Commodity Morning Trading Guide | Globe Capital Market LTD.
21-Apr-2025
Commodity Morning Trading Guide

  • Bullions counter may trade on firm path as gold prices surged to a record high on Monday, spurred by concerns over global economic growth due to the spiralling Sino-U.S. trade war, with a weaker dollar further boosting the rally.

Report Overview

COMMODITY DAILY MARKET NEWS AND OUTLOOK

BULLIONS

  • Bullions counter may trade on firm path as gold prices surged to a record high on Monday, spurred by concerns over global economic growth due to the spiralling Sino-U.S. trade war, with a weaker dollar further boosting the rally.
  • Overall gold (Jun) can move in range of 95800-97100 while silver (May) also can move in range of 95000-96500.
  • U.S. President Donald Trump announced “reciprocal tariffs” on dozens of countries on April 2 and while his administration has paused levies for some countries, it has ratcheted up its trade battle with China.
  • China on Monday warned countries against striking a broader economic deal with the United States at its expense, a move Trump is reportedly seeking from countries seeking tariff reductions or exemptions.
  • Meanwhile, Trump launched a series of attacks against Federal Reserve Chair Jerome Powell on Thursday, with his team evaluating whether they could fire Powell.

BASE METALS

  • In base metal counter, Copper prices can trade on positive path as it can move in range of 842-855. Shanghai copper prices were trading slightly higher on Monday as the dollar weakened to a three-year low, though ongoing trade unease between the U.S. and China, the world’s leading metals consumer, was likely to limit further gains.
  • Aluminum prices can trade on mixed path as it may move in range of 226-235.while lead may also move in range of 175-179.
  • The dollar tumbled as investor confidence in the U.S. economy took another hit over President Donald Trump’s plans to shake up the Federal Reserve, which would throw into question the independence of the central bank.
  • China’s ambassador to the United States, Xie Feng, urged Washington on Saturday to seek common ground with Beijing and pursue peaceful coexistence while warning that China stood ready to retaliate in the escalating trade war.

 ENERGY

  • Crude oil may trade on negative path as it can move in range of 5370-5460. Oil prices fell more than 1% at Monday’s open in Asia after nuclear talks between the United States and Iran progressed, easing supply concerns.
  • Oil prices fell more than 1.5% on Monday as investors once again focused on concerns U.S. tariffs on its trading partners will create economic headwinds that will reduce fuel demand growth.
  • Natural gas may trade on weaker path as it can move in range of 266-276.
  • OPEC+, the group of major producers including the Organization of the Petroleum Exporting Countries and allies such as Russia, is still expected to hike output by 411,000 barrels per day starting in May, though some of that increase may be offset by cuts from countries that have been exceeding their quotas.
  • Concerns about tightening Iranian oil supply and hopes for a trade deal between the United States and the European Union, pushed Brent and WTI up about 5% last week, their first weekly gain in three weeks.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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