- Bullions counter may trade on upside path as gold prices advanced on Wednesday as anxious investors flocked to the safe-haven metal, bracing for announcements on U.S. reciprocal tariffs that could escalate the global trade war.
Commodity Morning Trading Guide
Report Overview
BULLIONS
- Bullions counter may trade on upside path as gold prices advanced on Wednesday as anxious investors flocked to the safe-haven metal, bracing for announcements on U.S. reciprocal tariffs that could escalate the global trade war.
- Overall gold (Apr) can move in range of 90600-91400 while silver (May) also can move in range of 99000-102000.
- Suspense hangs over the market as uncertainty is looming large over the details of the U.S. tariffs slated for imposition later in the day, which Trump has dubbed “Liberation Day.” The White House confirmed new tariffs will be imposed, though it provided no details on the size or scope.
- Trump’s tariff policies could ratchet up inflation, potentially putting the brakes on economic growth and escalating trade disputes.
BASE METALS
- In base metal counter, Copper prices can trade on mixed path as it can move in range of 890-905. Copper prices in London edged up on Wednesday, but gains were capped as cautious investors awaited details of reciprocal tariffs from U.S. President Donald Trump scheduled later in the day.
- Aluminum prices can trade on mixed path as it may move in range of 243-248.while lead may also move in range of 176-179.
- The Caixin/S&P Global manufacturing PMI released on Tuesday climbed to 51.2 in March, from 50.8 in February, reflecting growth in manufacturing despite potential threats from the escalating U.S. trade war.
ENERGY
- Crude oil may trade on stronger path as it can move in range of 6040-6180. Oil prices steadied on Wednesday after falling in the previous session on concerns new U.S. tariffs set to be unveiled later in the day may deepen a global trade war that could limit crude demand.
- Natural gas may trade on weaker path as it can move in range of 330-345.
- The White House on Tuesday confirmed that President Donald Trump will impose new tariffs on Wednesday, though it provided no details about the size and scope of trade barriers.
- The declines were offset by threats by U.S. President Donald Trump to impose secondary tariffs on Russian oil, and as he ramped up sanctions on Iran on Monday as part of his administration’s “maximum pressure” campaign to cut its exports.
- U.S. crude oil inventories rose by 6 million barrels in the week ended March 28, according to sources, citing the American Petroleum Institute.
Disclosure
Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, MCX, NCDEX, and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager and Research Analyst. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates.
AY Securities and Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. AtoZFinstock Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited, LakshyaImpex Private Limited and Launchpad Fintech Private Limited are associates of GCML.
This report has been prepared by GCML and published in accordance with the provisions of Regulation 19 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, for use by the recipient as information only and is not for general circulation or public distribution. This report is not to be altered, transmitted, reproduced, copied, redistributed, uploaded, published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from GCML. The projections and the forecasts described in this report are based on estimates and assumptions and are inherently subject to significant uncertainties and contingencies. Projections and forecasts are necessarily speculative in nature, and it can be expected that one or more of the estimates on which the projections are forecasts were based may not materialize or may vary significantly from actual results and such variations will likely increase over the period of time. This report should not be construed as an offer to sell or the solicitation of an offer to buy, purchase or subscribe to any securities, and neither this report nor anything contained therein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. It does not constitute a personal recommendation or take into account the particular investment objective, financial situation or needs of any individual in particular. The research analysts of GCML have adhered to the code of conduct under Regulation 24 (2) of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. The recipients of this report must make their own investment decisions, based on their own investment objectives, financial situation or needs and other factors. The recipients should consider and independently evaluate whether it is suitable for its/ his/ her/their particular circumstances and if necessary, seek professional / financial advice as there is substantial risk of loss. GCML does not take any responsibility thereof.
Any such recipient shall be responsible for conducting his/her/its/their own investigation and analysis of the information contained or referred to in this report and of evaluating the merits and risks involved in securities forming the subject matter of this report. The price and value of the investment referred to in this report and income from them may go up as well as down, and investors may realize profit/loss on their investments. Past performance is not a guide for future performance. Actual results may differ materially from those set forth in the projection.
AY Securities and Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. AtoZFinstock Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited, LakshyaImpex Private Limited and Launchpad Fintech Private Limited are associates of GCML.
This report has been prepared by GCML and published in accordance with the provisions of Regulation 19 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, for use by the recipient as information only and is not for general circulation or public distribution. This report is not to be altered, transmitted, reproduced, copied, redistributed, uploaded, published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from GCML. The projections and the forecasts described in this report are based on estimates and assumptions and are inherently subject to significant uncertainties and contingencies. Projections and forecasts are necessarily speculative in nature, and it can be expected that one or more of the estimates on which the projections are forecasts were based may not materialize or may vary significantly from actual results and such variations will likely increase over the period of time. This report should not be construed as an offer to sell or the solicitation of an offer to buy, purchase or subscribe to any securities, and neither this report nor anything contained therein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. It does not constitute a personal recommendation or take into account the particular investment objective, financial situation or needs of any individual in particular. The research analysts of GCML have adhered to the code of conduct under Regulation 24 (2) of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. The recipients of this report must make their own investment decisions, based on their own investment objectives, financial situation or needs and other factors. The recipients should consider and independently evaluate whether it is suitable for its/ his/ her/their particular circumstances and if necessary, seek professional / financial advice as there is substantial risk of loss. GCML does not take any responsibility thereof.
Any such recipient shall be responsible for conducting his/her/its/their own investigation and analysis of the information contained or referred to in this report and of evaluating the merits and risks involved in securities forming the subject matter of this report. The price and value of the investment referred to in this report and income from them may go up as well as down, and investors may realize profit/loss on their investments. Past performance is not a guide for future performance. Actual results may differ materially from those set forth in the projection.