- Bullions counter may trade with firm path as prices rose on Tuesday, after gaining in the last three sessions, supported by a weaker U.S. dollar and lower Treasury yields following last week’s weak U.S. jobs data that boosted expectations of a Federal Reserve rate cut in September.
Commodity Morning Trading Guide
Report Overview
COMMODITY DAILY MARKET NEWS AND OUTLOOK
BULLIONS
- Bullions counter may trade with firm path as prices rose on Tuesday, after gaining in the last three sessions, supported by a weaker U.S. dollar and lower Treasury yields following last week’s weak U.S. jobs data that boosted expectations of a Federal Reserve rate cut in September.
- Overall gold can move in range of 100000-101500 while silver also can move in range of 111000-113000.
- The dollar index fell for the third straight session on Tuesday, making gold more affordable for holders of other currencies. Meanwhile, the yield on the benchmark 10-year Treasury note dropped to a three-week low.
- According to the CME FedWatch tool, traders now see an 94.4% chance of a September rate cut.
- Gold, traditionally considered a safe-haven asset during political and economic uncertainties, tends to thrive in a low-interest-rate environment.
BASE METALS
- In base metal counter, Copper prices can trade on upside path as it can move in range of 883-890. London copper rose for a third straight session on Tuesday, supported an overall weaker U.S. dollar and supply concerns after a fatal mining collapse in top producer Chile.
- Aluminum prices can trade on stronger path as it may move in range of 248-253.while lead may also move in range of 177-183.
- Codelco is the world’s biggest copper miner, while Chile supplies about a quarter of the world’s red metal used in industries from construction to electronics.
ENERGY
- Crude oil may trade on lower path as it can move in range of 5750-5900. Oil prices were little changed on Tuesday after three days of declines on mounting oversupply concerns after OPEC+ agreed to another large output increase in September, though the potential for more Russian supply disruptions supported the market.
- The Organization of the Petroleum Exporting Countries and its allies, together known as OPEC+, pumps about half of the world’s oil and had been curtailing production for several years to support the market, but the group introduced a series of accelerated output hikes this year to regain market share.
- U.S. President Donald Trump is threatening to impose 100% secondary tariffs on Russian crude buyers. This follows a 25% tariff on Indian imports announced in July.
- Natural gas may trade on lower path as it can move in range of 254-265.
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.
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