, regaining some traction against its peers on stronger U.S. inflation data. The signs of a pick-up in underlying inflation, along with separate data on weekly jobless claims showing the labour market remained solid, curbed financial market expectations of a more aggressive 50 basis point cut at the Feds July 30-31 meeting.

ENERGY- Crude oil may trade on upside path as oil prices rose on Friday as U.S. oil producers in the Gulf of Mexico cut more than half their output in the face of a tropical storm and as tensions continued in the Middle East. By Thursday, oil companies in the Gulf of Mexico had cut more than 1 million barrels per day (bpd) of output, or 53% of the regions production, due to Tropical Storm Barry. The storm was forecast to become a category one hurricane with at least 74-mile-per hour (119 km-per-hour) winds. Brent crude oil ... extended its gains as storms in the Gulf of Mexico halted production of oil and U.S. oil inventories continued to recede more than expected. Meanwhile, Irans alleged attempt to block a British-owned tanker heightened tensions in the Middle East in the wake of attacks on tankers and the downing of U.S. drone by Iran in June. But a lower 2020 oil demand outlook from the Organization of the Petroleum Exporting Countries kept price gains in check. OPEC said the world would need 29.27 million bpd of crude from its 14 members in 2020, down 1.34 million bpd this year. U.S. natural gas futures fell on Thursday, a day after hitting a five-week high, as midday forecasts called for less hot weather over the next two weeks than previously expected.

BASE METAL - Base metals may trade with sideways path. Industrial metals traded in tight ranges on Friday, as investors exercised caution ahead of a key set of data from top metal player China later in the session. China is due to release its trade data for the month of June later on Friday, including imports and exports figures of key metals. China is the worlds biggest copper consumer and a key user or producer of the majority of the main base metals. U.S. President Donald Trump said on Thursday that China was not living up to promises it made on buying agricultural products from American farmers as the worlds two largest economies work to resolve a trade dispute.

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
For more details call on 9977499927 or visit our website www.capitalstars.com

Wednesday, 10 July 2019



BULLION - Bullion counter may trade on weaker path as gold prices slipped on Wednesday as higher Treasury yields lifted the dollar, while markets awaited testimony from Federal Reserve Chair Jerome Powell for clarity on an expected U.S. rate cut. The dollar index edged toward a three-week high against a basket of major currencies on Wednesday, as easing bets of deep U.S. interest rate cuts pushed Treasury yields higher. Fed Chair Powell testifies before Congress on Wednesday and Thursday and the direction of the U.S. dollar depends on the tone of his comments. Expectations for a 50 basis point rate cut this month have evaporated, but investors still expect a 25 basis point cut due to weak inflation and trade war worries. Futures are still fully priced for a 25-basis-point cut at the Feds July 30-31 meeting, but have abandoned wagers on a half-point move. They had implied a 25% probability of an aggressive cut before Fridays upbeat jobs report.

ENERGY
- Crude oil may trade on upside path as oil prices gained more than 1% in early trade on Wednesday, led by U.S. crude after an industry group reported that U.S. stockpiles fell for a fourth week in a row, alleviating concerns about oversupply. The U.S. and global benchmarks have risen this year as OPEC and big producers like Russia have honored commitments to cut production and support prices. U.S. crude stockpiles fell more than forecast last week, while gasoline inventories decreased and distillate stocks built, data from industry group the American Petroleum Institute (API) showed on Tuesday. Oil prices have been under pressure from concerns about global economic growth amid growing signs of harm from the U.S.-China trade war that has rumbled on over the last year.

BASE METAL
- Base metals may trade with positive path. Metals and mining company Nyrstar said on Tuesday that it was extending force majeure at its Port Pirie lead and zinc smelter in Australia until the last week of July, from the second week of this month as previously planned. Shanghai lead hit a two-month high at 16,450 yuan a tonne, while London lead hovered around a one-week high, trading up 0.4% at 0203 GMT. Nickel may test 920 while taking support near 900. London nickel rose as much as 2.1% to $12,970 a tonne, its highest since April 17, while Shanghai nickel jumped to 103,160 yuan ($14,985.69) a tonne, a three-month high. 



