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Showing posts with label best equity tips. Show all posts
Showing posts with label best equity tips. Show all posts

Sunday, 15 July 2018

Commodities-Market-1

Gold prices slipped as the dollar gains amid a strong U.S. inflation report and continued trade war concerns were cited as tailwind for the greenback.

Gold on MCX settled down -0.14% at 30105 as the dollar rose due to easing trade tensions and weak demand for the precious metal due to expectations of higher interest rates in the United States. Tensions between the United States and China eased after U.S. Treasury Secretary Steven Mnuchin said on Thursday talks between the world’s two largest economies could be reopened if Beijing is willing to make significant changes. The Federal Reserve last month raised its benchmark overnight lending rate 25 basis points to 1.75-2.0 percent. Expectations are for another two rate rises this year and three in 2019. Investors retreating from gold can be seen in the largest gold- backed exchange-traded-fund (ETF), New York’s SPDR Gold Trust GLD, which has seen its holdings fall more than 8 percent since late April to below 26 million ounces.

Secondary lead smelters operate at higher levels in Jun on high profits.

High profit margins kept secondary lead smelters in China operating at high levels in June, SMM research found. The operating rate at secondary lead smelters came in at 48.3% in June, up 6.62 percentage points from May, 2.34 percentage points higher from the same period last year, SMM data showed. Smelters produced 137,200 mt of secondary lead in June, up 18,800 mt from May. June saw healthy profit margins on high prices of lead and low prices of battery scrap. We expect output and operating rates to continue to increase in July as small or illegal smelters are likely to ramp up production after the central government’s environmental probes end. Production at some smelters with production permits is also likely to recover after limitations from the environmental probes ease.

Aluminium inventory rebounds after 10 weeks of decline.

China’s inventory of primary aluminium across eight major markets, including SHFE warrants, inched up 17,000 mt over the weekend to stand at 1.82 million mt as of Monday July 16, SMM data showed. This marked a rebound after 10 consecutive weeks of decline, as more deliveries arrived during the weekend.

Oil Prices Edge Lower; Trump-Putin Summit In Focus.

Oil prices edged lower on Monday as traders awaited the outcome of the first offcial dialogue between U.S. President Donald Trump and Russian President Vladimir Putin summit in Helsinki later in the day.”A summit between U.S. President Trump and Russian President Putin is being watched in case they say something about oil,” said Kim Kwang-rae, commodity analyst at Samsung (KS:005930) Futures in Seoul. Trump has been vocal about his dissatisfaction with higher oil prices and has urged OPEC to lower prices earlier this month. Reports that the U.S. is considering to rein in prices by tapping into its emergency crude supplies were also cited as headwind for oil prices. The continued trade concerns between the U.S. and China remained in focus, as traders fear the development could threaten global demand.

Precious Metals

CS GOLD (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 30400
RESIST 1: 30300
SUP 1: 30000
SUP 2: 29900
CS SILVER (SEP) OVERVIEW:
TREND : BEARISH
RESIST 2: 39700
RESIST 1: 39500
SUP 1: 38800
SUP 2: 38600

Base Metals

CS COPPER (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 430.00
RESIST 1: 428.00
SUP 1: 418.00
SUP 2: 416.00
CS NICKEL (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 965.00
RESIST 1: 960.00
SUP 1: 930.00
SUP 2: 925.00
CS ZINC (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 183.00
RESIST 1: 181.00
SUP 1: 173.00
SUP 2: 171.00
CS LEAD (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 155.00
RESIST 1: 153.00
SUP 1: 148.00
SUP 2: 146.00
CS ALUMINIUM (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 142.00
RESIST 1: 141.00
SUP 1: 138.00
SUP 2: 137.00

Energies

CS CRUDE OIL (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 4950
RESIST 1: 4910
SUP 1: 4770
SUP 2: 4730
CS NATURAL GAS (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 195.00
RESIST 1: 193.00
SUP 1: 188.00
SUP 2: 186.00
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Thursday, 12 July 2018

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Metal Prices in Rebound Mode; Gold Prices Edge Higher -   Gold prices steadied Thursday, as the dollar gave up some of its gains, while easing trade-war concerns prompted traders to cut bearish bets on other metals. Gold prices moved off seven-month lows as the dollar struggled to hold gains, hovering just above the flatline, after data showed timid growth in consumer prices last month.et safe-haven gold struggled to make a meaningful advance as risk-appetite turned positive on the prospect of renewed U.S.-China trade talks. Bloomberg reported that U.S. and Chinese officials considered restarting the trade conversations, which could lead to a bilateral agreement. Improved sentiment on the trade-war front comes just days after the White House issued a list late Tuesday of 10% tariffs on $200 billion worth of Chinese imports it will assess.

