- Bullions counter may trade on volatile path as gold prices inched lower on Friday but were on track for a weekly rise as uncertainty around U.S. President Donald Trump’s tariff plans firmed demand for bullion, while investors awaited for U.S. non-farm payrolls data later in the day.
Commodity Morning Trading Guide
Report Overview
BULLIONS
- Bullions counter may trade on volatile path as gold prices inched lower on Friday but were on track for a weekly rise as uncertainty around U.S. President Donald Trump’s tariff plans firmed demand for bullion, while investors awaited for U.S. non-farm payrolls data later in the day.
- Overall gold (Apr) can move in range of 85500-86000 while silver (May) also can move in range of 97300-99000.
- Trump on Thursday suspended the 25% tariffs he imposed this week on most goods from Canada and Mexico, the latest twist in a fluctuating trade policy that has whipsawed financial markets and fanned worries over inflation and a growth slowdown.
- U.S. jobless claims fell more than expected last week, suggesting that the labor market remained stable in February, though turbulence lies ahead from tariffs on imports and deep government spending cuts.
BASE METALS
- In base metal counter, Copper prices can trade on strong path as it can move in range of 880-895. Shanghai copper rose on Friday to its highest in nearly five months, buoyed by expectations of further stimulus from top consumer China to spur economic growth.
- Chinese officials on Thursday flagged more monetary policy easing “at an appropriate time” and left the door open to more stimulus measures on top of those announced at this week’s annual parliament meeting if economic growth veered off track.
- Aluminum prices can trade on firm path as it may move in range of 260-267.while lead may also move in range of 177-182.
- Meanwhile, U.S. president Donald Trump suspended the 25% tariffs he imposed this week on most goods from Canada and Mexico.
ENERGY
- Crude oil may trade on mixed bias as it can move in range of 5700-5860. Oil prices were little changed on Friday but were set for their biggest weekly decline since October as the uncertainty around U.S. tariff policy is creating concerns about demand growth at the same time major producers are set to increase output.
- On Thursday, U.S. President Donald Trump suspended the 25% tariffs he had imposed on most goods from Canada and Mexico until April 2, although steel and aluminium tariffs would still go into effect on March 12 as scheduled.
- Natural gas may trade on volatile path as it can move in range of 337-390.
- Brent prices on Wednesday fell to their lowest since December 2021 after U.S. crude inventories rose and in the wake of the decision by the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, to increase their output quotas.
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.