BULLION - Bullion counter may remain on firm path as gold prices gained on Tuesday, hovering near a more than six-year high hit the previous day, as concerns around protests in Hong Kong, a slump in Argentina's markets and the ongoing Sino-U.S. trade war dented risk appetite. Protesters managed to shut down Hong Kong's airport, the world's busiest cargo airport, on Monday. Fears of a possible return to interventionist policies, gripped the Argentine market after market-friendly President Mauricio Macri lost by a much wider-than-expected margin in presidential primaries.. Investors are focused on the Federal Reserve's annual symposium next week. Traders see a 74% chance of a 25 basis-point rate cut by the Fed this September.

ENERGY- Crude oil may trade with negative path as oil prices slipped on Tuesday, offsetting narrow gains in the previous session, as sluggish demand forecasts countered expectations that major producers would prop up oil prices by limiting crude oil output. U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report on Monday. Saudi Arabia, the de-facto leader of the Organization of the Petroleum Exporting Countries (OPEC), said late last week it plans to keep its crude oil exports below 7 million barrels per day in August and September to help drain global oil inventories. Saudi Aramco was ready for its IPO, but the timing for the deal will be decided by its sole shareholder, the Saudi government, a senior executive said on Monday. U.S. natural gas futures eased on Monday as the market focused more on an increase in production to record levels as opposed to forecasts for more demand over the next two weeks than previously expected.

BASE METAL - Base metals may trade on sideways to weaker path. China's banks extended surprisingly fewer new yuan loans in July, while growth of money supply and total social financing also slowed, raising pressure on the central bank to ease policy further to support the slowing economy. Lead prices touched a two-week high on Monday after Belgium-listed Nyrstar said it had stopped production at its Port Pirie smelter in Australia, raising fears of shortages of the metal mainly used in car batteries. The stoppage is the second this year at the lead smelter and follows an outage in June and July, when 30,000 tonnes of metal were lost in the 12 million tonne market. Shanghai aluminum rose to its highest in more than two months on Tuesday, as a typhoon in China affected the world's top aluminum producer, raising concerns about supply disruptions. Facilities belonging to China Hongqiao Group 1378.HK were damaged by flooding after Typhoon Lekima wreaked havoc in the smelting heartland of Shandong, according to a statement from an affiliate firm. Indonesia aims to speed up enforcement of a ban on mineral ore exports that is currently due to come into force in 2020, news website Detik.com quoted coordinating minister for maritime affairs Luhut Pandjaitan as saying on Monday.

 

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BULLION - Bullion counter may remain on firm path as gold prices edged up on Wednesday as the ongoing trade tensions between the United States and China continued to boost the appeal of safe-haven assets. Gold prices rose again on Thursday after topping the $1,500 mark in the previous session, as central banks around the world slashed interest rates amidst fears of a global recession. Spot gold rose 0.3% to $1,505 per ounce as of 0104 GMT. On Wednesday, gold soared over 2% to break the $1,500 barrier for the first time in over six years. U.S. gold futures were down 0.3% at $1,515.30 an ounce. Chicago Fed President Charles Evans signaled on Wednesday he was open to lowering rates to bolster inflation and to counter risks to economic growth. U.S. 10-year Treasury yields dropped further below three-month rates, an inversion that has reliably predicted recessions in the past. Central banks in New Zealand, India and Thailand surprised markets with aggressive easing on Wednesday. The Philippines central bank is expected to cut later today.

ENERGY- Oil futures jumped more than $1 a barrel on Thursday amid a weaker dollar, recovering ground after concerns that a global economic slowdown would hurt crude demand sparked losses of over 4% in the previous session. Brent crude had rebounded to $57.52 a barrel, up $1.29, or 2.29%, from its last close by 0032 GMT, while U.S. crude futures jumped $1.30, or 2.54%, to $52.39 a barrel. Both contracts hit their lowest levels since January on Wednesday after a surprise build in U.S. crude inventories added to worries that the brewing Sino-U.S. trade war could further dampen demand-growth this year. Bloomberg News reported the Saudis have decided the market slump is intolerable and all options are on the table. Trade war rhetoric will continue to guide markets, but the comments from Saudi Arabia could lead to unprecedented action to stabilise prices.. U.S. natural gas futures for Wednesday slipped close to a 38-month low with a 5% drop in crude prices and forecasts for less gas demand next week than previously expected. With less hot weather expected through late August, Refinitiv forecast demand in the Lower 48 states would slide to 89.8 bcfd next week from 91.7 bcfd this week as power generators burn less gas to keep air conditioners running.

