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Showing posts with label Financial Advisory Company in Indore. Show all posts
Showing posts with label Financial Advisory Company in Indore. Show all posts

Tuesday, 11 December 2018


BULLION:-

Gold prices were steady early on Wednesday, supported by expectations of fewer rate hikes by the U.S. Federal Reserve next year, while palladium traded at a premium to gold. The dollar held near a one-month high against its peers on Wednesday, supported by a rebound in U.S. yields and weakness of the pound as its battering from uncertainty about Brexit continued. Asian stock markets edged ahead as U.S. President Donald trump sounded upbeat about a trade deal with China. China has agreed to cut tariffs on U.S.-built cars and auto parts to 15 percent from the current 40 percent, a Trump administration official said on Tuesday, setting the stage for new talks aimed at easing the bitter trade war between the world's two largest economies. U.S. producer prices unexpectedly rose in November as increases in the costs for services offset a sharp decline for energy products, but the overall momentum in wholesale inflation appears to be slowing. An attempt to oust British Prime Minister Theresa May gathered pace on Tuesday, a day after her decision to delay a vote in parliament on her Brexit deal for fear of a rout angered many in her Conservative Party. One of the International Monetary Fund's top officials warned on Tuesday that storm clouds were gathering over the global economy and that governments and central banks might not be well-equipped to cope.

METALS:-

Short-covering pushed LME copper to the day’s highs of $6,194.5/mt on tuesday. The contract relinquished some gains to close at $6,146/mt as the US dollar gained. The SHFE 1902 contract climbed to a high of 49,370 yuan/mt overnight after a higher open. It came off to close at 49,240 yuan/mt. We expect upward momentum in copper prices to wane today. LME copper is expected to trade at $6,120-6,170/mt with the SHFE 1902 contract at 49,000-49,400 yuan/mt. Spot premiums are seen at 80-220 yuan/mt. As the US dollar surged, LME nickel tumbled to close lower at $10,745/mt overnight, down from the day’s highs of $10,945/mt. The rebound in the dollar also weighed the SHFE 1905 contract overnight. The contract came off from a high of 89,940 yuan/mt to fall into the red, ending at 88,830 yuan/mt. LME nickel is expected to hover around $10,800/mt today with the SHFE 1905 contract at 88,500-90,000 yuan/mt. Spot prices are seen at 89,000-96,500 yuan/mt.

ENERGY:-

Oil prices climbed by more than 1 percent on Wednesday, lifted by expectations that an OPEC-led supply cut announced last week for 2019 would stabilise markets as well as hopes that long-running Sino-American trade tensions could ease. Disruptions to Libyan oil exports after local militia seized the country's biggest oil field, El Sharara, were also buoying prices, traders said. The higher prices came amid a broader increase in Asian stock markets after U.S. President Donald Trump told Reuters in an interview that trade talks with China were taking place to defuse the trade disputes between the world's two biggest economies. To oil markets was a decision by the Organisation of the Petroleum Exporting Countries (OPEC) and some non-OPEC producers including Russia last week to cut supply by 1.2 million barrels per day (bpd). Crude prices had lost a third of their value between early October and the announcement of the cuts.


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Thursday, 6 December 2018


BULLION:-

Gold prices rose slightly on Friday and were headed for their best week in 15, as the dollar weakened following a decline in U.S. Treasury yields, while investors awaited U.S. nonfarm payroll data for clues about the health of the world's top economy. Atlanta Federal Reserve bank president Raphael Bostic on Thursday said he felt the Fed should continue raising rates towards a "neutral" level, noting that despite recent market volatility and increasing uncertainty, he did not see "any indications of a material weakening in the macroeconomic data at the moment." The U.S. economy is "performing very well overall," Federal Reserve Chairman Jerome Powell said, capping a week of widespread market nervousness with a reminder that the U.S. economy continues to expand. Asian share markets tried to find their footing on Friday as speculation the Federal Reserve might be "one-and-done" with U.S. rate hikes helped salve some wounds after a punishing week.