Zinc recovered some of its losses on short covering after prices dropped on a gaining US dollar and fears of a trade war - Zinc on MCX settled down -0.14% at 176.85 despite LME zinc wazs inched up 0.45% to close at $2,575.5/mt overnight as trade war concerns eased, it continued to lack upward momentum to stand above $2,600/mt level. Investors would take guidance from China and US’ import and export data during the day. LME Zinc dropped by its 6 percent downside limit in Shanghai to 20,620 yuan per tonne, the lowest since June last year. Last night the US dollar index continued to gain on steadily-rising US inflation data and trade war saga. It closed at 94.8, with a slower growth rate from Wednesday.

Secondary aluminium operating rate extends decline in Jun - Operating rate across Chinese secondary aluminium producers dropped in June due to a seasonal lull, environmental probes, stricter limits on impurities in scrap imports and sweeping tariffs on US aluminium scrap imports. June’s rate came in at 52.74%, down 5.91 percentage points month on month and 6.17 percentage points year on year. Production at most producers shrank and finished products inventory edged down. Most producers had relatively high finished products inventory as demand throughout the first six months of this year was much weaker than the same period last year. Producers, therefore, preferred to cut production and destock amid a seasonal lull in order to better manage their cashflows.

Oil Prices Slip Amid Continued Concerns of Trade War, Return of Libyan Oil - Oil prices slipped on Friday as concerns about a China-U.S. trade war and the return of Libyan oil to the market continued to be cited as catalysts for the selling. The Libya's National Oil Corp announced on Wednesday that four export terminals were being reopened and allowed the return of as much as 850,000 barrels per day of oil into the markets, ending a standoff that had shut down most of Libya's oil output.The International Energy Agency, however, raised expectations for a global shortage in crude supplies as the energy watchdog warned of a potential capacity crunch amid a rise in output from Middle East Gulf countries and Russia, helping oil prices to recoup some losses.


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Commodities-Market-1

Trade-War Jitters Rock Metals Prices; Gold Stumbles as Dollar Rallies.

Gold prices tumbled Wednesday, as the dollar added to gains, while the Trump administration’s threat of further tariffs on Chinese goods roiled other metals as copper sank to a nearly one-year low. The White House issued a list late Tuesday of 10% tariffs on $200 billion worth of Chinese imports it will assess. The threat of further U.S. tariffs on Chinese goods failed to garner investor demand for safe-haven gold, as dollar strength continued to keep a lid on the yellow metal. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.61% to 94.41 amid positive wholesale inflation data Tuesday. As well as hot U.S. wholesale inflation data Tuesday, the U.S. Senate’s approval of a motion to give Congress a role in reviewing President Donald Trump’s decision to impose tariffs on national security grounds, also boosted the greenback.

Suspension extends at secondary lead smelters in Jiangxi.

Secondary lead smelters in Jiangxi province are only likely to resume operations at the end of July at the earliest, after local government kicked off a new round of inspections last Friday. They resumed daily production of some 200 mt temporarily last week when central government’s environmental reviews came to an end, SMM learned. While the fresh round of probe is scheduled to last until July 25, suspension at secondary lead smelters is set to extend to the end of this month as downstream consumption from lead-acid battery plants will be affected. Some local lead-acid battery plants were under full suspension again from July 6, sources told SMM.

Aluminium inventory draw faster as consumption picks up.

China’s inventory of primary aluminium across eight major markets, including SHFE warrants, fell 33,000 mt over the week to stand at 1.8 million mt as of Thursday July 12, SMM data showed. Accelerated downstream consumption due to falling prices led the decline in stocks to be bigger than the 10,000 mt week-on-week drop recorded last Thursday.

U.S. oil exports to India soar ahead of sanctions on Iran.