BASE METAL - Base metals may trade on sideways to weaker path. Markets fear an escalation in the trade war could negatively affect metals demand China, the world's second largest economy. U.S. President Donald Trump on Wednesday said his tough stance on China's economic and trade policies would ultimately benefit the American economy, even as Beijing signaled it could strike back by curbing sales of chemicals known as rare earths that are used in everything from iPhones to military equipment. China consumes nearly half of all industrial metals. Coppers three-month price was weaker over the afternoon, falling to an intraday low of $5,665 per tonne, before closing at $5,705 per tonne. On the international market, zincs three-month price settled at $2,261 per tonne on Wednesday, its lowest price since October 2016. Nickels three-month price on the London Metal Exchange rallied by around 3% after the close of trading on Wednesday August 7, reaching a year-to-date high of $15,500 per tonne in what market participants labelled a broadly technical move. 

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BULLION - Gold (Oct) can test 35020 while taking resistance near 35510 and silver (Sep) can dip lower towards 40500 and resistance near 41300. The price of gold shot up from about 34040 to around 35630 as investor flocked into gold as yields plummeted following the increase in tariffs between the US and China. Trump said he would impose an additional 10% tariff on $300 billion worth of Chinese imports on Sept. 1 after U.S. negotiators returned from trade talks in Shanghai, saying China had failed to buy large quantities of U.S. agricultural products as promised. Trump also said if trade negotiations fail to progress he could raise tariffs further - even beyond the 25% levy he has already imposed on $250 billion of imports from China. The tariffs may also force the Federal Reserve to again cut interest rates to protect the U.S. economy from trade-policy risk. The October Fed funds rate futures FFV9 have jumped to now fully price in a rate cut in September, compared with only around 60% before the tariff announcement. Another 25 basis point move is priced in by December.

ENERGY- Crude oil may move towards 3650 while taking resistance near 3820. steadying after an overnight plunge following U.S. President Donald Trump’s move to impose more tariffs on Chinese imports, intensifying a trade war that has hit global growth. Brent crude slumped more than 7% on Thursday, its steepest drop in more than three years. U.S. crude fell nearly 8%, posting its worst day in more than four years, The collapse ended a fragile rally built on steady drawdown’s in U.S. inventories, even as global demand looked shaky due to the trade dispute between the world’s two biggest economies. Total U.S. oil demand in May fell 98,000 bpd to 20.26 million bpd, data showed earlier this week. OPEC and partners including Russia, an alliance known as OPEC+, have been curbing output this year to support the market. In July, OPEC production revisited a 2011 low, helped by a further cut by Saudi Arabia. Natural gas can recover towards 158 while taking support near 149. Despite the rally on Wednesday, the hotter trends in the overnight data are still not hot enough to impress and suggests there is still a bearish bias in the market. The rally we say yesterday was probably driven by short-covering due to the slight change in the weather pattern and grossly oversold technical indicators.

BASE METAL - Copper may test 436 while taking resistance near 445. Copper hitting its lowest in over three weeks after U.S. President Donald Trump said he would slap a 10% tariff on the remaining $300 billion of Chinese imports from next month. The reactivation of a smelter belonging to Chile’s state-run Codelco, the world’s top copper producer, will be further delayed until the end of October this year after missing a previous target of April. Copper contract on the Shanghai Futures Exchange dipped 0.6%, aluminium eased 0.2%. Three-month LME copper touched its lowest since July 10 at $5,876 a tonne before paring losses to $5,899, a decline of 0.5%.Zinc and lead dropped 0.8% each. However, nickel rose 1.2% and tin was almost unchanged. Zinc can test 187 while taking resistance near 192. Lead may test 149 while taking resistance near 154. Nickel may rise towards 1040 while taking support near 990. company PT Aneka Tam bang’s nickel ore output in Jan-Jun rose 27% on year to 4.79 mln tn. Aluminum may test 135 while taking resistance near 140.

