- Bullions counter may trade on mixed path as yellow metal prices eased on Monday, pressured by profit-taking and an uptick in the dollar, though losses were limited as investors looked ahead to a U.S. Federal Reserve meeting, where a rate cut is expected following a series of weak labor market reports.
Commodity Morning Trading Guide
Report Overview
BULLIONS
- Bullions counter may trade on mixed path as yellow metal prices eased on Monday, pressured by profit-taking and an uptick in the dollar, though losses were limited as investors looked ahead to a U.S. Federal Reserve meeting, where a rate cut is expected following a series of weak labor market reports.
- Overall Gold (Oct) can move in range of 108800-110000 while Silver (Dec) also can move in range of 128000-130000.
- Inflation data released last Thursday came in slightly above expectations, but market believes this will not deter the Fed from a widely anticipated quarter-percentage-point rate cut on Wednesday.
- The Fed’s policy meeting this week comes amid challenges, including a legal dispute over its leadership and efforts to confirm U.S. President Donald Trump’s nominee to the Board of Governors.
BASE METALS
- In base metal counter, Copper prices can trade on mixed path as it can move in range of 905-920. Base metals in Shanghai and London were largely range bound on Monday as revived concerns over trade tensions between the world’s two-largest economies offset the optimism of a U.S. Federal Reserve rate cut.
- S. and Chinese officials will start another round of talks on Monday after concluding a first day of talks in Madrid on Sunday on their strained trade ties.
- Washington demands its allies place tariffs on imports from China over its purchases of Russian oil, while Beijing initiated an anti-discrimination investigation into U.S. trade policy over chips on Saturday, as well as a separate investigation into dumping.
- Aluminum prices can trade on mixed path as it may move in range of 257-262.while Zinc may move on volatile path as it may trade in range of 277-283.
ENERGY
- Crude oil may trade with positive path as it can move in range of 5520-5650. Oil prices were little changed on Monday as investors assessed the impact of Ukrainian drone attacks on Russian refineries that could disrupt its crude and fuel exports, while also eyeing U.S. fuel-demand growth.
- Both contracts gained more than 1% last week as Ukraine stepped up attacks on Russian oil infrastructure, including the largest oil exporting terminal Primorsk and the Kirishinefteorgsintez refinery, one of the two largest refineries in Russia.
- Pressure is mounting on Russia as U.S. President Donald Trump reiterated on Sunday that he is willing to impose sanctions on Russia but Europe has to act in a way that is commensurate with the United States.
- Natural gas may move on mixed path as it can move in range of 256-265.
Disclosure
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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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