U.S. crude oil exports to India hit a record in June and so far this year are almost double last year’s total as the Asian nation’s refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration. U.S. President Donald Trump’s administration has been pressuring its allies to cut imports of Iranian goods to zero by November and India’s shift advances the U.S. administration efforts to use energy to further its political goals. The United States has become a major crude exporter, sending 1.76 million barrels per day (bpd) abroad in April, according to the latest government figures. All told, producers and traders in the United States will send more than 15 million barrels of U.S. crude to India this year through July, compared with 8 million barrels in all of 2017. The exports to India could go higher if China imposes levies on its U.S. oil imports over the latest round of U.S. tariffs, which could damp Chinese purchases and lead U.S. crude prices lower.

Precious Metals

CS GOLD (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 30500
RESIST 1: 30400
SUP 1: 30100
SUP 2: 30000
CS SILVER (SEP) OVERVIEW:
TREND : BEARISH
RESIST 2: 39800
RESIST 1: 39600
SUP 1: 38700
SUP 2: 38500

Base Metals

CS COPPER (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 432.00
RESIST 1: 430.00
SUP 1: 410.00
SUP 2: 408.00
CS NICKEL (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 1000.00
RESIST 1: 995.00
SUP 1: 960.00
SUP 2: 955.00
CS ZINC (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 186.00
RESIST 1: 184.00
SUP 1: 173.00
SUP 2: 171.00
CS LEAD (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 161.00
RESIST 1: 159.00
SUP 1: 153.00
SUP 2: 151.00
CS ALUMINIUM (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 146.00
RESIST 1: 144.00
SUP 1: 141.00
SUP 2: 139.00

Energies

CS CRUDE OIL (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 4990
RESIST 1: 4950
SUP 1: 4820
SUP 2: 4780
CS NATURAL GAS (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 200.00
RESIST 1: 198.00
SUP 1: 191.00
SUP 2: 189.00
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Wednesday, 11 July 2018

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Metal Prices Lower on Dollar Strength; Gold Off Lows But Under Pressure.
Gold prices were pushed lower Tuesday by higher U.S. government bond yields and a rising dollar, which also dented sentiment on other metals. Investor appetite for safe heavens such as gold, yen and Treasuries, were scaled back by sentiment for riskier assets, triggering an uptick in U.S. bond yields and forcing gold prices lower. The uptick in U.S. Treasury bond yields, which trade inversely to bond prices, were also supported by an increase in supply as a fresh round of the Treasury auctions slated for this week got underway Tuesday. Gold is sensitive to moves in U.S. rates, which lift the opportunity cost of holding gold as it pays no interest. Dollar strength, meanwhile, also held back metals, amid slight euro weakness and a slump in traditional safe-haven currencies like the yen.

Imported zinc to affect consumption of domestic cargoes.
Imported zinc is set to impact consumption of domestic brands, as downstream buyers favoured cheaper imports. As of Tuesday July 10, Australian SMC zinc traded at a discount of 20-50 yuan/mt over #0 domestic brands, AZ, KZ, and YP traded at a discount of 70-100 yuan/mt, and Spanish, Indian, and Peruvian brands traded at 170-220 yuan/mt. Import losses narrowed to around 100 yuan/mt as of Tuesday, SMM calculated. The import window opened as the yuan rebounded on uplifting remarks from the People's Bank of China (PBOC) last Tuesday, and on positive Chinese economic data.

Aluminium capacity of 322,500 mt to be commissioned in Liaoning. 
Yingkou Xintai Aluminum has secured green light to commission 322,500 mt of new primary aluminium capacity in Liaoning province in north China. This is through a capacity swap between the company and Henan Yugang Longquan Aluminium, according to Liaoning Provincial Industry and Informatization Commission earlier this month. Yingkou Xintai kicked off the construction of 460,000 mt of aluminium capacity in June 2012 and planned to commission the latest allowance this month. The plant is located in Yingkou Coastal Industries Base and the old capacity in Henan province has been demolished.