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BULLION - Bullion counter may trade on weaker path as gold prices witnessed sharp decline in the previous session, while investors awaited U.S. economic growth data due later in the day that could provide clues about the Federal Reserve's monetary policy meeting. Gold fell on Thursday after data showed that weekly U.S. jobless claims number fell to a three-month low last week, pointing to strength in the labor market, while new orders for key U.S.-made capital goods surged 1.9 % in June. Market participants are now looking ahead to the U.S. central bank's July 30-31 monetary policy meeting where it is expected to trim its interest rate by at least 25 basis points. U.S. Treasury yields following rosier-than-expected economic sentiment from the European Central Bank. The ECB signalled its intention to explore monetary easing, but left interest rates unchanged, and bank President Mario Draghi struck a more upbeat tone on the economy than investors expected. The ECB signalled its intention to explore monetary easing, but left interest rates unchanged, and bank President Mario Draghi struck a more upbeat tone on the economy than investors expected.

ENERGY- Crude oil may trade on weaker path as oil prices fell after a Reuters poll showed global economic growth is likely to slow further amid the U.S.-China trade war, although losses were limited by tensions in the Middle East. A global economic growth rut risks deepening, despite expectations that major central banks will cut rates or ease policy further, according to Reuters polls of over 500 economists who remain worried about the U.S.-China trade war. Increasing pessimism is clear from the latest polls taken July 1-24, which show the growth outlook for nearly 90% of over 45 economies polled was either downgraded or left unchanged. That applied not just to this year but also 2020. While concerns over Middle East supply disruptions have led to recent price spikes, oil has generally been under pressure from worries about global economic growth amid growing signs of harm from the rumbling Sino-U.S. trade war over the past year. U.S. natural gas futures gained over 1% on Thursday following the release of a report showing a smaller-than-usual storage build last week and forecasts for slightly higher demand over the next two weeks than previously expected.

BASE METAL - Base metals may trade on subdued path. Copper prices dropped on Friday, on track for their first weekly decline in three, as comments from European Central Bank President Mario Draghi were less dovish than hoped after the bank held rates steady at its latest meeting. An aggressive easing by a major central bank generally supports growth and helps lift metal prices. Perus president said his government will re-evaluate its recent decision to grant a construction permit to Southern Copper Corp for its proposed mine Tia Maria at the request of local authorities calling for its annulment. The European Central Bank (ECB) signalled its intention to explore monetary easing but left interest rates unchanged on Thursday. Lead negotiators for China and the United States will meet in Shanghai on Tuesday for two days in the next round of trade talks aimed to end their year-long trade war, Chinas commerce ministry confirmed. 

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BULLION - Bullion counter may trade on sideways to weaker path as gold prices edged lower on Wednesday, but still held above the psychological $1,400 level, as the dollar gained after robust U.S. retail sales tempered fears of a sharp downturn in the world's largest economy. The Commerce Department said retail sales rose 0.4% last month as households stepped up purchases of motor vehicles and a variety of other goods. Economists polled by Reuters had forecast retail sales edging up 0.1% in June. However, Fed Chairman Jerome Powell on Tuesday reiterated pledges to "act as appropriate" to keep the U.S. economy humming, in a speech that did not deviate from expectations that a rate cut is on the way. Meanwhile, President Donald Trump said on Tuesday the United States still has a long way to go to conclude a trade deal with China but could impose tariffs on an additional $325 billion worth of Chinese goods if it needed to do so.

ENERGY- Crude oil may trade on weaker path as oil steadied after falling more than 3% overnight, with U.S. crude trailing Brent after U.S. inventory data fell short of expectations, amid conflicting signals from the U.S. and Iran over the disputes that have roiled prices recently. Iran denied it was willing to negotiate over its ballistic missile program, contradicting a claim by U.S. Secretary of State Mike Pompeo, and appearing to undercut Trumps statement that Washington had made progress on its disputes with Tehran. Tensions between the United States and Iran over Tehrans nuclear program have lent support to oil futures; given the potential for a price spike should the situation deteriorate. Crude inventories fell by 1.4 million barrels in the week to July 12 to 460 million, industry group the American Petroleum Institute said on Tuesday. Still, more than half the daily crude production in the U.S. Gulf of Mexico remained offline on Tuesday in the wake of Hurricane Barry, the U.S. drilling regulator said, as most oil companies were re-staffing facilities to resume production. U.S. natural gas futures on Tuesday fell more than 4%, its biggest daily percentage decline since late January on forecasts for less hot weather through the end of July than previously forecast and a slow return of production from the Gulf of Mexico after Tropical Storm Barry.

