+91731-6690000
Showing posts with label Free Commodity. Show all posts
Showing posts with label Free Commodity. Show all posts

Tuesday, 16 October 2018


BULLION:-

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

METALS:-

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


ENERGY:-

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




CapitalStars Provides  Free Trial To Our Client…
Investment & trading in the securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Wednesday, 10 October 2018


BULLION:-

Gold prices edged higher in the morning session as some investors sought refuge in the precious metal after the global stocks tumbled and the U.S. dollar weakened. Spot gold rose 0.4 percent to $1,194.12 per ounce at the time of writing. U.S. gold futures settled up $1.9, or 0.16 percent, at $1,193.4. Stocks on major world markets fell to a three-month low, with the benchmark S&P500 stock index falling more than 3 percent, in its biggest one-day fall since February. The U.S. dollar index retreated from a seven-week peak hit in the previous session. Gold, however, has fallen over 13 percent since hitting a peak in April, with investors increasingly opting for the safety of the greenback as the U.S.-China trade war unfolded against a backdrop of rising U.S. interest rates. Rising bond yields have also dampened the appeal of gold, which pays no interest. Higher U.S. Treasury yields can translate into more demand for the dollar, making bullion more expensive for holders of other currencies. U.S. Treasury yields held near multi-year highs after government data showed the U.S. producer price index (PPI) climbed in September, which reinforced expectations that the Federal Reserve would continue raising interest rates.  

METALS:-

Zinc fell in the previous session on trade and inflation worries, although it had earlier risen back towards a 3-month high reached last week on shrinking inventories and smelter cuts in China. Zinc inventories in LME-registered warehouses fell to 194,575 tonnes from more than 250,000 tonnes in August and are nearing 10-year lows. Stockpiles in Shanghai Futures Exchange storehouses at 29,204 tonnes are the smallest since 2007. Also weighing on zinc were lingering worries that trade tensions will sap growth. The worries, coupled with rising U.S. bond yields, pushed world shares down to a three month low. Demand for refined zinc will exceed supply by 322,000 tonnes this year, but the gap will narrow to 72,000 tonnes in 2019, industry data showed on Monday. The premium of cash zinc over the three-month contract rose to $41.50, reversing recent falls and signaling a lack of nearby supply.  

ENERGY:-

Oil dropped on Thursday to extend big losses from the previous session as global stock markets suffered a rout, with crude prices also taking a hit from a weekly industry report showing U.S. crude inventories had risen more than expected. Supply worries also eased as Hurricane Michael likely spared oil assets from significant damage as it smashed into Florida, even as it caused injuries and widespread destruction. U.S. West Texas Intermediate (WTI) crude futures were down 57 cents, or 0.8 percent, at $72.60 after dropping 2.4 percent in the previous session. U.S. crude stockpiles rose more than expected last week, while gasoline inventories increased and distillate stocks drew, industry group the American Petroleum Institute said on Wednesday. Crude inventories climbed by 9.7 million barrels in the week to Oct. 5 to 410.7 million, compared with analyst expectations for an increase of 2.6 million barrels. Crude stocks at the Cushing, Oklahoma delivery hub rose by 2.2 million barrels, API said. The U.S. Energy Information Administration (EIA) is due to release official government inventory data today at 08.30 PM IST. In the U.S. Gulf of Mexico, producers have cut daily oil production by roughly 42 percent due to the storm, the Bureau of Safety and Environmental Enforcement said.  


CapitalStars Provides  Free Trial To Our Client…
Investment & trading in the securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Tuesday, 9 October 2018


BULLION:-
Gold The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 per cent. Stocks on major world markets edged lower on Tuesday, with a decline in the materials sector offsetting rising energy shares. US long-dated Treasury yields fell on Tuesday in choppy trading, as investors took a respite from selling bonds that took rates to multi-year highs following recent economic data and on interest rate prospects over the next year and a half. Risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further, the IMF said on Wednesday

METALS:-
The SHFE 1811 contract also performed strongly overnight. It jumped past 107,000 yuan/mt to the highest since September and ended at 106,950 yuan/mt. The metal was voted as the most promising base metal for 2019 at this year's LME week in London, which might account for the recent increases in prices of futures. We expect LME nickel to hover at $12,800/mt today with the SHFE 1811 contract trading at 105,500-107,500 yuan/mt. Spot prices are seen at 105,000-112,000 yuan/mt. London copper rebounded above the daily moving average to a high of $6,303.5/mt and settled at $6,295/mt on Tuesday after the dollar dipped when US bond yields fell. On the technical front, LME copper managed to stand firmly above the five- and 10-day moving averages and approached the upper Bollinger band. Its MACD red line extended, reflecting the strength of longs. The SHFE 1811 contract soared to a high of 51,140 yuan/mt after it hovered at the daily moving average overnight.