METALS:-

London copper slid to a low of $6,080/mt on Thursday as shorts added their positions after the contract climbed to a high of $6,120.5/mt. LME copper later rebounded to end at $6,134.5/mt. After opening in the red, the SHFE 1902 contract fluctuated overnight and closed at 48,950 yuan/mt. As both LME and SHFE copper have fallen below all short-term moving averages, copper prices are expected to remain weak and trade range bound at lows today. LME copper is likely to trade at $6,080-6,120/mt today with the SHFE 1902 contract at 48,600-49,000 yuan/mt. Spot premiums are seen at 120-320 yuan/mt. London nickel slumped on Thursday and ended at $10,860/mt. After opening lower, the SHFE 1901 contract fell to 88,640 yuan/mt overnight as shorts added and longs cut their bets. It clawed back some losses in later trades and closed at 89,010 yuan/mt. With worries over an escalation in the US-China trade tensions on Huawei CFO arrest, We expect LME nickel to weaken when hovering around $10,900/mt today and the SHFE 1901 contract to trade at 88,500-90,000 yuan/mt. Spot prices are seen at 88,500-98,000 yuan/mt.

ENERGY:-

Oil prices fell on Friday, pulled down by OPEC's decision to delay a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia. The declines came after crude slumped by almost 3 percent the previous day, with the Organization of the Petroleum Exporting Countries (OPEC) ending a meeting at its headquarters in Vienna, Austria, on Thursday without announcing a decision to cut crude supply, instead preparing to debate the matter on Friday.Has decided to meet Friday again...(as) Russia remains the sticking point," said Stephen Innes, head of trading for Asia/Pacific at futures brokerage Oanda in Singapore. "We are beginning to witness the outline of the next iteration of production cuts, with OPEC conforming to cut its own production by around 1 million barrels per day, with the cartel lobbying non-OPEC members to contribute more," Japanese bank MUFG said in a note. Oil producers have been hit by a 30-percent plunge in crude prices since October as supply surges just as the demand outlook weakens amid a global economic slowdown. Output from the world's biggest producers - OPEC, Russia and the United States - has increased by 3.3 million bpd since the end of 2017, to 56.38 million bpd, meeting almost 60 percent of global consumption.


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Tuesday, 4 December 2018


BULLION:-

Gold prices were steady early Wednesday as the dollar edged up, while palladium dipped from record highs touched in the previous session but was in close proximity to the bullion. Spot gold was at $1,236.85 per ounce at 0121 GMT. In the previous session, prices touched a peak of $1,241.86, their highest since Oct. 26. US gold futures were down 0.4 per cent at $1,241.4 per ounce. One of the most influential Federal Reserve policymakers said on Tuesday he expects further interest rate hikes continuing next year since the US economy is "in really good shape," reinforcing the Fed's upbeat tone in the face of growing doubts in financial markets. US President Donald Trump on Tuesday held out the possibility of an extension of the 90-day trade truce with China, but warned he would revert to tariffs if the two sides could not resolve their differences. 

METALS:-

London copper fell to close at $6,168.5/mt overnight as shorts built their bets on the recovery of the US dollar. The SHFE 1902 contract slid to close at 49,230 yuan/mt after a lower open overnight. Copper prices are likely to remain range bound at lows today with a trading range of $6,150-6,200/mt for LME copper and of 49,200-49,700 yuan/mt for the SHFE 1902 contract. Spot premiums are seen at 110-260 yuan/mt. London nickel relinquished earlier gains and closed at $11,130/mt overnight as the US dollar climbed. The SHFE 1901 contract tumbled and closed at 90,740 yuan/mt overnight as gains in the dollar encouraged shorts to add bets and forced longs to cut bets. LME nickel is expected to weaken to hover around $11,100/mt today and the SHFE 1901 contract is expected to trade at 90,500-92,000 yuan/mt. Spot prices are seen at 90,500-99,500 yuan/mt.

ENERGY:-

With less than 48 hours to go before a critical OPEC gathering, Saudi Arabia and Russia are set to meet in Vienna for a make-or-break preparatory meeting on Wednesday that’s going to set the direction for the oil market. The stakes are high after crude prices suffered their largest monthly drop since the global financial crisis in November, and politicians from U.S. President Donald Trump to French President Emmanuel Macron have called on OPEC to keep energy prices in check. Saudi Energy Minister Khalid Al-Falih on Tuesday cautioned an output deal wasn’t done -- at least not yet. In an interview with Bloomberg, Al-Falih said that it was “premature” to say that the OPEC+ group, which includes allies such as Russia and Kazakhstan, will agree to cut output. His comments were less bullish than last month’s statements in Abu Dhabi when he called for 1 million barrels a day of production cuts. Crude gave up much of its gains on Tuesday following his comments. The opportunity for countries to put their cards on the table comes on Wednesday at the Joint Ministerial Monitoring Committee, the panel that oversees the 2016 deal between OPEC and its allies.