BASE METAL - Base metals may trade with mixed path. Peruvian President Martin Vizcarra rejected a demand from a regional governor on Tuesday to cancel a permit for Southern Copper Corps $1.4 billion Tia Maria copper mine project amid protests from local residents. London zinc prices fell on Wednesday, ending a five-session streak of gains, after data showed a global zinc market deficit narrowed in May. The global zinc market deficit narrowed to 27,200 tonnes in May from an upwardly revised deficit of 87,500 tonnes in April, data from the International Lead and Zinc Study Group (ILZSG) showed. Zinc inventories in LME-approved warehouses have risen around 60% since April when the stockpiles hit a record low, while stocks in warehouses tracked by ShFE have jumped 268% year-to-date. The global lead market recorded a 13,400-tonne surplus in May after a deficit of 30,800 tonnes in April, data from the ILZSG showed. 

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BULLION - Bullion counter may trade on sideways to weaker path as gold prices were little changed in early Asian trade on Tuesday as investors awaited U.S. retail sales data due later in the day for further clues on policy easing from the Federal Reserve in the face of a global slowdown. The dollar index was relatively unchanged against a basket of major currencies as the prospect of a Federal Reserve interest rate cut later in the month kept the greenback on the defensive. A rate cut this month is seen as certain with interest rate futures traders pricing in a 72% chance of a 25 basis point cut and a 28% likelihood of a 50 basis point cut, according to the CME Group's FedWatch tool. Longer-dated U.S. Treasury yields edged lower on Monday as investors focused on Tuesday's retail sales figures as the next indicator of the strength of the U.S. economy. India's gold imports rose 13.04% to $2.69 billion in June compared with a year earlier, the trade ministry said in a statement on Monday.

ENERGY- Crude oil may trade on weaker path as oil prices fell for a second day on Tuesday as more production facilities returned to operation in the U.S. Gulf after Hurricane Barry swept through over the weekend, while Chinese economic data dimmed the outlook for crude demand. U.S. crude fell by 10 cents, or 0.2% to $59.48 a barrel. The U.S. benchmark fell about 1% in the previous session. Both contracts last week made their biggest weekly gains in three weeks as U.S. oil inventories fell and diplomatic tensions rose in the Middle East. In the U.S. there was 1.3 million barrels per day (bpd) of oil production offline in the U.S.-regulated areas of the Gulf of Mexico on Monday, about 80,000 barrels fewer than on Sunday. Workers also were returning to the more than 280 production platforms that had been evacuated. It can take several days for full production to be resumed after a storm leaves the Gulf of Mexico.

BASE METAL - Base metals may trade with mixed path. U.S. President Donald Trump on Monday seized on slowing economic growth in China as evidence that U.S. tariffs were havinga major effect and warned that Washington could pile on more pressure as bilateral trade talks sputtered along. Copper prices took a break from a strong rally on Tuesday after positive industrial output and investment data from top consumer China sent prices to a two-week high in the previous session. Three-month copper on the London Metal Exchange was almost unchanged at $5,985.50 a tonne by 0229 GMT, while the most-traded copper contract on the Shanghai Futures Exchange advanced 0.3% to 46,930 yuan ($6,827.17) a tonne. Protesters blocked a portion of Perus main coastal highway on Monday in the start of a new challenge to Southern Copper Corps $1.4 billion Tia Maria copper mine project that has been a lightning rod for conflict. 

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BULLION - Bullion counter may trade on sideways path as some profit booking can be seen at higher levels. Gold prices held steady, as Chinas industrial output grew 6.3% in June from a year earlier, official data showed on Monday, picking up from Mays 17-year low and handily beating market expectations. Retail sales for June rose 9.8% in annual terms. Analysts had expected growth to cool to 8.3% from Mays 8.6%. Hedge funds and money managers cut their bullish stance in COMEX gold in the week to July 9, the U.S. Commodity Futures Trading Commission (CFTC) said in a report on Friday. Physical gold buying stalled in top Asian hubs last week as consumers sold back bullion to cash in on a steep price rally, while a recent import duty hike further dented waning interest in an Indian market hit by a surge in local rates.

