Bullions counter may trade on strong path as yellow metal prices were stable on Wednesday, recovering slightly after a tech-driven market selloff, as uncertainty over U.S. tariffs spurred safe-haven demand, while focus shifted to the Federal Reserve’s meeting conclusion due later in the day.
Commodity Morning Trading Guide
Report Overview
BULLIONS
- Bullions counter may trade on strong path as yellow metal prices were stable on Wednesday, recovering slightly after a tech-driven market selloff, as uncertainty over U.S. tariffs spurred safe-haven demand, while focus shifted to the Federal Reserve’s meeting conclusion due later in the day.
- Overall gold (Apr) can move in range of 80500-81500 while silver (Mar) also can move in range of 90000 -92000.
- Bullion fell more than 1% on Monday, marking its steepest drop since Dec. 18, spurred by DeepSeek’s low-cost AI model. The sharp declines in global equity markets in the previous session prompted risk-averse moves across other asset classes.
- The Fed started its two-day meeting on Tuesday and is expected to keep rates steady after 100 basis points of easing from September to December.
BASE METALS
- In base metal counter, Copper prices can trade on lower path as it can move in range of 820-830. London copper inched higher on Wednesday, but lingered near a three-week low hit in the last session as U.S. President Donald Trump’s threat to levy tariffs on copper imports kept the market under pressure.
- Aluminum prices can trade on mixed path as it may move in range of 244-248.while lead may also move in range of 176-182.
- Tariff concerns have resurfaced after Trump said on Monday he would impose tariffs on aluminium and copper – metals needed to produce U.S. military hardware – as well as steel, to entice producers to make them in the United States.
- The United States imports 38% of its copper needs and is highly dependent on aluminum imports, with supplies from other countries such as Canada and Mexico covering 82% of its annual consumption
ENERGY
- Crude oil may trade on mixed path as it can move in range of 6300-6450. Oil prices steadied on Wednesday as investors weighed the impact of potential U.S. tariffs on Canadian and Mexican imports, while largely shrugging off an increase in U.S. weekly crude inventory.
- The EIA, the statistical arm of the U.S. Department of Energy, is due to release its weekly data at 1530 GMT on Wednesday. In the Middle East, fears of supply disruption in Libya eased after the country’s state-run National Oil Corp said export activity was running normally after it held talks with protesters.
- Natural gas may trade on weaker path as it can move in range of 260-285.
- Saudi Arabia’s energy minister and several of his OPEC+ counterparts have held talks following Trump’s call for lower oil prices and ahead of a meeting next week of OPEC+ oil-producing countries, according to official statements and sources.
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.