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Sunday, 2 December 2018


BULLION:-

Gold prices were steady early on Monday as the dollar weakened on U.S.-China trade truce that revived investor demand for riskier assets. Spot gold inched up 0.1 percent to $1,222.97 per ounce at the time of writing. U.S. gold futures were up 0.2 percent at $1,228.1 per ounce. The dollar index, which measures the greenback against a basket of six major currencies, was down about 0.2 percent. Asian shares rallied on Monday after U.S. and Chinese leaders brokered a truce in their trade conflict, a relief for the global economic outlook and a tonic for emerging markets. China and the United States agreed to halt additional tariffs in a deal that keeps their trade war from escalating as the two sides try again to bridge their differences with fresh talks aimed at reaching an agreement within 90 days. If no deal is reached within 90 days, both parties agreed that the 10 percent tariffs will be raised to 25 percent, the White House said. Speculators increased their net short position in gold by 8,464 contracts to 51,828 contracts, according to U.S. Commodity Futures Trading Commission data. Physical gold demand in the world’s second biggest bullion consumer India got a fillip this week from a slide in local rates due to gains in the rupee, while buying was steady in other top Asian hubs. The U.S. Mint sold 8,000 ounces of American Eagle gold coins in November, down 67.3 percent from the previous month, according to the latest data.

METALS:-

London and Shanghai industrial metals jumped on Monday after U.S. and Chinese leaders agreed to a ceasefire in a trade dispute that has shaken global markets. China and the United States agreed to halt additional tariffs in a deal that keeps their trade war from escalating as the two sides try again to bridge their differences with fresh talks aimed at reaching an agreement within 90 days. The White House said on Saturday that President Donald Trump told Chinese President Xi Jinping during high-stakes talks in Argentina that he would not boost tariffs on $200 billion of Chinese goods to 25 percent on Jan. 1 as previously announced. Three-month copper on the London Metal Exchange rose 2.3 percent to $6,338.5 a tonne at the time of writing, while the most-traded copper contract on the Shanghai Futures Exchange climbed 1.7 percent to 50,420 yuan ($7,248.63) a tonne. Other industrial metals also rose, with Shanghai zinc jumping 4.7 percent to 21,370 yuan a tonne. A total of 79 Chinese cities have triggered air pollution alerts as severe winter smog covers wide swaths of the country, the official Xinhua news agency reported on Saturday.  

ENERGY:-

Oil jumped on Monday after Russia and Saudi Arabia agreed to extend into 2019 their deal to manage the oil market, known as OPEC+, although Moscow and Riyadh have yet to confirm any fresh output cuts. U.S. West Texas Intermediate (WTI) crude futures were at $53.38 per barrel at the time of writing, up $2.45 per barrel, or 4.8 percent from their last close. International Brent crude oil futures were up $2.38 per barrel, or 4 percent, at $61.84 a barrel. China and the United States agreed during the meeting of the Group of 20 (G20) leading economies in Argentina over the weekend not to impose additional trade tariffs for at least 90 days while the pair hold talks to resolve existing disputes. The trade war between the world’s two biggest economies has weighed heavily on global trade, sparking concerns of an economic slowdown. Looking ahead, oil traders will eye a meeting by the Organization of the Petroleum Exporting Countries (OPEC) on Dec. 6. At the meeting, the producer group, as well as non-OPEC member Russia, is expected to announce supply cuts aimed at reining in a production overhang that has pulled down crude prices by around a third since October.  


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Thursday, 29 November 2018


Bullion:-

Gold prices were flat early on Friday as the dollar steadied ahead of the G20 meet in Argentina this weekend, where US and Chinese leaders are scheduled to discuss trade matters after months of tensions. Spot gold was flat at $1,223.77 per ounce at 0126 GMT. Prices had hit a one-week high of $1,228.96 per ounce on Thursday. US gold futures were down 0.2 per cent at $1,221.6 per ounce. Palladium was up about 0.2 per cent at $1,183.20 per ounce after hitting a record high of $1,190 earlier in the session. The metal was on track to mark its best month since December 2017. US trade restrictions have hit a total of $369 billion of Chinese exports this year, much higher than the $278 billion of goods impacted by tariffs alone, a regular monitoring report of G20 trade restrictions said on Thursday. 