ENERGY- Crude oil may trade on weaker path as oil prices slipped on Monday after China posted its slowest quarterly economic growth in at least 27 years, reinforcing concerns about demand in the world's largest crude oil importer. Refineries in the path of Tropical Storm Barry continued to operate despite flood threats while the storm has slashed U.S. Gulf of Mexico crude output by 73%, or 1.38 million barrels per day. An unwinding of the risk premium from tropical storm Barry, lower oil demand forecasts and a lack of news from the Middle East may have led to a muted oil price reaction. China's economic growth slowed to 6.2% in the second quarter from a year earlier, in line with analysts' expectations, with demand at home and abroad faltering as the Sino-U.S. trade war bites. In the Middle East, Iranian President Hassan Rouhani said in a televised speech on Sunday that Iran is ready to hold talks with the United States if Washington lifts sanctions and returns to the 2015 nuclear deal it quit last year. Chinas June crude oil throughput rose 7.7% year on year to 53.7 million tonnes, the National Bureau of Statistics said on Monday.

BASE METAL - Base metals may trade with sideways path. Three-month copper on the London Metal Exchange edged up 0.1% to $5,939 a tonne, while the most-traded copper contract on the Shanghai Futures Exchange eased 0.1% to 46,620 yuan a tonne. Chinas June unwrought copper imports fell 27.2% from a year earlier to 326,000 tonnes, while copper concentrate imports in June dropped to a six-month low at 1.47 million tonnes, official data showed. Chinese steel futures dropped to their lowest in three weeks on Monday, staying under pressure due to uncertain prospects for demand amid a gloomy outlook for the worlds second-largest economy, and weak production margins. Shanghai nickel prices on Monday surged to their highest in more than 10 months, tracking an overnight rally in London, on concerns that top producer Indonesia will resume an export ban on ore in 2022. Indonesia, which has large nickel laterite ore reserves used to make nickel pig iron for the stainless steel industry, relaxed a ban to export nickel ore in 2017, but said at the time exports of unprocessed ore will be restricted again in 2022. 

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BULLION - Bullion counter may trade on sideways path as some profit booking can be seen at higher levels. Gold prices rose on Friday and were on track for a weekly gain, as worries over renewed U.S.-China trade tensions and expectations of a rate cut by the Federal Reserve boosted demand for the safe-haven metal. Fed Chair Jerome Powell indicated on Thursday that a rate cut is likely at the Feds next meeting as businesses slow investment due to trade disputes and a global growth slowdown. U.S. President Donald Trump said on Thursday that China was not living up to promises it made on buying agricultural products from American farmers. Meanwhile, the dollar index steadied on Friday after falling to near one-week low in the previous session, regaining some traction against its peers on stronger U.S. inflation data. The signs of a pick-up in underlying inflation, along with separate data on weekly jobless claims showing the labour market remained solid, curbed financial market expectations of a more aggressive 50 basis point cut at the Feds July 30-31 meeting.

ENERGY- Crude oil may trade on upside path as oil prices rose on Friday as U.S. oil producers in the Gulf of Mexico cut more than half their output in the face of a tropical storm and as tensions continued in the Middle East. By Thursday, oil companies in the Gulf of Mexico had cut more than 1 million barrels per day (bpd) of output, or 53% of the regions production, due to Tropical Storm Barry. The storm was forecast to become a category one hurricane with at least 74-mile-per hour (119 km-per-hour) winds. Brent crude oil ... extended its gains as storms in the Gulf of Mexico halted production of oil and U.S. oil inventories continued to recede more than expected. Meanwhile, Irans alleged attempt to block a British-owned tanker heightened tensions in the Middle East in the wake of attacks on tankers and the downing of U.S. drone by Iran in June. But a lower 2020 oil demand outlook from the Organization of the Petroleum Exporting Countries kept price gains in check. OPEC said the world would need 29.27 million bpd of crude from its 14 members in 2020, down 1.34 million bpd this year. U.S. natural gas futures fell on Thursday, a day after hitting a five-week high, as midday forecasts called for less hot weather over the next two weeks than previously expected.

BASE METAL - Base metals may trade with sideways path. Industrial metals traded in tight ranges on Friday, as investors exercised caution ahead of a key set of data from top metal player China later in the session. China is due to release its trade data for the month of June later on Friday, including imports and exports figures of key metals. China is the worlds biggest copper consumer and a key user or producer of the majority of the main base metals. U.S. President Donald Trump said on Thursday that China was not living up to promises it made on buying agricultural products from American farmers as the worlds two largest economies work to resolve a trade dispute.

