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Showing posts with label Gold tips. Show all posts
Showing posts with label Gold tips. Show all posts

Sunday, 9 December 2018


BULLION:-

Gold traded firm near a five-month peak hit early on Monday, supported by a disappointing U.S. jobs data that fuelled speculation that the Federal Reserve may stop raising interest rates sooner than expected. The dollar slipped against the yen and the euro, while stocks extended their slump as worries over U.S.-China trade tensions battered investor sentiment. Nonfarm payrolls increased by 155,000 jobs in November, while economists polled by Reuters had forecast payrolls increasing by 200,000 jobs. The U.S. central bank is flagging a turning point in monetary policy, as a Fed policymaker on Friday backed interest rate hikes in the "near term" but nodded to increasingly less certainty ahead. U.S.-China trade negotiations need to reach a successful end by March 1 or new tariffs will be imposed, U.S. Trade Representative Robert Lighthizer said on Sunday, clarifying there is a "hard deadline" after a week of seeming confusion among President Donald Trump and his advisers

METALS:-

London copper fluctuated to close slightly higher at $6,149/mt on Friday. Despite a positive start, the SHFE 1902 contract weakened on Friday night, with pressure from the daily moving average. It closed at 49,060 yuan/mt. Open interest for the SHFE copper complex remained below 500,000 lots, suggesting limited confidence among investors. LME copper is expected to trade at $6,120-6,170/mt today with the SHFE 1902 contract at 48,900-49,200 yuan/mt. Spot premiums are seen at 150-420 yuan/mt. Tight supplies are likely to keep buyers chasing high-quality materials. London nickel fluctuated to close higher at $10,955/mt on Friday. The SHFE 1905 contract fell to close at 89,350 yuan/mt on Friday night after climbing to a high of 90,140 yuan/mt. LME nickel is expected to hover around $10,900/mt today with the SHFE 1905 contract at 88,500-90,000 yuan/mt. Spot prices are seen at 88,500-98,000 yuan/mt.

ENERGY:-

ONGC has sold a cargo of Russian Sokol crude cargo at a similar premium from the previous month, trade sources said on Monday. The cargo, loading on Feb. 10 to 16, was sold to a European trading house at a premium of $4.80 a barrel above Dubai quotes, they said. The deal marked the first February Sokol cargo to trade this month. The premium surprised the sources as they were expecting Sokol premiums to fall in line with other light sour grades sold to Asia and to reflect weaker refining margins. International oil prices rose on Monday, extending gains from Friday when producer club OPEC and some non-affiliated producers agreed a supply cut of 1.2 million barrels per day (bpd) from January. Prices surged on Friday after the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC producers including heavyweight Russia announced they would cut oil supply by 1.2 million bpd, with an 800,000 bpd reduction planned by OPEC-members and 400,000 bpd by countries not affiliated with the group.



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Monday, 19 November 2018



BULLION:-
Gold prices rose on Friday as investors sought safe haven assets amid fears of a chaotic departure for Britain from the European Union. Spot gold was up 0.2 percent at $1,214.77 per ounce at the time of writing, while U.S. gold futures rose 0.1 percent to $1,215.6 per ounce. The dollar index, which measures the greenback against a basket of six major currencies, inched up about 0.1 percent. Prime Minister Theresa May vowed to fight for her draft divorce deal with the EU on Thursday after the resignation of her Brexit secretary and other ministers put her strategy and her job in peril. A “really strong” U.S. economy is likely to continue growing, but softness in housing and high levels of corporate debt have caught the Federal Reserve’s eye, Chairman Jerome Powell said on Wednesday. U.S. retail sales rebounded sharply in October as purchases of motor vehicles and building materials surged, but data for the prior two months was revised lower and the underlying trend suggested that consumer spending was probably slowing down. China’s written response to U.S. demands for trade reforms is unlikely to trigger a breakthrough at talks between Presidents Donald Trump and Xi Jinping later this month, a senior Trump administration official told Reuters on Thursday. 