Metals:-

The SHFE 1902 contract came off after it rose twice above the daily moving average as the market remained cautious ahead of the G20 meeting on Friday and Saturday. It closed at 49,530 yuan/mt, with open interests losing 3,242 lots. LME copper unsuccessfully tested support at the daily moving average as longs exited the market. With support at the 40-day moving average, it is expected to trade at $6,200-6,240/mt, with its SHFE counterpart at 49,400-49,800 yuan/mt. Spot premiums are seen firm at 90-150 yuan/mt on the last trading day for products with a November invoice. The SHFE nickel 1901 contract led increases among base metals, closing 1.47% higher overnight, with its LME counterpart rising 1.33%, even as the US dollar recovered. We expect LME nickel to hover around $10,900 /mt, with the contract trading at 89,000-91,000 yuan/mt today. Spot prices are seen at 90,000-100,000 yuan/mt today.

Energy:-

Oil prices firmed on Friday on expectations that OPEC and Russia will agree some form of production cuts next week, although swelling U.S. supplies kept markets in check. Despite the firmer prices, crude oil has lost almost a third in value since early October because of an emerging supply glut following a global surge in production, including from the United States, Russia and by the Middle East-dominated Organization of the Petroleum Exporting Countries (OPEC). To rein in the glut, OPEC and its main partner Russia are moving closer to an agreement around further production cuts. Bank said on Friday that oil prices were rebounding "as signs that OPEC+ was moving closer to an agreement around further production cuts." The producer group plus non-OPEC member Russia will gather on Dec. 6 and 7 in Vienna to discuss output policy. Before that, the world's top three producers - the United States, Russia and Saudi Arabia - will be part of a meeting of the Group of 20 industrialized nations in Buenos Aires, Argentina, this weekend.



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Wednesday, 28 November 2018


BULLION:-
Gold prices firmed on Thursday as the dollar faltered following dovish comments from U.S. Federal Reserve Chair Jerome Powell, calming investor concerns over the pace of rate hikes. "The dovish Fed stance was relatively constructive from pure dollar trade perspective and it could edge off the dollar and continue to do so until the year end, which is quite significant for gold prices," said Stephen Innes, APAC trading head at OANDA in Singapore. The dollar slipped from a two-week high on Wednesday after Powell said interest rates are just below neutral, raising expectations that the U.S. central bank is closer to the end of its rate hike cycle. USD/ weaker dollar helps other local currencies such as China and India get back in the game, which could add to gold's lustre," Innes added. A weaker greenback makes the dollar-denominated gold cheaper for other non-U.S. buyers.

METALS:-
Copper led gains across base metals overnight, as the US dollar dipped from two-week highs after the US Federal Reserve described interest rates as "just below" the neutral rate. LME copper rebounded back above all moving averages, and above the Bollinger middle band. It closed at $6,251.5/mt after surged to a high of $6,269/mt. The SHFE copper dominant contract changed to the 1902 contract overnight, which rallied above the five- and 60-day moving averages on longs’ support. We expect it to trade at 49,200-49,600 yuan/mt with its LME counterpart trading at $6,180-6,230/mt today. Spot premiums are set at 70-130 yuan/mt. As a weaker US dollar grew confidence across longs, LME nickel broke pressure at $10,860/mt and rose to a high of $10,880/mt after hovering around the daily moving average overnight. The SHFE 1901 contract registered a slower growth, pressured by domestic slow consumption.  

ENERGY:-
Oil prices ticked higher on Thursday on optimism that trade talks at the G20 meeting could aid the global economy and improve the demand outlook, while an increase in U.S. crude inventories to their highest in a year curbed gains. "We have seen huge increases in supply and the demand picture is in question. However, we might see some movement on global trade issues at the G20 meeting which starts on Friday," said Michael McCarthy, chief strategist at CMC Markets and Stock broking. Investors in commodity markets are looking ahead to the meeting of leaders of the Group of 20 nations (G20), the world's biggest economies, on Nov. 30 and Dec. 1, with the U.S.-China trade war at the top of the agenda. U.S. President Donald Trump is open to a trade deal with China but is also prepared to hike tariffs on imports from the country if there is no breakthrough on longstanding trade issues during a dinner on Saturday with Chinese leader Xi Jinping, White House economic adviser Larry Kudlow said on Tuesday. Said China will widen market access for foreign investors and step up protection of intellectual property rights. Rising supplies are keeping a lid on prices.


