- Bullions counter may trade with upside bias as yellow metal prices edged higher on Wednesday, as investors digested economic data showing an increase in U.S. consumer prices last month and awaited further clarity on U.S. President Donald Trump’s trade policy.
Commodity Morning Trading Guide
Report Overview
BULLIONS
- Bullions counter may trade with upside bias as yellow metal prices edged higher on Wednesday, as investors digested economic data showing an increase in U.S. consumer prices last month and awaited further clarity on U.S. President Donald Trump’s trade policy.
- Overall gold (Aug) can move in range of 97000-98000 while silver (Sep) also can move in range of 110000-114000.
- U.S. consumer prices increased in June by the most in five months amid higher costs for some goods, suggesting tariffs were starting to have an impact on inflation and potentially keeping the Federal Reserve on the sidelines until September.
- The U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of upward pressure from the Trump administration’s tariffs, Dallas Fed Bank President Lorie Logan said.
BASE METALS
- In base metal counter, Copper prices can trade on upside path as it can move in range of 880-885. Copper prices on the London Metal Exchange and the Shanghai Futures Exchange moved little on Wednesday, as markets awaited the impact of U.S. President Donald Trump’s trade tariffs, which are set to take effect on August 1.
- Aluminum prices can trade on upside path as it may move in range of 246-252.while lead may also move in range of 176-183.
- China’s first-half economic data are out. Overall, there’s nothing to worry about other than the persistently sluggish property market. U.S. is unlikely to cut interest rate soon with the June CPI, tariffs will be the next.” In June, U.S. consumer prices rose 0.3%, making the largest increase in five months in June.
- The U.S. president also revealed fresh details about planned duties on pharmaceuticals after the European Union, one of the top U.S. trading partners, readied retaliatory measures in case talks with Washington failed.
ENERGY
- Crude oil may trade on mixed path as it can move in range of 5650-5800. Oil prices rose on Wednesday on expectations of steady demand in the U.S. and China, the world’s two largest oil users, amid an improving economic outlook. That reversed two days of declines as the market downplayed the potential for supply disruptions after U.S. President Donald Trump threatened tariffs on purchases of Russian oil.
- However, major oil producers are pointing to improvement in economic growth for the second half of the year and Chinese data showed growth there remained consistent.
- Additionally, the Organization of Petroleum Exporting Countries (OPEC) forecast in a monthly report on Tuesday that the global economy would do better in the second half of the year, boosting the oil demand outlook.
- Natural gas may trade on mixed path as it can move in range of 290-308.
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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