METALS:-
Shanghai zinc jumped more than 2.5 percent to the highest in more than two weeks on Thursday amid sliding stockpiles in London and signs that China may be taking steps to de-escalate its trade dispute with the United States. China has delivered a written response to U.S. demands for wide-ranging trade reforms ahead of expected talks between U.S. President Donald Trump and Chinese President Xi Jinping on the sidelines of a G20 summit in Argentina later this month. The most-traded January zinc contract on the Shanghai Futures Exchange rose as much as 3.3 percent to 21,645 yuan a tonne; it’s loftiest since Oct. 30. LME zinc stocks fell to a decade-low of 125,400 tonnes, data showed, while on-warrant or available stocks hit their lowest since February. The global zinc market deficit narrowed to 54,700 tonnes in September from a revised deficit of 81,800 tonnes in August, data from the International Lead and Zinc Study Group showed on Wednesday. Chinese copper smelter Jiangxi Copper and miner Antofagasta have agreed 2019 copper treatment and refining charges (TC/RCs) at $80.80 a tonne and 8.08 cents a pound, three sources familiar with the matter said. Chile’s state copper agency Cochilco lowered its average copper price prediction for this year by $0.03 to $2.97 per pound on Thursday in its second negative projection in six months.

ENERGY:-
Volatile natural gas plummeted 18 percent on Thursday, reversing nearly all of Wednesday’s sharp gains, after U.S. inventories showed a slight increase in supply. Selling was already underway even before the report from the Energy Information Administration showed natural gas supplies rose by 39 billion cubic feet. Total gas in storage now stands at 3.247 trillion cubic feet, but is still 15 percent below the 5-year average and 14 percent below last year. Gas supply is at a 15-year low for this time of year; at the same time, cold weather has driven strong early heating demand. Natural gas prices surged more than 18 percent Wednesday, as panicky buyers reacted to new weather reports showing a colder forecast amid concerns the U.S. has too little gas in storage. Futures were trading at about $3.98 per mmbtu on Thursday, after reaching $4.83 the day earlier. Wednesday’s move higher set the stage for the big decline, as analysts said much of the buying appeared to be traders who were caught on the wrong side of the trade and forced to react to a short squeeze. Natural gas is still 30 percent higher in November, and more cold forecasts could send it higher again. 


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Monday, 12 November 2018



BULLION:-

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

METALS:-

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

ENERGY:-


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


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Wednesday, 31 October 2018


BULLION:-

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

METALS:-

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

ENERGY:-

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


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Monday, 22 October 2018


BULLION:-

Gold prices edged higher early Monday, moving closer to a 2-1/2-month peak hit last week, as Asian shares fell amid rising political tensions and worries over slowing global economic growth. Spot gold was up 0.1 percent at $1,227.56 an ounce at the time of writing. On Oct. 15, the bullion touched its highest since July 26 at $1,233.26. Asian share markets fell anew on Monday as investors braced for the peak of the U.S. earnings season while angst over Saudi Arabia, Italy and Brexit kept geopolitics front at the center. Saudi Arabia on Sunday called the killing of journalist Jamal Khashoggi at its Istanbul consulate a "huge and grave mistake," but sought to shield its powerful crown prince from the widening crisis, saying Mohammed bin Salman had not been aware. President Donald Trump said Washington would withdraw from a landmark Cold War-era treaty that eliminated nuclear missiles from Europe because Russia was violating the pact, triggering a warning of retaliatory measures from Moscow.  