ENERGY:-
Oil prices edged lower on Wednesday after the IMF lowered its global growth forecasts but prices were supported as Hurricane Michael churned towards Florida, causing the shutdown of nearly 40 percent of U.S. Gulf of Mexico crude output. Trade tensions and rising import tariffs were taking a toll on commerce, while emerging markets struggle with tighter financial conditions and capital outflows, the IMF said are peaking at the most opportunistic time given waning global growth narrative," said Stephen Innes, head of trading APAC at OANDA in Singapore. In the United States, nearly 40 percent of daily crude oil production was lost from offshore U.S. Gulf of Mexico wells on Tuesday because of platform evacuations and shut-ins ahead of Hurricane Michael



CapitalStars Provides  Free Trial To Our Client…
Investment & trading in the securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Monday, 8 October 2018


BULLION:-

Gold fell to its lowest level in a week on Monday as investors sought safety in the U.S. dollar on concerns about a selloff in global stocks worsened by worries over economic growth in China. "The strong U.S. dollar and expectations of more interest rate hikes are pushing gold down and scaring gold investors. Even the Italian risk and a weakness in equities is not pushing investors to buy gold," said Carlo Alberto De Casa, chief analyst at Active Trades. Despite the losses, gold has held in a $34 range for the last 1-1/2 months, which some analysts say suggests resilience, worries over the damage to emerging market economies from higher U.S. interest rates has spurred safe-haven bidding.

METALS:-

London copper rebounded to a high of $6,224.5/mt from a low of $6,126/mt on Monday. This helped it stand firmly above the 20-day moving average. The SHFE 1811 contract reversed some gains overnight after hitting a high of 50,320 yuan/mt, which was near the five-day moving average. China’s actions, including a steep cut in the amount of cash that banks must hold as reserves, quickening special bond issuance for shanty-town redevelopment, an increase in export tax rebates from November 1, supported copper prices in the domestic market. Stocks at home and abroad continued their declines. We expect LME copper to trade at $6,170-6,230/mt with the SHFE 1811 contract at 50,000-50,500 yuan/mt. Spot premiums are seen at 40-80 yuan/mt.

ENERGY:-

Oil prices rose on Tuesday as more evidence emerged that crude exports from Iran, OPEC's third-largest producer, are declining in the run-up to the re-imposition of U.S. sanctions and as a hurricane moved across the Gulf of Mexico. Iran's crude exports fell further in the first week of October, according to tanker data and an industry source, as buyers are seeking alternatives ahead of the start of the U.S. sanctions on Nov. 4 and creating a challenge to other OPEC oil producers as they seek to cover the shortfall. The Islamic Republic exported 1.1 million barrels per day (bpd) of crude in that seven-day period, Definitive Eikon data showed. An industry source who also tracks exports said October shipments were so far below 1 million bpd.


CapitalStars Provides  Free Trial To Our Client…
Investment & trading in the securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Sunday, 7 October 2018


BULLION:-

Gold edged higher on Friday, on track for its biggest weekly gain in six, as the dollar softened after data showed U.S. job growth slowed more than expected last month and a slide in stock markets burnished the appeal of bullion as a safe haven. "The weaker-than-expected jobs data is supporting the overall current mood but the numbers were not disappointing enough to trigger fresh buying," said Heraeus precious metals trader Alexander Zumpfe. However, the Labor Department's monthly employment report also showed a steady rise in wages, suggesting moderate inflation pressures, which could allow the Federal Reserve to maintain a path of gradual interest rate increases. A weaker dollar makes bullion less expensive for buyers using other currencies. But rising interest rates increase the opportunity cost of holding bullion

METALS:-

Last week, LME fell after it gained 3% on Wednesday with resistance at the 40-day moving average and support at $12,000/mt. Stocks across LME inventories continued to decline but on a smaller scale. We expect LME nickel to hover around $12,600/mt today with the SHFE 1811 contract trading at 103,500-105,000 yuan/mt. Spot prices are seen at 103,500-110,000 yuan/mt. London copper lost 0.67% to end at $6,186.5/mt on Friday. SHFE copper faces pressure from a strong US dollar and firm US economy. The recent US-Mexico-Canada Agreement will also put China’s exports under pressure. China’s central bank, however, provided some support. The reserve requirement ratios (RRRs) cut of 100 basis points announced on Sunday is set to bolster the stock market and grow anticipation of investment growth in infrastructure construction in the fourth quarter of the year. We expect LME copper to trade at $6,140-6,210/mt today with the SHFE 1811 contract at 49,000-50,100 yuan/mt. Spot premiums are seen at 20-70 yuan/mt as traders might clean up their stocks and downstream consumers would restock after the week-long break.