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
For more details call on 9977499927 or visit our website www.capitalstars.com

Tuesday, 9 July 2019


BULLION - Bullion counter may trade on weaker path as gold prices slipped on Wednesday as higher Treasury yields lifted the dollar, while markets awaited testimony from Federal Reserve Chair Jerome Powell for clarity on an expected U.S. rate cut. The dollar index edged toward a three-week high against a basket of major currencies on Wednesday, as easing bets of deep U.S. interest rate cuts pushed Treasury yields higher. Fed Chair Powell testifies before Congress on Wednesday and Thursday and the direction of the U.S. dollar depends on the tone of his comments. Expectations for a 50 basis point rate cut this month have evaporated, but investors still expect a 25 basis point cut due to weak inflation and trade war worries. Futures are still fully priced for a 25-basis-point cut at the Fed�s July 30-31 meeting, but have abandoned wagers on a half-point move. They had implied a 25% probability of an aggressive cut before Friday�s upbeat jobs report.

ENERGY- Crude oil may trade on upside path as oil prices gained more than 1% in early trade on Wednesday, led by U.S. crude after an industry group reported that U.S. stockpiles fell for a fourth week in a row, alleviating concerns about oversupply. The U.S. and global benchmarks have risen this year as OPEC and big producers like Russia have honored commitments to cut production and support prices. U.S. crude stockpiles fell more than forecast last week, while gasoline inventories decreased and distillate stocks built, data from industry group the American Petroleum Institute (API) showed on Tuesday. Oil prices have been under pressure from concerns about global economic growth amid growing signs of harm from the U.S.-China trade war that has rumbled on over the last year.

BASE METAL - Base metals may trade with positive path. Metals and mining company Nyrstar said on Tuesday that it was extending force majeure at its Port Pirie lead and zinc smelter in Australia until the last week of July, from the second week of this month as previously planned. Shanghai lead hit a two-month high at 16,450 yuan a tonne, while London lead hovered around a one-week high, trading up 0.4% at 0203 GMT. Nickel may test 920 while taking support near 900. London nickel rose as much as 2.1% to $12,970 a tonne, its highest since April 17, while Shanghai nickel jumped to 103,160 yuan ($14,985.69) a tonne, a three-month high.



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
For more details call on 9977499927 or visit our website www.capitalstars.com

Monday, 8 July 2019



BULLION - Bullion counter may trade on weaker path as gold prices fell on Tuesday as the dollar held near multi-week highs after investors reduced bets on an aggressive U.S. interest rate cut this month. The dollar index was hovering near a three-week high on Tuesday after investors rolled back expectations for a sharp U.S. rate cut at the end of July. Money market futures are still fully pricing in a 25 basis point cut at the Federal Reserves next policy meeting on July 30-31, but have almost priced out a larger 50 basis point reduction. Fed chief Jerome Powells comments in two-day testimony to Congress beginning on Wednesday will be closely watched to determine whether traders will continue to pare bets for deep interest rate cuts. SPDR Gold Trust, the worlds largest gold-backed exchange-traded fund, said its holdings fell 0.15% to 795.80 tonnes on Monday from 796.97 tonnes on Friday.

ENERGY- Crude oil may trade on subdued path as oil fell on Tuesday amid worries over the outlook for demand after the latest signs that international trade disputes have been dragging on the global economy, although tensions in the Middle East offered some support to prices. Oil fell on Tuesday amid worries over the outlook for demand after the latest signs that international trade disputes have been dragging on the global economy, although tensions in the Middle East offered some support to prices. Oil prices are being pressured by ongoing worries about demand as the U.S.-China trade war, heading into its second year, dampens prospects for global economic growth. Japans core machinery orders fell by the most in eight months, data showed on Monday, in a sign the global trade tensions are taking a toll on corporate investment. U.S. natural gas futures eased on Monday from a five-week high in the previous session with production near record highs and forecasts for lower demand over the next two weeks than previously expected.

BASE METAL - Base metals may trade with sideways path.. Copper prices on the London Metal Exchange fell on Tuesday, on track for a third straight decline, amid a lack of news on steps to settle a prolonged trade dispute between the United States and China. Representatives from the two countries were expected to resume talks this week, but nothing has been released about whether the talks happened or whether progress has been made in resolving the year-long dispute that has hurt demand for metals. China will investigate state-owned metals conglomerate China Minmetals Corp Ltd and chemical producer China National Chemical Corp Ltd in a new round of central government environmental audits, the environment ministry said.
 