METALS:-

London copper prices rose for the second session in early Asian trade on Monday, extending a rally fuelled by a pledge from China's central bank that it would support firms with liquidity problems. Three-month copper on the London Metal Exchange edged up 0.3 percent to $6,236.50 a tonne at the time of writing, extending a 1 percent jump from the previous session. The most-traded December copper contract on the Shanghai Futures Exchange climbed by 0.8 percent to 50,390 yuan ($7,270) a tonne. Nickel was the biggest gainer, tracking gains in China's ferrous complex to rise 1.7 percent in London and 1.9 percent in Shanghai. Zinc slipped by as much as 1.8 percent in Shanghai after the ShFE on Friday reported a 23.3 percent jump in zinc inventories. The bulk of nickel moving out of London Metal Exchange-approved warehouses in Asia is showing up in hidden facilities in Europe, denting a bullish scenario of potential shortages. A Shenzhen-based commodity exchange controlled by Hong Kong Exchanges and Clearing unexpectedly began spot trading on Friday, giving the HKEX much-coveted access to mainland China's market.

ENERGY:


Oil prices edged up on Monday, as markets were expected to tighten once U.S. sanctions against Iran's crude exports are implemented next month. Front-month Brent crude oil futures were trading at $79.88 a barrel at the time of writing, 10 cents above their last close. U.S. West Texas Intermediate crude futures were at $69.31 a barrel, 19 cents above their last settlement. Also in the United States, Intercontinental Exchange (ICE.N) said its new Permian West Texas Intermediate crude futures contract deliverable in Houston, Texas, will begin trading on Monday. The main price driver in Asia on Monday was the looming start of U.S. sanctions against Iran's oil exports, which will start on November 4. While the Organization of the Petroleum Exporting Countries (OPEC) agreed in June to boost supply to make up for expected Iran disruptions, an internal document reviewed by Reuters suggested that OPEC is struggling to add barrels to the market as an increase in Saudi Arabian supply was offset by declines in Iran, Venezuela, and Angola. 

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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.  


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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. 


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Monday, 17 September 2018



BULLION:-

Gold prices have declined over 12 per cent from April amid intensifying global trade tensions and under pressure from rising US interest rates. Hedge funds and speculators have swung sharply toward pricing in higher rates and yields at the short end of the curve, a sign that they are backing down and now think the Fed will stick to the pace and path of rate hikes it has long flagged. Bond traders are increasing bets the Federal Reserve will raise US short-term interest rates into 2019 as the jobs market tightens and with inflation seen climbing above its 2 per cent goal. Three South African unions have signed a three-year wage deal with AngloGold Ashanti, potentially inching the country's gold industry closer to ending a standoff over pay. 

METALS:-

LME copper opened at a low of $5,858/mt today as shorts surged on news that the US is on the cusp of implementing tariffs of 10% on $200 billion worth of Chinese goods. Spot premiums are expected to stay at highs on expectations of rising demand before the upcoming week-long National Day holiday. Premiums are set at 190-250 yuan/mt today. LME nickel faced resistance at the five- and 10- day moving averages overnight, and settled 1.13% lower, even though pressure from the US dollar eased. The SHFE 1811 contract also fell as spot products increased faster than demand amid opened import window. We expect LME nickel to hover around $12,300/mt today with the contract trading at 101,000-102,500 yuan/mt. Spot prices are set at 102,000-108,500 yuan/mt. 

ENERGY:-

  Oil markets fell on Tuesday as the latest escalation in the Sino-U.S. trade war clouded the outlook for crude demand from the two countries, which are the world's top two oil consumers. U.S. West Texas Intermediate (WTI) crude CLc1 was down 28 cents, or 0.4 percent, to $68.62 per barrel. U.S. President Donald Trump on Monday said he would impose 10 percent tariffs on about $200 billion worth of Chinese imports. growing trade dispute has hurt trading sentiment. The impact on economic growth is slowly dripping in, which again hurts oil prices," Wang Xiao, head of crude research at Guotai Junan Futures, said on Tuesday. Refineries in the United States consumed about 17.7 million barrels per day (bpd) of crude oil last week while China's refiners used about 11.8 million bpd in August, according to government data from the countries, the most among the world's countries.



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.

