COMMODITY OUTLOOK on Crude Oil

Crude Oil:

The Crude oil can remain sideways with positive bias. Failing oil inventories in US and ongoing trade war between US and China weighed on demand expectations. Lower supply after US banning Iran can support the prices at the lower levels. US also putting pressure on the countries who import from Iran. In MCX, Crude oil prices went higher by 67 points this week and ended at 4950 as compare to the last week closing price of 4883. Sell on high strategy would be better to follow in Crude oil in coming days.

chart

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COMMODITY OUTLOOK on Gold Market

Gold:-

The trend of Gold is Bearish. Dollar index is getting stronger against major currencies put pressure on the prices of Gold. Threat of tariffs by US on additional $200 billion of Chinese goods also helps Dollar index to went 11 months highs level. In MCX, it fell down by 210 points on weekly basis and ended at 29895 as compared to last week closing price of 30105. Gold prices are trading on weak note, thus we can expect the same momentum in Gold prices in upcoming day. Sell on high strategy would be better to follow for next week.

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COMMODITY OUTLOOK on Zinc Market

ZINC:-

The Zinc can remain Bearish. Metals prices come under pressure after the data pointed to a slowing down of the economic growth in China. On Thursday, weaker than expected China’s Data, Industrial Production, retails dales and fixed investment data has ignite worries of slowdown in the nation which in turn has hit the demand expectation and which leads to the pressure on the base metals prices. In MCX, Zinc fell down by 5.75 points and ended at 211.80 as compare to the last week closing price of 217.55. We can expect more selling pressure on the prices of Zinc in coming days. Sell on High strategy would be better to follow in upcoming days.

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STARINDIA Research Base Metal Tips UPDATE: Missed Call@8817002233

UPDATE:-

SAFE TRADER CAN BOOK PART PROFIT IN COPPER SELL 50% PROFIT OF 1ST TGT CAN BE BOOKED AT 447.70.

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क्रूड में कमजोरी, सोने में हल्की बढ़त

ग्लोबल बाजार में कच्चे तेल में कमजोरी देखने को मिल रही है। नायमैक्स पर डब्ल्यूटीआई क्रूड 0.8 फीसदी फिसलकर 62.1 डॉलर पर कारोबार कर रहा है। ब्रेंट क्रूड भी 0.8 फीसदी गिरकर 65.25 डॉलर पर कारोबार कर रहा है।

gold crude promotional

हालांकि डॉलर की कमजोरी बढ़ने से सोने में चमक दिख रही है। कॉमैक्स पर सोना 0.15 फीसदी की बढ़त के साथ 1,337.3 डॉलर पर कारोबार कर रहा है। चांदी 0.2 फीसदी गिरकर 16.75 डॉलर पर कारोबार कर रही है।

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Commodity Market Trading Tips-Gold Rate Today: Gold trades lower in morning deals

Gold prices were trading lower in the morning deals on Friday on account of subdued demand of precious metal from jewellers, retailers and investors.

MCX Gold futures were down 0.36 per cent, or Rs 109, at Rs 30,464 at around 11.05 am (IST).

commodity gold

Nirmal Bang Commodities said, “We expect gold prices to trade range bound for the day as the dollar strengthened during the week.”

SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, said its latest holdings stood at 827.79 tonnes, remain unchanged from previous business day.

Latest holdings of the largest silver-backed exchange-traded-fund (ETF), New York’s iShares Silver Trust SLV, stood at 9,803.06 tonnes, remain unchanged from previous business day.

SMC Investment and Advisors believes that the bounce back in greenback is likely to keep prices under pressure. “Gold can move in range of Rs 30,450-30,700 while silver can move in range of Rs 38,300-38,800 in near term.”

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Commodity Market Trends

Commodity  Trends

  R1 S1
GOLD 31250 30350
NATURAL GAS 170 161
CRUDE 4070 3800
COPPER 478 445
ALUMINIUM 145 137
LEAD 165 150
 

commodity_opening_240 (1)

 

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