Oil Prices Fall as Trump Threatens to Levy New Tariffs on China.
Oil prices fell on Wednesday after Washington threatened to levy new trade tariffs on China, just a few days after the two nations slapped each other with tariffs last week. The U.S. said it would impose tariffs on an extra $200 billion worth of Chinese imports on Tuesday. President Donald Trump had warned earlier that his country may ultimately impose tariffs on more than $500 billion worth of Chinese imports.“The trade concerns have bitten today and the reason is that this is above and beyond what the market was expecting,” said Michael McCarthy, chief markets strategist at CMC Markets in Sydney. The bearish mood was also fuelled by news that U.S. Secretary of State Mike Pompeo said the White House would consider extending sanctions relief to some oil buyers of Iranian crude beyond the previously announced November deadline.

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Tuesday, 10 July 2018

Commodities-Market-1

Gold Prices Recover from 7-month Lows with Inflation Data in Focus.
Gold prices started the week off on the right foot, heading further away from seven-month lows seen last week, as easing worries over inflationary pressure supported the precious metal. Last Friday’s jobs report showed wage inflation increasing less than forecast, easing the pressure on the Federal Reserve to take a more aggressive path on policy tightening. Higher interest rates tend to weigh on demand for gold, which doesn’t bear interest, in favor of yield-bearing investments. In a session with no major economic reports, investors looked ahead to inflation data later in the week with the producer price index to be released on Wednesday, followed by the consumer price index a day later.
Zinc inventory holds steady over the weekend.
Zinc social inventory in Shanghai, Guangdong and Tianjin was little changed over the weekend as shipments leaving the warehouses in Shanghai offset the arrivals in Guangdong and Tianjin, SMM research found. The overall inventory edged down 2,300 mt from last Friday to 109,900 mt as of Monday July 9, with inventory in Shanghai down 3,800 mt to 80,400 mt, inventory in Guangdong up 1,400 mt to 10,700 mt and inventory in Tianjin up 100 mt to 18,800 mt, SMM data showed. We expect zinc prices to stablise this week. Downstream consumers are likely to take a watch-and-wait stance as some of them had restocked last week. The inventory, therefore, is expected to hold steady or nudge up this week.

Aluminium inventory dips slower over the weakened. 
China's inventory of primary aluminium acorss eight major markets, including SHFE warrants, fell 6,000 mt over the weekend to stand at 1.83 million mt as of Monday July 9, SMM data showed. A slowdown in downstream consumption led the decline to be smaller from the drop recorded a week ago.

Oil Prices Rise Amid Escalating Concerns Over Potential Supply Shortages.
Oil prices rose on Tuesday as hundreds of oil workers in Norway were set to strike later in the day, raising concerns of potential supply shortages.Analysts said the strike would likely affect the production of at least one field, Shell’s Knarr, and could potentially adds to disruptions in other oil producers. Meanwhile, United Araba Emirates Energy Minister Suhail Al Mazrouei said the OPEC and its allies are “doing what they could” to offset crude output shortfalls. “It’s unfair to say that OPEC is not doing its part,” Al Mazrouei, who’s also serving as president of OPEC, said in an interview with Bloomberg on Tuesday. “There are things outside of our hand, the geopolitics as well as how much production is coming from the shale oil and Canadian sands.” Al Mazrouei then said OPEC should not shoulder the blame.

Precious Metals

CS GOLD (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 30900
RESIST 1: 30800
SUP 1: 30500
SUP 2: 30400
CS SILVER (SEP) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 40400
RESIST 1: 40200
SUP 1: 39600
SUP 2: 39400

Base Metals

CS COPPER (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 446.00
RESIST 1: 444.00
SUP 1: 434.00
SUP 2: 432.00
CS NICKEL (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 995.00
RESIST 1: 990.00
SUP 1: 960.00
SUP 2: 955.00
CS ZINC (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 192.00
RESIST 1: 190.00
SUP 1: 183.00
SUP 2: 181.00
CS LEAD (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 166.00
RESIST 1: 164.00
SUP 1: 159.00
SUP 2: 157.00
CS ALUMINIUM (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 149.00
RESIST 1: 147.50
SUP 1: 143.50
SUP 2: 142.00

Energies

CS CRUDE OIL (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 5190
RESIST 1: 5150
SUP 1: 5040
SUP 2: 5000
CS NATURAL GAS (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 200.00
RESIST 1: 198.00
SUP 1: 192.00
SUP 2: 190.00
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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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Monday, 9 July 2018

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वैश्विक स्तर पर सोने की कीमतों में अच्छी तेजी के बावजूद स्थानीय मांग कमजोर पड़ने से सोमवार को दिल्ली सर्राफा बाजार में सोना गत कारोबारी दिन के 31,650 रुपए प्रति दस ग्राम पर स्थिर रहा. हालांकि, चांदी की औद्योगिक मांग बढ़ने से यह 250 रुपए चमककर 40,750 रुपए प्रति किलोग्राम पर पहुंच गई. 