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
For more details call on 9977499927 or visit our website www.capitalstars.com

Sunday, 7 July 2019





BULLION - Bullion counter may trade on sideways path. Gold prices eased on Monday, following a sharp fall in the previous session, as a strong U.S. jobs report tempered expectations of an aggressive interest rate cut by the Federal Reserve later this month. Nonfarm payrolls increased by 224,000 jobs last month, the most in five months, the U.S. Labor Department reported on Friday. Expectations for a Fed rate cut narrowed with the market now pricing a 27 basis points easing this month, from 33 basis points prior to payrolls. Domestic gold prices in India jumped to a record on Friday following an unexpected increase in import duty in the country's budget, hitting demand and forcing dealers to offer the highest discount in nearly three years. China's gold reserves rose to $87.27 billion at the end of June from $79.83 billion at the end of May.

ENERGY- Crude oil may trade on stronger path as crude prices rose on Monday, adding to gains in the previous session on better than-expected U.S. jobs data, although gains were tempered by worries over the prolonged Sino-U.S. trade war. Both oil benchmarks fell last week as concerns about a slowing global economy outweighed risks to supply. Brent fell more than 3% and WTI shed more than 1.5%.U.S. job growth rebounded strongly in June, with government payrolls surging, the Labor Departments closely watched employment report showed on Friday, suggesting Mays sharp slowdown in hiring was probably a one-off. Employers added 224,000 jobs last month, the most in five months, the report showed. The lack of concrete progress in resolving the acrimonious trade war between the United States and China, however, means the bar could be very high for the U.S. Federal Reserve not to lower borrowing costs at its July 30-31 policy meeting. Oil received some support from simmering tensions over Iran and after an extension last week to output cuts by OPEC and its allies. U.S. natural gas futures jumped to an over one-month high on Friday as weather forecasts turned hotter, overshadowing a surge in gas production.

BASE METAL - Base metals may trade with sideways to upside path. Copper prices dropped on Monday on inventory pile-up amid a steady dollar after strong U.S. jobs data led to tempered expectations of an aggressive rate cut by the Federal Reserve. Copper inventories in warehouses approved by the London Metal Exchange (LME) touched a near 13-month high at 302,975 tonnes on Thursday, data released last week showed. The differences between cash zinc and three-month contract flipped to a discount of $3 a tonne on Friday after holding in premiums zone in nearly five months, suggesting greater availability of nearby supply. ShFE zinc hit a six-month low of 19,265 yuan a tonne, tracking falls on the LME in the previous session on rising supply concerns. LME zinc, however, rebounded 0.3% after hitting its lowest since Jan. 3 on Friday.

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
For more details call on 9977499927 or visit our website www.capitalstars.com

Wednesday, 3 July 2019

 


BULLION - Bullion counter may trade on sideways path. Gold prices were steady on Thursday after hitting a one-week high in the previous session, as gains in stock markets offset support from a weaker dollar and prospects of an interest rate cut by the U.S. Federal Reserve. European Union leaders nominated IMF chief Christine Lagarde as Mario Draghis replacement at the helm of the European Central Bank after marathon talks that have exposed deep divisions in the bloc. German 10-year Bund yields were at record lows and the U.S. benchmark yields are also falling on government monetary policy, giving the equity markets a boost and taking away investor interest from gold. U.S. Treasury yields fell on Wednesday with yields on U.S. benchmark 10-year Treasury notes hitting their lowest in over 2-1/2 years as euro zone yields tumbled on record lows on bets the European Central Banks next chief would stay a dovish course to help the euro zone economy.

ENERGY- Crude oil may trade on weaker path as oil prices inched lower on Thursday after solid gains the day before, pressured by data showing a smaller-than-expected decline in U.S. crude stockpiles. U.S. crude inventories dropped by 1.1 million barrels last week, the Energy Information Administration (EIA) said on Wednesday. That compared with analyst expectations for a decrease of 3 million barrels. But crude prices were underpinned after the Organization of the Petroleum Exporting Countries and other producers such as Russia, a group known as OPEC+, agreed on Tuesday to extend oil supply cuts until March 2020. U.S. natural gas futures rose over 2% on Wednesday on forecasts for higher demand this week and record liquefied natural gas (LNG) exports over the next two weeks.

