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

  • Bullions counter may trade on positive path as gold prices rose on Friday and were headed for a third consecutive week of gains, while investors closely monitored further developments in the trade negotiations between the U.S. and China.

Report Overview

BULLIONS

  • Bullions counter may trade on positive path as gold prices rose on Friday and were headed for a third consecutive week of gains, while investors closely monitored further developments in the trade negotiations between the U.S. and China.
  • Overall gold (Jun) can move in range of 95000-96500 while silver (May) also can move in range of 97000-99500.
  • Gold hit the $3,500-per-ounce mark on Tuesday due to concerns about the U.S. economy, but prices fell below the $3,300 level a day later after U.S. President Donald Trump backed down from threats to fire the Federal Reserve Chair and appeared to soften his stance on China.
  • Fed officials indicated they saw no urgency in revising the monetary policy as they sought more information to determine how the Trump administration’s tariffs were affecting the economy.

BASE METALS

  • In base metal counter, Copper prices can trade on upside path as it can move in range of 848-857. Copper prices hovered near a three-week high on Friday and were headed for a weekly gain on signs of a potential de-escalation in U.S.-China trade tensions even as President Donald Trump’s myriad of comments created confusion and volatility in global markets.
  • Aluminum prices can trade on mixed path as it may move in range of 231-237.while lead may also move in range of 173-177.
  • The dollar has oscillated wildly this week, starting with a 1% tumble against major peers on Monday, only to surge 1.5% a day later on Trump’s comments

 ENERGY

  • Crude oil may trade on positive path as it can move in range of 5320-5450. Oil prices edged higher on Friday but were on track for a weekly loss as a potential OPEC+ output increase and a possible ceasefire in the Russia-Ukraine war may raise supply at the same time conflicting U.S. tariff signals limit the demand outlook.
  • Natural gas may trade on weaker path as it can move in range of 245-255.
  • A halt to Russia’s war in Ukraine and the easing of sanctions against them could allow more Russian oil to flow to global markets. Russia, a member of the OPEC+ group that includes the Organization of Petroleum Exporting Countries, is one of the world’s biggest oil producers along with the U.S. and Saudi Arabia.
  • Successful talks with Europe and the U.S. would likely result in the lifting of sanctions on Iranian oil exports. Iran is the third-biggest oil producer in OPEC behind Saudi Arabia and Iraq.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Disclosure

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