बाजार में आज का सोने का भाव चेक करें 

थोक सर्राफा बाजार में वैवाहिक मांग अब खत्म हो चुकी है. इस कारण वैश्विक तेजी का असर स्थानीय बाजार में नहीं दिखा. डॉलर की तुलना में रुपए की मजबूती ने भी सोने को चमकने से रोका. 

विदेशों से मिली जानकारी के अनुसार, वहां सोना हाजिर 8.05 डॉलर की मजबूती के साथ 1,262.40 डॉलर प्रति औंस बोला गया. अगस्त का अमेरिकी सोना वायदा भी 6.40 डॉलर की बढ़त से 1,262.20 डॉलर प्रति औंस बोला गया. 

दुनिया की अन्य प्रमुख मुद्राओं की तुलना में डॉलर के तीन सप्ताह से ज्यादा के निचले स्तर तक गिरने से पीली धातु को मजबूती मिली है. डॉलर के कमजोर होने से अन्य मुद्राओं वाले देशों के लिए सोना आयात करना सस्ता हो जाता है. इससे मांग बढ़ती है और पीली धातु के दाम में तेजी आती है. 

अमेरिका में पिछले सप्ताह जारी रोजगार के आंकड़े उम्मीद से बेहतर रहने से डॉलर नरम पड़ा है. अंतर्राष्ट्रीय बाजार में चांदी हाजिर भी 0.19 डॉलर की मजबूती के साथ 16.17 डॉलर प्रति औंस पर पहुंच गई.




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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

Friday, 6 July 2018



Metals Under Pressure as U.S. Tariffs to Take Effect Midnight; Gold Higher -   Gold prices remained near session highs as a weaker dollar underpinned demand for the yellow metal, while other metals traded lower ahead of looming U.S.-China tariffs set to take effect Friday. A weaker dollar, and the prospect of an increase in U.S-China trade tensions propped up demand for the yellow metal as traders braced for the impact of U.S. tariffs on $34 billion worth of imported Chinese goods expected to take effect at midnight. China's 25% tariffs on $34 billion of U.S. goods are also expected to kick in on Friday, raising the prospect of a messy trade war between the world's two largest economies that could stifle economic growth. Gold prices traded in a narrow range, however, as traders awaited the release of the Federal Reserve's minutes due 2 PM ET for further clues on central bank's monetary policy outlook.

Environmental reviews lower Jun operating rate at zinc alloy die-casting plants - As environmental probes suspended production at some zinc alloy producers, the operating rate at zinc alloy die-casting plants across China dipped in June, SMM research found. The rate came in at 48.64% in June, down 2.04 percentage points month on month and down 10.66 percentage points year on year. Inspectors from the central government settled in the south and the east at the start of June, to review the rectification works for previous issues. Reviews lasted a month and some zinc alloy producers stopped production. Some die-casting plants, however, told SMM that they stepped up production in June as some consumers stockpiled on lower zinc prices in the second half of the month. Producers that passed rectification checks would gradually resume production while consumption is likely to weaken in a seasonal lull.

New maintenance at Shanxi plant to affect alumina output - Less than 10,000 mt of alumina production is estimated to be affected as Tianyuan Chemicals in Xiaoyi city, Shanxi province began maintenance on its production lines on Thursday July 5. Maintenance is scheduled to last eight days, SMM learned. In Jiaokou county of Shanxi, nearly 28,000 mt of alumina output will be affected as a local producer carried out maintenance from June 23 to July 10.