BASE METAL - Base metals may trade with sideways bias. Base metals on the London Metal Exchange (LME) rose on Thursday following news that the United States and China are set to hold trade talks next week. Top U.S. and Chinese representatives are arranging to talk again next week, U.S. administration officials said on Wednesday, in a move to try to resolve a year-long trade war that has been weighing on global growth and metals demand. Base metals' complex were also supported by hopes that the U.S. Federal Reserve would cut interest rates this month after data from multiple sectors pointed to a slowing economic growth in the U.S. The U.S. trade deficit jumped in May and trade tensions between the United States and China helped drive activity in the services sector to a two-year low in June, further signs that economic growth slowed sharply in the second quarter.
 



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
For more details call on 9977499927 or visit our website www.capitalstars.com

Tuesday, 2 July 2019




BULLION - Bullion counter may trade on positive path as gold prices climbed over 1% to hit a one-week high on Wednesday, helped by a subdued dollar as renewed concerns over global trade encouraged safe-haven demand and drove down U.S. yields. U.S. interest rate futures extended their earlier gains on Tuesday, as traders raised their bets the Federal Reserve would lower borrowing costs by 50 basis points at end of July following comments from Bank of England Governor Mark Carney. Carney said a global trade war and a no-deal Brexit were growing risks to Britain's economy which might need more help to cope with a downturn, prompting investors to increase their bets on a BoE interest rate cut. India's gold imports rose 12.6% in June from a year earlier to $2.69 billion amid a jump in global prices to six-year highs, a government source said on Tuesday. White House trade adviser Peter Navarro said on Tuesday U.S. trade talks with China are heading in the right direction and it will take time to get the right deal made .

ENERGY
- Crude oil may trade on weaker path as oil prices edged higher on Wednesday, steadying after a more than 4% fall in the previous session, as extended output cuts by OPEC and its allies helped underpin prices despite growing concerns about weak demand. An expected large draw in crude oil inventory in the United States also buoyed sentiment after a bigger-than-expected fall in inventories in a private survey. The Organization of the Petroleum Exporting Countries and other producers such as Russia, a group known as OPEC+, agreed on Tuesday to extend oil supply cuts until March 2020 as members overcame differences to try to prop up prices. The Organization of the Petroleum Exporting Countries and other producers such as Russia, a group known as OPEC+, agreed on Tuesday to extend oil supply cuts until March 2020 as members overcame differences to try to prop up prices.

BASE METAL - Base metals may trade with sideways to weak bias. The U.S. Commerce Department said on Tuesday it would impose duties of up to 456% on certain steel produced in South Korea or Taiwan that are then shipped to Vietnam for minor processing and finally exported to the United States. Aluminum producer Alcoa Corp said on Tuesday it expects to incur a charge of between $40 million and $50 million in the second half of 2019, related to restarting operations at its Canadian smelter in Becancour, Quebec.



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
For more details call on 9977499927 or visit our website www.capitalstars.com
 

Monday, 1 July 2019



BULLION - Bullion counter may trade on positive path as gold prices rose on Tuesday buoyed by a safe-haven sentiment emanating from weak global manufacturing data that hinted at an economic slowdown, a day after the metal declined more than 1% on expectations of a U.S.-China trade truce. Factory activity shrank across much of Europe and Asia in June while growth in manufacturing cooled in the United States, keeping the world's policymakers under pressure to avert a recession amid a U.S.- China trade war. U.S. manufacturing activity slowed to near a three-year low in June, with a measure of new orders received by factories tumbling, amid growing anxiety over an escalation in trade tensions between the United States and China. President Donald Trump said on Monday that trade talks with China were under way and any deal would need to be somewhat tilted in favor of the United States.