ENERGY:-


Oil has rallied to trade near four-year highs on concerns that the looming U.S. restrictions on the Islamic republic will squeeze shipments and spur a global crunch at a time when supplies are already being disrupted in Venezuela and Libya. Investors remain concerned the Organization of Petroleum Exporting Countries and its allies aren’t raising output quickly enough and that they may not have the capacity to fully cover disappearing volumes. Brent for December settlement fell as much as 96 cents to $83.20 a barrel on the London-based ICE Futures Europe exchange and was at $83.30 at 10:28 a.m. in Singapore. The contract slipped 0.5 percent to $84.16 on Friday. The global benchmark crude traded at a $9.66 premium to U.S. West Texas Intermediate for the same month.

 


CapitalStars Provides  Free Trial To Our Client…
Investment & trading in the securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Thursday, 4 October 2018


BULLION:-

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

METALS:-

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

ENERGY:-


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


CapitalStars Provides  Free Trial To Our Client…
Investment & trading in the securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Wednesday, 3 October 2018


BULLION:-

Gold eased on Wednesday after the Italian government indicated it was open to trimming its budget deficit and debt, soothing investors' nerves and prompting a wider move back into stocks and other higher-risk assets. Bullion was also pressured by a stronger dollar as economic data supported the view that the U.S. economy is strong. "With U.S. equities hitting record highs here, the stickiness in equity prices will continue and the dollar strength will continue to materialize with what the U.S. Federal Reserve is doing," said David Song, a currency analyst at DailyFX. A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies, while rising interest rates increase the opportunity cost of holding non-yielding bullion.

METALS:-

Declining shorts pulled up the SHFE 1811 contract above the 20- and 10- day moving averages, to a high of 104,580 yuan/mt. The contract settled at 104,550 yuan/mt with capitals of some 213 million yuan flowing out of all SHFE nickel contracts. Open interests of the 1811 contract lost 20,000 lots to 184,000 lots. Data to watch tonight include the US August personal consumption expenditures (PCE) inflation, personal income and spending and September consumer confidence. The SHFE 1811 contract once fell below the 50,000 yuan/mt level with pressure at the five-day moving average. As shorts exited near closing, the contract inched up to an intraday high of 50,240 yuan/mt and settled at 50,170 yuan/mt. The October contract traded some 230 yuan/mt higher than the November one today. The SHFE will be closed tonight and reopen on Monday October 8 after the week-long National Day holiday. 

ENERGY:-

Oil prices on Thursday fell from four-year highs reached the previous session, pressured by rising U.S. inventories and after sources said Russia and Saudi Arabia struck a private deal in September to raise crude output. "Data for last week showed a much more significant than expected ... build in U.S. commercial crude (inventories), which generally suggests that oil prices should tumble," said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore. U.S. weekly Midwest refinery utilization rates dropped to 78.9 percent, their lowest since October 2015, according to the data. U.S. crude oil production C-OUT-T-EIA remained at a record-high of 11.1 million barrels per day (bpd). Russia and Saudi Arabia struck a private deal in September to raise oil output to cool rising prices, Reuters reported on Wednesday, before consulting with other producers, including the rest of the Organization of the Petroleum Exporting Countries (OPEC). and Saudi Arabia's actions come as markets have heated up ahead of U.S. sanctions against Iran's oil sector, which are set to kick in from Nov. 4, and which many analysts expect to knock around 1.5 million bpd of supply out of markets.