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Monday, 26 November 2018


BULLION:-

Gold prices inched lower on Tuesday as the dollar steadied amid fears of a slowdown in global economic growth and increasing pessimism due to a likely worsening of U.S-China trade dispute ahead of the G20 meet. Asian shares battled to extend a global rebound on Tuesday after U.S. President Donald Trump seemed to quash hopes of a trade truce with China, dampening risk appetite across the region Trump said on Monday he expected to move ahead with raising tariffs on $200 billion in Chinese imports to 25 percent from the current 10 percent and repeated his threat to slap tariffs on all remaining imports from China. Prime Minister Theresa May warned on Monday that Britain would be thrust into the unknown if parliament rejects the Brexit deal she has negotiated with the European Union, as lawmakers from all sides lined up to criticize the agreement. The euro zone has lost some growth momentum but this was mostly normal and not enough to derail plans by the European Central Bank to dial back stimulus further, ECB President Mario Draghi and two of his top lieutenants said on Monday.

METALS:-

London copper received support at the 20- and 60-day moving averages, after it tested support at $6,155/mt several times overnight as the US dollar strengthened. It settled 0.07% higher on the day and may trade at $6,160-6,210/mt today. The SHFE 1901 contract rallied from a low of 48,650 yuan/mt, but failed to stand above the Bollinger middle band. It closed at 49,290 yuan/mt, with open interests up 7,934 lots to 527,000 lots. A technical rebound is expected in the contract in the short run. It will trade at 48,900-49,400 yuan/mt today, with spot premiums firm at 60-130 yuan/mt. A buoyant mood ahead of this week's G-20 summit in Argentina bolstered LME nickel and the SHFE 1901 contract on the day. A stronger US dollar on expectations of further interest rate hikes limited the increase. We expect LME nickel to hover weakly around $10,850/mt, with the 1901 contract trading at 88,000-90,000 yuan/mt today. Spot prices are seen at 89,000-100,000 yuan/mt today.

ENERGY:-

Oil markets were trading cautiously on Tuesday, with mixed signals coming from top exporter Saudi Arabia ahead of an OPEC meeting in Austria next week. Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, pumping 11.1 million to 11.3 million barrels per day (bpd) during the month. Prices have lost almost a third of their value since early October, weighed down by an emerging supply overhang and widespread financial market weakness is on a slippery slope," said Norbert Ruecker, head of commodity research at Swiss bank Julius Baer. Ruecker said the weak sentiment "follows a surprisingly swift and pronounced change in the market mood from shortage fears to glut concerns," while the world economy was also slowing down. Traders said they were awaiting the outcome of the Group of 20 (G20) meeting in Buenos Aires and also the result of a meeting of the Organization of the Petroleum Exporting Countries (OPEC).


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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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Wednesday, 21 November 2018


BULLION:-

Gold prices held firm on Thursday after hitting the highest in two weeks in the previous session, with improved risk appetite weighing on the U.S. dollar. The dollar was broadly lower as demand for safe haven currencies declined after a rebound in global equities and the euro strengthened on hopes for a resolution of Italy's budget dispute. Meanwhile, Asian shares stepped ahead cautiously, though rising U.S. interest rates and escalating trade tensions kept financial markets on edge amid signs of slackening global growth. The dollar has been under pressure this week as cautious comments by Fed officials about a potential global slowdown raised doubts on the pace of interest rate hikes. The doubts were heightened by data on Wednesday showing weekly jobless claims rose to a more than four-month high and new orders for U.S.-made capital goods were unexpectedly flat in October. Are seeing some impact of the weaker than expected durable goods number, which has reinforced investors to question their expectations of rate hikes in 2019 and weaker dollar followed," Hynes added.