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BULLION - Bullion counter may trade on weaker path as gold prices slipped on Wednesday as higher Treasury yields lifted the dollar, while markets awaited testimony from Federal Reserve Chair Jerome Powell for clarity on an expected U.S. rate cut. The dollar index edged toward a three-week high against a basket of major currencies on Wednesday, as easing bets of deep U.S. interest rate cuts pushed Treasury yields higher. Fed Chair Powell testifies before Congress on Wednesday and Thursday and the direction of the U.S. dollar depends on the tone of his comments. Expectations for a 50 basis point rate cut this month have evaporated, but investors still expect a 25 basis point cut due to weak inflation and trade war worries. Futures are still fully priced for a 25-basis-point cut at the Feds July 30-31 meeting, but have abandoned wagers on a half-point move. They had implied a 25% probability of an aggressive cut before Fridays upbeat jobs report.

ENERGY- Crude oil may trade on upside path as oil prices gained more than 1% in early trade on Wednesday, led by U.S. crude after an industry group reported that U.S. stockpiles fell for a fourth week in a row, alleviating concerns about oversupply. The U.S. and global benchmarks have risen this year as OPEC and big producers like Russia have honored commitments to cut production and support prices. U.S. crude stockpiles fell more than forecast last week, while gasoline inventories decreased and distillate stocks built, data from industry group the American Petroleum Institute (API) showed on Tuesday. Oil prices have been under pressure from concerns about global economic growth amid growing signs of harm from the U.S.-China trade war that has rumbled on over the last year.

BASE METAL - Base metals may trade with positive path. Metals and mining company Nyrstar said on Tuesday that it was extending force majeure at its Port Pirie lead and zinc smelter in Australia until the last week of July, from the second week of this month as previously planned. Shanghai lead hit a two-month high at 16,450 yuan a tonne, while London lead hovered around a one-week high, trading up 0.4% at 0203 GMT. Nickel may test 920 while taking support near 900. London nickel rose as much as 2.1% to $12,970 a tonne, its highest since April 17, while Shanghai nickel jumped to 103,160 yuan ($14,985.69) a tonne, a three-month high. 

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BULLION - Bullion counter may trade on weaker path as gold prices slipped on Wednesday as higher Treasury yields lifted the dollar, while markets awaited testimony from Federal Reserve Chair Jerome Powell for clarity on an expected U.S. rate cut. The dollar index edged toward a three-week high against a basket of major currencies on Wednesday, as easing bets of deep U.S. interest rate cuts pushed Treasury yields higher. Fed Chair Powell testifies before Congress on Wednesday and Thursday and the direction of the U.S. dollar depends on the tone of his comments. Expectations for a 50 basis point rate cut this month have evaporated, but investors still expect a 25 basis point cut due to weak inflation and trade war worries. Futures are still fully priced for a 25-basis-point cut at the Fed�s July 30-31 meeting, but have abandoned wagers on a half-point move. They had implied a 25% probability of an aggressive cut before Friday�s upbeat jobs report.

ENERGY- Crude oil may trade on upside path as oil prices gained more than 1% in early trade on Wednesday, led by U.S. crude after an industry group reported that U.S. stockpiles fell for a fourth week in a row, alleviating concerns about oversupply. The U.S. and global benchmarks have risen this year as OPEC and big producers like Russia have honored commitments to cut production and support prices. U.S. crude stockpiles fell more than forecast last week, while gasoline inventories decreased and distillate stocks built, data from industry group the American Petroleum Institute (API) showed on Tuesday. Oil prices have been under pressure from concerns about global economic growth amid growing signs of harm from the U.S.-China trade war that has rumbled on over the last year.

BASE METAL - Base metals may trade with positive path. Metals and mining company Nyrstar said on Tuesday that it was extending force majeure at its Port Pirie lead and zinc smelter in Australia until the last week of July, from the second week of this month as previously planned. Shanghai lead hit a two-month high at 16,450 yuan a tonne, while London lead hovered around a one-week high, trading up 0.4% at 0203 GMT. Nickel may test 920 while taking support near 900. London nickel rose as much as 2.1% to $12,970 a tonne, its highest since April 17, while Shanghai nickel jumped to 103,160 yuan ($14,985.69) a tonne, a three-month high.

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BULLION - Bullion counter may trade on weaker path as gold prices fell on Tuesday as the dollar held near multi-week highs after investors reduced bets on an aggressive U.S. interest rate cut this month. The dollar index was hovering near a three-week high on Tuesday after investors rolled back expectations for a sharp U.S. rate cut at the end of July. Money market futures are still fully pricing in a 25 basis point cut at the Federal Reserves next policy meeting on July 30-31, but have almost priced out a larger 50 basis point reduction. Fed chief Jerome Powells comments in two-day testimony to Congress beginning on Wednesday will be closely watched to determine whether traders will continue to pare bets for deep interest rate cuts. SPDR Gold Trust, the worlds largest gold-backed exchange-traded fund, said its holdings fell 0.15% to 795.80 tonnes on Monday from 796.97 tonnes on Friday.