Oil Prices Dip Ahead of U.S.,China Tariffs - Oil prices were under pressure on Friday as a raft of import tariffs are scheduled to be imposed later in the day.Trump told reporters that another $16 billion are expected to go into effect in two weeks, and that he is considering to impose additional tariffs on $500 billion in Chinese goods if Beijing retaliate. Chinese officials have said earlier that it would retaliate against Trump’s tariffs on Chinese goods and threatened a 25% tariff on U.S. crude imports, which could potentially make U.S. oil uncompetitive in China, forcing its refiners to seek alternative supplies. Also weighing on prices was a ramp up in imports led to an unexpected build in U.S. crude supplies.



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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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Thursday, 5 July 2018

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Oil falls as Trump urges OPEC to cut prices; China duty on U.S. crude looms - Oil prices fell on Thursday after U.S. President Donald Trump sent a strident tweet demanding that OPEC cut prices for crude. The escalating trade row between Washington and Beijing, which triggered another sell-off in Asian stocks on Thursday, was also felt in oil markets, with China warning it could introduce duties on U.S. crude imports at an as yet unspecified date. Trump on Wednesday accused the Organization of Petroleum Exporting Countries (OPEC) of driving up fuel prices. "The OPEC Monopoly must remember that gas prices are up & they are doing little to help," Trump wrote on his personal Twitter account. "If anything, they are driving prices higher as the United States defends many of their members for very little $'s." This must be a two way street," he wrote, adding in block capitals, "REDUCE PRICING NOW!"

Gold Prices Hold Steady Ahead of Fed Minutes - Gold prices held steady on Thursday as traders awaited minutes from the U.S. Federal Reserve's June policy meeting later in the day. "There's not much incentive to move the market, it is very quiet this morning after the July 4 holiday. I don't expect too much movement until the Fed minutes," said Yuichi Ikemizu, Tokyo branch manager at ICBC Standard Bank. The outcome of a two-day U.S. Federal Reserve policy meeting is scheduled to be announced at 2PM ET (18:00 GMT). The central bank had projected in June two more rate hikes in 2018 for a total of four. Gold is highly sensitive to rising interest rates, as these increase the opportunity cost of holding non-yielding bullion. Trade tension remained in focus. On Friday, the U.S. is scheduled to impose tariffs on $34 billion of Chinese goods.   The Chinese government accused the U.S. of "opening fire" on the world with its threatened tariffs, and said Beijing would respond the instant U.S. measures go into effect.


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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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Wednesday, 4 July 2018

Imports slumped more than 25 per cent to 54 metric tons in June from a year earlier, a person familiar with the information said, asking not to be identified as the figures aren’t public. Overseas purchases plunged 40 per cent to 343 tons in the first half from a year ago, according to data from Finance Ministry officials compiled by Bloomberg.
Buying has been poor as the rupee extended its slump to a record low last month, making prices of overseas goods more expensive. Rural demand has suffered as farmers typically slow purchases from June to August because they are busy taking advantage of seasonal rains to plant crops. Finance Ministry spokesman D.S. Malik declined to comment on the June numbers.
Another reason for the decline in demand has been the waning interest from millennials, who are more attracted by high-end consumer goods. The precious metal has dropped to third position among India’s imports as the relentless rise in purchases of smartphones, TVs and other goods has made electronics the second-largest item, with oil the first.
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Monday, 2 July 2018

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Gold Prices Fall to More Than 6-Month Lows Amid Ongoing Dollar Strength -   Gold prices fell to more than six-month lows as the dollar added to gains, denting demand for the yellow metal despite the increased risk of an escalating trade war as U.S. tariffs on Chinese imported goods are expected to come into effect later this week. The dollar resumed its climb higher as traders increased their bets that the U.S. economy would fare better in a trade war than some of its trading peers ahead of U.S. tariffs on $34 billion worth of Chinese imported goods slated for July 6.he poor start to the week for gold prices comes as traders continued to shun the yellow metal slashing their bullish bets for the second-straight week, according to data from U.S. Commodity Futures Trading Commission (CFTC) released Friday.

East China spot aluminium traders active as futures prices rebound - Trading among traders were active in the spot aluminium market in east China on Monday July 2 as futures prices rebounded before noon, SMM learned. The SHFE 1807 contract rebounded from a low of 13,885 yuan/mt in the morning. Traders were keen to buy while downstream consumers purchased on demand. In Shanghai, transactions were mostly heard at 13,930-13,950 yuan/mt with discounts of 70-60 yuan/mt against the SHFE 1807 contract. Transactions in Wuxi and Hangzhou were both done at 13,930-13,950 yuan/mt. In Guangdong, sellers held back from selling as cash concerns eased at the start of the second half of the year while downstream consumers took a watch-and-wait approach. Transactions in Guangdong were mostly heard at 14,030-14,040 yuan/mt with Guangdong-Shanghai price spread at about 90 yuan/mt.