CapitalStars Provides  Free Trial To Our Client…
Investment & trading in the securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

BULLION:-

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

METALS:-

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

ENERGY:-


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


CapitalStars Provides  Free Trial To Our Client…
Investment & trading in the securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Sunday, 30 September 2018


BULLION:-
 Gold prices dipped in the morning session, with the dollar holding steady after marking a near three-week high in the previous session in the wake of the U.S. Federal Reserve’s plans last week for multiple interest rate hikes by 2020. Spot gold was down 0.2 percent at $1,189.22 at the time of writing. The metal fell 0.8 percent in September, marking its sixth straight monthly decline and longest monthly losing streak since January 1997. On Friday, gold touched its lowest since Aug. 17 at $1,180.34 an ounce. U.S. gold futures were down 0.3 percent at $1,193.0 an ounce. The dollar index was steady against a basket of major currencies, having touched its highest since Sept. 10 in the previous session. The Fed raised interest rates last week and said it planned four more increases by the end of 2019 and another in 2020. U.S. consumer spending increased steadily in August, supporting expectations of solid economic growth in the third quarter, while a measure of underlying inflation remained at the Fed’s 2 percent target for a fourth straight month. China will cut import tariffs on textile products and metals, including steel products, to 8.4 percent from 11.5 percent, effective Nov. 1, the finance ministry said on Sunday.  

METALS:-
 London metal prices eased on Monday amid evidence that the Sino-U.S. trade dispute impacted China’s manufacturing activity last month and as a week-long holiday got underway in the country. Growth in China’s manufacturing sector sputtered in September as both external and domestic demand weakened, two surveys showed on Sunday, raising the pressure on policymakers as U.S. tariffs appear to be inflicting a heavier toll on the Chinese economy. A private survey showed growth in the factory sector stalled after 15 months of expansion, with export orders falling the fastest in over two years, while an official survey confirmed a further manufacturing weakening. London Metal Exchange copper had eased 0.3 percent to $6,242 a tonne by 0219 GMT, following a gain of 1.2 percent on Friday. Copper prices climbed 4.7 percent in September, the largest monthly gain in a year when prices have dropped a total of nearly 14 percent.  

ENERGY:-
Brent crude oil prices rose to their highest since November 2014 on Monday ahead of U.S. sanctions against Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), that kick in next month. U.S. West Texas Intermediate (WTI) crude futures were up 32 cents, or 0.4 percent, at $73.57 a barrel. WTI prices were supported by a report on Friday of a stagnant rig count in the United States, which points to a slowdown in U.S. crude production, which now rivals top producers Russia and Saudi Arabia. Brent was pushed up by looming sanctions against Iran, which will start targeting its oil sector from Nov. 4. In a sign that the financial market is positioning itself for further price rises, hedge funds increased their bullish wagers on U.S. crude in the week to Sept. 25, data from the U.S. Commodity Futures Trading Commission (CFTC) showed on Friday, increasing futures and options positions in New York and London by 3,728 contracts to 346,566 during the period.  



CapitalStars Provides  Free Trial To Our Client…
Investment & trading in the securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Saturday, 29 September 2018

BULLION:-

Gold hit a fresh six-week low on Friday as the dollar firmed after upbeat U.S. economic data supported the Federal Reserve's resolve for steady interest rate hikes, putting the metal on track for its longest monthly losing streak since January 1997. The dollar gained against its peers on Friday as data showed U.S. economic growth accelerated in the second quarter at its fastest pace in nearly four years. Another report showed durable goods rose 4.5 percent in August, rebounding from a revised 1.2 percent drop the month before. USD/ short-term outlook is bearish for gold as the dollar may see some upside due to an ongoing trade war between China and the U.S. and the Federal Reserve interest rate hike outlook, according to Argonaut Securities analyst Helen Lau. The Fed raised interest rates on Wednesday and said it planned four more increases by the end of 2019 and another in 2020.  


ENERGY:-

Oil prices steadied on Friday as U.S. sanctions on Tehran squeezed Iranian crude exports, tightening supply even as other key exporters increased production. "The fall in Iranian production is set to intensify once the second round of U.S. sanctions come into effect in November," said Abhishek Kumar, senior analyst at Interfax Europe Ltd. A new round of U.S. sanctions on Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries, kick in on Nov. 4. Washington is demanding that buyers of Iranian oil cut imports to zero to force Tehran to negotiate a new nuclear agreement and to curb its influence in the Middle East. Saudi Arabia is expected to add extra oil to the market over the next couple of months to offset the drop in Iranian production. sources familiar with OPEC policy told Reuters Saudi Arabia and other producers had discussed a possible production increase of about 500,000 barrels per day (bpd) among OPEC and non-OPEC producers. 


CapitalStars Provides  Free Trial To Our Client…
Investment & trading in the securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647


Thursday, 27 September 2018


BULLION:-

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

METALS:-

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

ENERGY:-


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



CapitalStars Provides  Free Trial To Our Client…
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