METALS:-

London copper received support at the Bollinger middle band as it extended its increase of the daytime and mostly hovered above the daily moving average. It closed at $6,233/mt after rising to a high of $6,240/mt. With support at the five-day moving average, the SHFE 1901 contract settled at 49,530 yuan/mt with open interest up 2,704 lots to 518,000 lots. Market sentiment improved as the equity selloff eased. Development of China-US trade conflict will remain in focus in the near run. Today, the contract is expected to trade at 49,100-49,600 yuan/mt with its LME counterpart trading at $6,200-6,250/mt. Spot premiums is set at 50-120 yuan/mt as supplies are tight. Weak fundamentals grew confidence in short positions, which lowered LME nickel by 0.5% and the SHFE 1901 contract by 1.41% overnight. This was despite a softened US dollar. Limited upward momentum will see LME nickel hovering weakly around $11,000/mt, with the contract trading at 90,500-92,000 yuan/mt today. Spot prices are seen at 91,000-102,500 yuan/mt today. 

ENERGY:-

Oil markets started Thursday timidly, with rising U.S. crude inventories pressuring prices but an expected supply cut by producer cartel OPEC offering some support. U.S. commercial crude oil inventories C-STK-T-EIA rose by 4.9 million barrels to 446.91 million barrels last week, the Energy Information Administration (EIA) said in a weekly report on Wednesday. That was the highest level since December 2017. Crude oil production C-OUT-T-EIA remained at a record 11.7 million barrels per day (bpd), the EIA said. Some analysts have warned that despite high global production, oil markets have little spare capacity to handle unforeseen supply disruptions. However, Innes said that once U.S. pipeline bottlenecks were alleviated, which he said he expected in 2019, "the entire notion of a tight global spare capacity argument goes down the well".


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Monday, 19 November 2018


BULLION:-

Gold prices were steady on Monday, with the dollar subdued following comments from U.S. Federal Reserve officials that were cautious on global economic growth. Spot gold was up about 0.1 percent at $1,222.14 per ounce at the time of writing, while U.S. gold futures were flat at $1,222.8 per ounce. The dollar index, which measures the greenback against a basket of six major currencies, was at 96.48. Asian shares inched cautiously higher amid conflicting signals on the chance of a truce in the Sino-U.S. trade dispute. Fed policymakers on Friday signaled further interest rate increases ahead, even as they raised relatively muted concerns over a potential global slowdown that has markets betting heavily that the rate-hike cycle will soon peter out. President Donald Trump said on Friday that he may not impose more tariffs on Chinese goods after Beijing sent the United States a list of measures it was willing to take to resolve trade tensions, although he added it was unacceptable that some major items were omitted from the list. British Prime Minister Theresa May said on Sunday that toppling her would risk delaying Brexit and she would not let talk of a leadership challenge distract her from a critical week of negotiations with Brussels.  

METALS:-

London copper prices rose on Monday, supported by tight supply and after U.S. President Donald Trump said he may not impose more tariffs on Chinese goods. Trump made the comment after Beijing sent a list of measures it was willing to take to resolve trade tensions, although he added it was unacceptable that some major items were omitted from the list. Three-month copper on the London Metal Exchange had risen 0.4 percent to $6,229 a tonne at the time of writing, while the most-traded copper contract on the Shanghai Futures Exchange was up 0.4 percent at 49,780 yuan ($7,175.91) a tonne. Headline copper inventories in LME-registered warehouses fell by 5,425 tonnes to 161,025 tonnes, nearing last month’s 10-year low of 136,675 tonnes. Trade tensions were clearly on display at an APEC meeting in Papua New Guinea over the weekend, where leaders failed to agree on a communiqué for the first time ever.

ENERGY:-

Oil prices rose around 1 percent on Monday as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply toward year-end. Despite that, market sentiment remains weak on signs of a demand slowdown amid deep trade disputes between the world’s two biggest economies, the United States and China. Front-month Brent crude oil futures were at $67.29 per barrel at the time of writing, up 53 cents, or 0.8 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures, were up 71 cents, or 1.3 percent, at $57.17 per barrel. The Organization of the Petroleum Exporting Countries (OPEC), de-facto led by Saudi Arabia, is pushing for the producer cartel and its allies to cut 1 million to 1.4 million barrels per day (bpd) of supply to adjust for a slowdown in demand growth and prevent oversupply. Despite Monday’s gains, crude prices remain almost a quarter below their recent peaks in early October, weighed down by surging supply and a slowdown in demand growth. This comes in part after Washington granted Iran’s major oil customers, mostly in Asia, unexpectedly broad exemptions to sanctions it reimposed on Tehran in November. U.S. energy firms added two oil rigs in the week to Nov.  


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