Bullions counter may trade on positive path as gold prices scaled a record peak above the key $3,000 mark on Tuesday for the second time within a week, as investors sought cover from economic concerns fuelled by U.S. President Donald Trump’s tariff polices
Commodity Morning Trading Guide
Report Overview
BULLIONS
- Bullions counter may trade on positive path as gold prices scaled a record peak above the key $3,000 mark on Tuesday for the second time within a week, as investors sought cover from economic concerns fuelled by U.S. President Donald Trump’s tariff polices.
- Overall gold (Apr) can move in range of 87800-88600 while silver (May) also can move in range of 100000-103000.
- Historically considered a reliable store of value during times of geopolitical instability, gold has risen 14% so far this year. Since Trump took office in January, gold has hit a record high 14 times as trade tensions have led to growing safe-haven demand.
- Trump has floated plans for a series of U.S. tariffs, from a flat 25% on steel and aluminum which came into effect in February, as well as reciprocal and sectoral tariffs that he said will be imposed on April 2.
BASE METALS
- In base metal counter, Copper prices can trade on upside path as it can move in range of 890-910. Copper prices on the London Metals Exchange (LME) held steady at a five-month high on Tuesday, driven by China’s stimulus plan and a weak U.S. dollar.
- Aluminum prices can trade on firm path as it may move in range of 262-267.while lead may also move in range of 180-185.
- The U.S. dollar wallowed near a five-month trough, as investors grappled with the potential economic impact of growing global trade tensions.
- Meanwhile, the draft EU plan reveals the European Commission’s consideration of potential import restrictions on aluminium, prompted by apprehensions that the metals tariffs imposed by the Donald Trump administration could trigger a surge of aluminium redirected towards Europe.
ENERGY
- Crude oil may trade on upside bias as it can move in range of 5820-5930. Oil prices were little changed in early trading on Tuesday as global growth concerns, U.S. tariffs and Russia-Ukraine ceasefire talks offset increased instability in the Middle East that could impact supply.
- Chinese economic data showing that retail sales growth quickened in January-February gave investors reasons for optimism, although factory output fell and the urban jobless rate reached its highest in two years.
- Natural gas may trade on volatile path as it can move in range of 345-360.
- Meanwhile, talks on Tuesday between Trump and Russian President Vladimir Putin about ending the Ukraine war were in focus. Markets believe a potential peace negotiation would involve the easing of sanctions on Russia and the return of Russian crude supply to global markets, weighing on prices.
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.