Tepid buying interest limits nickel spot trading in Shanghai - Lacklustre buying interest from stainless steel mills limited transactions of nickel plate in Shanghai on Monday July 2, SMM learned. Most transactions were heard at 116,500-117,000 yuan/mt. Norilsk nickel traded at a premium of about 100 yuan/mt over the Wuxi Stainless Steel Exchange 1807 contract with Jinchuan trading at a premium of about 300 yuan/mt. Jinchuan raised its offer of nickel plate to 117,000 yuan/mt.

Oil Prices Rise as Libya Declares Force Majeure On Its Supply - Oil prices rose on Tuesday amid reports that Libya declared force majeure on significant amounts of its supply.Libya's National Oil Corporation (NOC) declared force majeure on loadings from Zueitina and Hariga ports on Monday, resulting in total production losses of 850,000 bpd due to the closure of eastern fields and ports. Meanwhile, rising overall output from the Organization of the Petroleum Exporting Countries (OPEC) as well as in the U.S. continued to be cited as headwind for oil prices. OPEC's June output was 32.32 million barrels per day (bpd), up 320,000 bpd from May, Reuters reported on Monday. U.S. oil production, which has surged by 30% over the last two years to 10.9 million barrels per day (bpd), were also in focus.



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Sunday, 1 July 2018

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Gold prices recovered some of its losses from lows as speculators took profits amid a weaker dollar -   Gold prices are likely to remain under pressure this week as traders digest the minutes of the Federal Reserve’s June meeting on Thursday, when markets re-open after Wednesday’s Independence Day holiday. The Fed hiked interest rates in June and signaled for the first time that they could lift rates four times this year, a typically gold-negative factor. On Friday, metals traders will turn their attention to the U.S. employment report for June for an update on the health of the labor market. The report is expected to show that hiring cooled. Last month’s jobs report was overshadowed by a tweet from U.S. President Donald Trump that said he was looking forward to the data, so investors will likely keep an eye on the president’s Twitter account ahead of the release of the report.

Copper prices remained under pressure from escalating trade tensions between the United States and top metals consumer China - Copper on MCX settled down -0.54% at 452.3 as prices remained under pressure from escalating trade tensions between the United States and top metals consumer China. The floor price of imported copper concentrate treatment charges (TCs) for the third quarter has yet to be decided by the China Smelters Purchase Team (CSPT). In anticipation of further upward room in the third quarter, the CSPT members were unwilling to suggest a reference price for the TCs in the hope of getting a better price. Another reason could be due to the varying inventory levels among the team members, which left them unable to reach an agreement.

Zinc dropped as pressure again seen after China's largest zinc smelter said it would not participate in the output cuts - Zinc on MCX settled down -1.76% at 198 as pressure again seen after China's largest zinc smelter said it would not participate in the output cuts, while doubts emerged over whether other smelters would fully comply. Earlier news was there that China's top zinc smelters plan to cut output by 10 percent after holding a meeting in Shaanxi province to address low zinc prices and treatment charges, two sources briefed on the matter said. In May, China, the world's biggest zinc producer, churned out 457,000 tonnes of the metal which is used to galvanise steel, according to the National Bureau of Statistics.

Oil falls amid rising Saudi output, Asian economic slowdown - Oil prices fell by more than 1 percent on Monday as supplies from top exporter Saudi Arabia rose and as signs of an economic slowdown in Asia dented the outlook for demand.U.S. President Donald Trump wrote in a tweet on Saturday that Saudi Arabia's King Salman bin Abdulaziz Al Saud had agreed to produce more oil. The White House later walked back on the president's comments, saying the king said his country can raise oil production if needed. Saudi Arabia's output is up by 700,000 barrels per day (bpd) from May, a Reuters survey found on Friday, and close to its 10.72 million bpd record from November 2016, more than making up for disruptions elsewhere within the Organization of the Petroleum Exporting Countries (OPEC).



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