Sunday, 16 September 2018



BULLION:-

Gold prices were little changed in the morning session, after falling 0.6 percent in the previous session, as investors remained cautious on reports that the United States is set impose a new round of tariffs on Chinese imports. U.S. President Donald Trump is likely to announce new tariffs on about $200 billion on Chinese imports as early as Monday, a senior administration official told Reuters. The tariff level will probably be about 10 percent, the Wall Street Journal reported, below the 25 percent the administration had said it was considering. The WSJ also reported Beijing may decline to participate in proposed trade talks with the United States later this month if the Trump administration moves forward with the tariffs. The dollar index was firm at 94.951, having bounced from over six-week lows of 94.359 hit last week. Gold prices have declined about 12.6 percent from April amid intensifying global trade tensions and under pressure from rising U.S. interest rates. The months-long trade rift between Washington and Beijing has prompted investors to buy the U.S. dollar in the belief that the United States has less to lose from the dispute.  

METALS:-

Base metals prices fell sharply in the morning session on reports that U.S. tariffs on $200 billion of Chinese goods could be imposed immediately. The tit-for tat trade row between the world's top two economies has left investors fearing that demand for industrial metals will soften. Three-month copper on the London Metal Exchange fell as much as 1.9 percent to $5,861.50 a tonne and stood at $5,890 a tonne at the time of writing, after shedding 1.4 percent on Friday. The most-traded November copper contract on the Shanghai Futures Exchange slipped 1.4 percent to 47,940 yuan ($6,977.86) a tonne. U.S. President Donald Trump is likely to announce new tariffs on about $200 billion on Chinese imports as early as Monday, a senior administration official told Reuters on Saturday. LME nickel fell furthest, tumbling as much as 3.2 percent overnight to $12,250 a tonne, its lowest since Sept. 12, before trimming losses to around 2 percent.  

ENERGY:-

Global oil prices eased in early Asian trading on Monday on concerns that the United States is poised to impose additional tariffs on China, outweighing supply fears from upcoming sanctions on Iran. Brent crude oil futures dipped 16 cents, or 0.2 percent to $77.93 a barrel at the time of writing. U.S. West Texas Intermediate (WTI) futures fell 20 cents or 0.3 percent, to $68.79 a barrel. U.S. President Donald Trump is likely to announce new tariffs on about $200 billion on Chinese imports as early as Monday, a senior administration official told Reuters on Saturday. The escalating trade row is raising concerns about the potential for slower growth in oil consumption, offsetting supply concerns stemming from upcoming U.S. sanctions on Iran over its nuclear program. Refiners in India, Iran’s second largest crude buyer will cut their monthly crude loadings from Iran for September and October by nearly half from earlier this year. Also weighing on oil prices, U.S. drillers added two oil rigs in the week to Dec. 1, bringing the total count up to 749, the highest since September, General Electric Co’s Baker Hughes energy services firm said in its closely followed report 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.

Tuesday, 11 September 2018


BULLION:-

Gold at COMEX continued to trade below $1200/Oz with a downward pressure as the likelihood that the Federal Reserve will announce and implement an interest rate hike on September 27 at the end of this month’s FOMC meeting, traders and investors are beginning to focus on what comes after that. Currently, the CME’s FedWatch tool predicts a 99% probability of a rate hike this month, followed by a 60% probability that the Fed will implement another rate hike in December. This action could continue to weigh heavily on gold prices as higher interest rates will certainly be supportive of the U.S. dollar. Last week’s jobs report is certainly supportive of a rate increase this month. Concerns continue to grow as the United States and China continue to be deeply immersed in a trade dispute that seems more and more like it will become a full-blown trade war.  

