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Showing posts with label commoditytips. Show all posts
Showing posts with label commoditytips. Show all posts

Monday, 18 March 2019


BULLION - Bullion counter may trade with sideways to positive bias as old prices rose for a third consecutive session on Tuesday as the dollar weakened on expectations that the U.S. Federal Reserve will maintain a dovish tone at its monetary policy meeting this week. Traders currently expect there will be no U.S. rate hikes this year, and is even building in bets for a rate cut in 2020. Federal Reserve Chairman Jerome Powell will speak at a news conference on Wednesday. Gold can witness bounce back towards 31800. Silver can take support near 37800 and can recover towards 38250. Prime Minister Theresa May's Brexit plans were thrown into further turmoil on Monday when the speaker of parliament ruled that she could not put her divorce deal to a new vote unless it was re-submitted in a fundamentally different form. European Union leaders could hold off making a final decision on any Brexit delay when they meet in Brussels later this week, senior diplomats in the bloc said, depending on what exactly British Prime Minister Theresa May asks them for.

ENERGY- Crude oil (Apr) may trade on sideways path as it may trade in range of 4060-4120 in MCX. Oil prices were near 2019 highs on Tuesday, supported by supply cuts led by producer club OPEC. U.S. sanctions against oil producers Iran and Venezuela are also boosting prices, although traders said the market may be capped by rising U.S. output. The Organization of the Petroleum Exporting Countries (OPEC) on Monday scrapped its planned meeting in April, effectively extending supply cuts that have been in place since January until at least June, when the next meeting is scheduled. OPEC and a group of non-affiliated producers including Russia, known as OPEC+, started withholding supply to halt a sharp price drop in the second-half of 2018, when markets came under pressure from surging output as well as an economic slowdown.

BASE METAL - Base metals prices may trade with positive bias. Copper may test 446 while taking support near 441 in MCX. Copper prices ticked up on Tuesday, supported by China�s announcement to cut tax for manufacturers from next month to boost growth in the world�s second-largest economy. China will cut value-added tax for manufacturing and other sectors on April 1, Premier Li Keqiang said on Friday, adding that cuts in taxes and fees remained a key measure to cope with downward pressure on its economy. Aluminium and nickel contracts ticked up on both London and Shanghai exchanges, with the three-month London aluminium hovering near an over-two-week high level.


Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
 
For more details call on 9977499927 or visit our website www.capitalstars.com

Thursday, 7 March 2019


BULLION - Bullion counter may trade sideways path as gold held steady on Friday as risk appetite faded after the European Central Bank cut its growth forecasts and launched an emergency round of policy stimulus, while a strong dollar capped gains ahead of U.S. nonfarm payrolls data. Gold can take support near 31800 while it can face resistance near 32200. Silver can take support near 37900 while facing resistance near 38300. The ECB changed track on its tightening plan on Thursday, pushing out the timing of its first post-crisis rate hike until 2020 at the earliest and offering banks a new round of cheap loans to help revive the euro zone economy. U.S. President Donald Trump is open to additional talks with Pyongyang over denuclearization, his national security adviser said on Thursday, despite reports that North Korea is reactivating parts of its missile program. China�s gold reserves rose slightly to $79.498 billion in February from $79.319 billion at the end of January, as the central bank increased the total amount of gold reserves to 60.260 million fine troy ounces from 59.940 million troy ounces.


ENERGY- Crude oil may open on negative note as oil prices fell on Friday after the European Central Bank (ECB) warned economic weakness would continue and as U.S. crude output and exports chase new records, undermining efforts by producer club OPEC to tighten global markets. Crude oil can test 3920 while facing resistance near 4000. Financial markets, including crude oil futures, took a hit after ECB President Mario Draghi said on Thursday the economy was in �a period of continued weakness and pervasive uncertainty�. Europe�s economic weakness comes as growth in Asia is also slowing down. On the supply side, prices have been receiving support this year from output cuts led by the Organization of the Petroleum Exporting Countries (OPEC). Together with some non-affiliated producers like Russia, the producer group has pledged to withhold around 1.2 million barrels per day (bpd) of supply to tighten markets and prop up prices. Natural gas may take support near 197 while taking facing resistance near 204 in MCX.



BASE METAL - Base metals prices may trade with sideways bias. China�s decision to increase its budget deficit ratio to 2.8 percent this year from 2.6 percent in 2018 is appropriate for the economy, and leaves room for policymakers to manoeuvre. Copper may take support near 450 while facing resistance near 458 in MCX .London copper prices were little changed on Friday with the market set for a weekly decline, as rising inventories and a drop in the premium for directly available metal signalled easing supply squeeze. Inventories in LME-registered warehouses rose to 120,075 tonnes from 116,872 tonnes on Wednesday, the lowest since 2008. Optimism over the ability of a potential U.S.-China trade deal and Chinese economic stimulus to push prices higher is fading. Zinc can test 191 while facing resistance near 195. Lead can dip further towards 145. Nickel can also test 915 while facing resistance near 930. Aluminum prices may trade in range of 143-145. Rusal, the world�s largest aluminium producer outside China, said on Thursday its business was back to normal after U.S. sanctions were lifted in January, and reiterated a positive outlook for the global aluminium market.



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

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