ENERGY- Crude oil may trade on weaker path as oil prices slipped on Tuesday as worries that a weakening global economy would dent demand for the commodity outweighed OPEC�s decision to extend supply cuts until next March. U.S. crude futures for August had fallen 48 cents, or 0.8%, to $58.61 a barrel, after touching their highest in over five weeks on Monday. The trade war is not likely to get resolved any time soon and while central banks globally are expected to deliver fresh stimulus in the coming months, economic activity is continuing to trend lower. The Organization of the Petroleum Exporting Countries (OPEC) agreed on Monday to extend oil supply cuts until March 2020 as the group�s members overcame their differences in order to try to prop up the price of crude. OPEC is slated to meet with Russia and other producers, an alliance known as OPEC+, later on Tuesday to discuss supply cuts amid surging U.S. output. Russian President Vladimir Putin said on Saturday he had agreed with Saudi Arabia to extend global output cuts of 1.2 million barrels per day, or 1.2% of world demand, until December 2019 or March 2020. U.S. producers hit a monthly record of 12.16 million barrels per day (bpd) in April, the latest available data showed, though new U.S. shale oil production is expected to slip this year from last year, according to a survey of major forecasters.

BASE METAL - Base metals may trade with sideways bias. Three-month LME copper was flat at $5,953 a tonne, after ending 0.6% lower on Monday as euphoria over a U.S.-China trade truce gave way to lingering fears over demand. Shanghai copper slipped 1.4% to 46,620 yuan a tonne. Shanghai nickel prices slumped nearly 4% in early trade on Tuesday, tracking a steep fall in London in the previous session as investors chose to book profits. The metal used to make stainless steel was the standout performer in the base metals complex in the first half of 2019 with a gain of more than 12% in London, but is now on course to close lower for a third straight session. Freeport-McMoRan Inc said on Monday it expected to report a loss in the second quarter, hit by lower gold production, weaker copper prices and higher costs, sending the U.S. miner's shares down nearly 6%.



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
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Sunday, 30 June 2019



BULLION - Bullion counter may trade on weaker side as gold prices fell more than 1% on Monday, their lowest in a week, as hopes of a trade deal between the United States and China improved risk appetite, while a stronger dollar further weighed on prices. The United States and China agreed on Saturday to restart trade talks after President Donald Trump offered concessions including no new tariffs and an easing of restrictions on tech company Huawei in order to reduce tensions with Beijing. Also, China agreed to make unspecified new purchases of U.S. farm products and return to the negotiating table. China and the United States will face a long road before they can reach a deal to end their bitter trade war, with more fights ahead likely, Chinese state media said after the two countries presidents held ice-breaking talks in Japan. Hedge funds and money managers boosted their bullish stance in COMEX gold in the week to June 25, the U.S. Commodity Futures Trading Commission said on Friday.

ENERGY- Crude oil may trade on upside path as oil prices rose more than $1 a barrel on Monday after Saudi Arabia, Russia, Iraq backed an extension of supply cuts for another six to nine months ahead of an OPEC meeting this week. The Organization of the Petroleum Exporting Countries (OPEC) and its allies look set to extend oil supply cuts until at least until the end of 2019 as top producers on Sunday endorsed a policy aimed at propping up the price of crude. OPEC, Russia and other producers, an alliance known as OPEC+, meet on July 1-2 to discuss supply cuts. The group has been reducing oil output since 2017 to prevent prices from sliding amid a weakening global economy and soaring U.S. output. Russian President Vladimir Putin said on Sunday he had agreed with Saudi Arabia to extend existing output cuts of 1.2 million barrels per day (bpd) by six to nine months. Saudi Energy Minister Khalid al-Falih said the deal would most likely be extended by nine months and no deeper reductions were needed. The number of rigs drilling for natural gas in the United States fell by 4 this week to 173, data from oil services firm Baker Hughes showed on Friday.

BASE METAL - Base metals may trade with positive bias. Chinas official Purchasing Managers Index (PMI) stood at 49.4 in June, showing factory activity shrinking more than expected in June, as U.S. tariffs and weaker domestic demand pressured on new orders. Copper and other base metals rallied on Monday, after the United States and China agreed to restart trade talks, easing risks of severe global economic growth that hurt demand for metals. The number of artisanal miners killed by a landslide at a copper and cobalt mine run by Glencore in Congo rose to 43 on Friday and officials said the army would deploy at the mine as the search for more victims continued. All other base metals rallied on the London Metal Exchange, with London nickel touching its highest since April 18, while all metals except tin rose in Shanghai. Chiles Codelco, the worlds top copper miner, said on Friday its Chuquicamata mine was fully operational after a two-week long strike that had docked output from the sprawling deposit came to an end.
 



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
For more details call on 9977499927 or visit our website www.capitalstars.com