METALS:-

Base metals were trading mixed on Tuesday morning as an intensifying trade dispute between the United States and China raised concerns over demand for industrial metals. China will respond if the United States takes any new steps on trade, the foreign ministry said on Monday, after U.S. President Donald Trump warned he was ready to slap tariffs on virtually all Chinese imports into the United States. Trump said on Friday he was ready to levy additional taxes on practically all Chinese imports, threatening duties on $267 billion of goods over and above planned tariffs on $200 billion of Chinese products. Wood Mackenzie estimates the expansion of the tariff list could raise the impact to around 1 percent of total Chinese copper demand, as many copper intensive goods are included in the extended list. 
ENERGY:-

Oil was steady on Tuesday, supported by looming U.S. sanctions against Iran's petroleum industry. But prices were capped by signs that increased supplies by other major producers, including the United States and Saudi Arabia, could make up for the disruptions from Iran. Washington is putting pressure on other countries to also cut Iran imports, with close allies like South Korea and Japan, but also India, showing signs of falling in line. US Energy Secretary Rick Perry met with Saudi Energy Minister Khalid al-Falih on Monday in Washington, the US Energy Department said, as the Trump administration encourages big oil-producing countries to keep output high ahead of the renewed sanctions. Perry will also meet with Russian Energy Minister Alexander Novak on Thursday in Moscow. Russia, US and Saudi Arabia are the world's three biggest oil producers by far, meeting around a third of the world's almost 100 million barrels per day (bpd) of daily crude consumption. Combined output by these three producers has risen by 3.8 million bpd since Sept.  



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

Monday, 10 September 2018

BULLION:-

Gold at COMEX continued to trade below $1200/Oz with a downward pressure as the likelihood that the Federal Reserve will announce and implement an interest rate hike on September 27 at the end of this month’s FOMC meeting, traders and investors are beginning to focus on what comes after that. Currently, the CME’s FedWatch tool predicts a 99% probability of a rate hike this month, followed by a 60% probability that the Fed will implement another rate hike in December. This action could continue to weigh heavily on gold prices as higher interest rates will certainly be supportive of the U.S. dollar. Last week’s jobs report is certainly supportive of a rate increase this month. Concerns continue to grow as the United States and China continue to be deeply immersed in a trade dispute that seems more and more like it will become a full-blown trade war. As long as there is a real possibility that the trade dispute will become a trade war, we could see the U.S. dollar strength continue and the Chinese yuan weaken. On the other hand, MCX gold which supposed to trade in-line with the COMEX gold, discounting the USDINR movement.

METALS:-

Base metals were trading mixed on Tuesday morning as an intensifying trade dispute between the United States and China raised concerns over demand for industrial metals. China will respond if the United States takes any new steps on trade, the foreign ministry said on Monday, after U.S. President Donald Trump warned he was ready to slap tariffs on virtually all Chinese imports into the United States. Trump said on Friday he was ready to levy additional taxes on practically all Chinese imports, threatening duties on $267 billion of goods over and above planned tariffs on $200 billion of Chinese products. Wood Mackenzie estimates the expansion of the tariff list could raise the impact to around 1 percent of total Chinese copper demand, as many copper intensive goods are included in the extended list. 

ENERGY:-

Oil was steady on Tuesday, supported by looming U.S. sanctions against Iran's petroleum industry. But prices were capped by signs that increased supplies by other major producers, including the United States and Saudi Arabia, could make up for the disruptions from Iran. Washington is putting pressure on other countries to also cut Iran imports, with close allies like South Korea and Japan, but also India, showing signs of falling in line. US Energy Secretary Rick Perry met with Saudi Energy Minister Khalid al-Falih on Monday in Washington, the US Energy Department said, as the Trump administration encourages big oil-producing countries to keep output high ahead of the renewed sanctions. Perry will also meet with Russian Energy Minister Alexander Novak on Thursday in Moscow. Russia, US and Saudi Arabia are the world's three biggest oil producers by far, meeting around a third of the world's almost 100 million barrels per day (bpd) of daily crude consumption. Combined output by these three producers has risen by 3.8 million bpd since Sept. 2014, more than the peak 3 million bpd Iran has managed during the last three years. 


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.