ENERGY- Crude oil may trade on subdued path as oil fell on Tuesday amid worries over the outlook for demand after the latest signs that international trade disputes have been dragging on the global economy, although tensions in the Middle East offered some support to prices. Oil fell on Tuesday amid worries over the outlook for demand after the latest signs that international trade disputes have been dragging on the global economy, although tensions in the Middle East offered some support to prices. Oil prices are being pressured by ongoing worries about demand as the U.S.-China trade war, heading into its second year, dampens prospects for global economic growth. Japans core machinery orders fell by the most in eight months, data showed on Monday, in a sign the global trade tensions are taking a toll on corporate investment. U.S. natural gas futures eased on Monday from a five-week high in the previous session with production near record highs and forecasts for lower demand over the next two weeks than previously expected.

BASE METAL - Base metals may trade with sideways path.. Copper prices on the London Metal Exchange fell on Tuesday, on track for a third straight decline, amid a lack of news on steps to settle a prolonged trade dispute between the United States and China. Representatives from the two countries were expected to resume talks this week, but nothing has been released about whether the talks happened or whether progress has been made in resolving the year-long dispute that has hurt demand for metals. China will investigate state-owned metals conglomerate China Minmetals Corp Ltd and chemical producer China National Chemical Corp Ltd in a new round of central government environmental audits, the environment ministry said. 

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Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

For more details call on 9977499927 or visit our website www.capitalstars.com

BULLION - Bullion counter may trade on sideways path. Gold prices eased on Monday, following a sharp fall in the previous session, as a strong U.S. jobs report tempered expectations of an aggressive interest rate cut by the Federal Reserve later this month. Nonfarm payrolls increased by 224,000 jobs last month, the most in five months, the U.S. Labor Department reported on Friday. Expectations for a Fed rate cut narrowed with the market now pricing a 27 basis points easing this month, from 33 basis points prior to payrolls. Domestic gold prices in India jumped to a record on Friday following an unexpected increase in import duty in the country's budget, hitting demand and forcing dealers to offer the highest discount in nearly three years. China's gold reserves rose to $87.27 billion at the end of June from $79.83 billion at the end of May.

ENERGY- Crude oil may trade on stronger path as crude prices rose on Monday, adding to gains in the previous session on better than-expected U.S. jobs data, although gains were tempered by worries over the prolonged Sino-U.S. trade war. Both oil benchmarks fell last week as concerns about a slowing global economy outweighed risks to supply. Brent fell more than 3% and WTI shed more than 1.5%.U.S. job growth rebounded strongly in June, with government payrolls surging, the Labor Departments closely watched employment report showed on Friday, suggesting Mays sharp slowdown in hiring was probably a one-off. Employers added 224,000 jobs last month, the most in five months, the report showed. The lack of concrete progress in resolving the acrimonious trade war between the United States and China, however, means the bar could be very high for the U.S. Federal Reserve not to lower borrowing costs at its July 30-31 policy meeting. Oil received some support from simmering tensions over Iran and after an extension last week to output cuts by OPEC and its allies. U.S. natural gas futures jumped to an over one-month high on Friday as weather forecasts turned hotter, overshadowing a surge in gas production.

BASE METAL - Base metals may trade with sideways to upside path. Copper prices dropped on Monday on inventory pile-up amid a steady dollar after strong U.S. jobs data led to tempered expectations of an aggressive rate cut by the Federal Reserve. Copper inventories in warehouses approved by the London Metal Exchange (LME) touched a near 13-month high at 302,975 tonnes on Thursday, data released last week showed. The differences between cash zinc and three-month contract flipped to a discount of $3 a tonne on Friday after holding in premiums zone in nearly five months, suggesting greater availability of nearby supply. ShFE zinc hit a six-month low of 19,265 yuan a tonne, tracking falls on the LME in the previous session on rising supply concerns. LME zinc, however, rebounded 0.3% after hitting its lowest since Jan. 3 on Friday.

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Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

For more details call on 9977499927 or visit our website www.capitalstars.com