GIVE MISS CALL ON :- +91 99774 99927


CS MCX Commodity Evening mkt updates


Gold recovered on Thursday from a three-week low hit in the previous session as the recent drop in metal prices and an easing of the U.S. dollar from multi-month highs stoked buying. Spot gold XAU= was up 0.8 percent at $1,222.41 per ounce, at 0744 GMT, after falling for three sessions in a row. Gold touched its lowest since Oct. 11 at $1,211.52 per ounce on Wednesday. Investors are wary of a potential saturation in currencies ahead of the U.S. mid-term elections and amid other geo-political uncertainties, said Brian Lan, managing director at Singapore dealer GoldSilver Central. A stronger dollar makes dollar-denominated bullion more expensive for users of other currencies. In the wider markets, battered equity investors got Asia off to a positive start for November, as Thursday’s session benefited from another strong performance on Wall Street. Spot gold may bounce moderately to $1,224 per ounce before retesting a support at $1,211, said Reuters technical analyst Wang Tao. global demand for gold rose slightly in the third quarter compared with the same period a year ago as resurgent buying from central banks and retail consumers balanced huge outflows from exchange traded funds, World Gold Council said on Thursday.


Oil prices fell on Thursday to extend losses from the previous session, pressured by signs of rising supply and by growing concerns that demand may weaken on the prospect of a global economic slowdown. Both benchmarks posted their worst monthly performance since July 2016 on Wednesday, with Brent down 8.8 percent for the month and WTI shedding 10.9 percent. Thursday’s drops came after U.S. Energy Information Administration data showed U.S. crude inventories last week climbed for a sixth straight week. strong build in oil inventories is likely to keep downward pressure on oil prices,” ANZ Research analysts said in a note. Meanwhile, a Reuters survey found the Organization of the Petroleum Exporting Countries (OPEC) boosted oil production in October to its highest since 2016, as higher output led by the United Arab Emirates and Libya more than offset a cut in Iranian shipments due to U.S. sanctions, set to start on Nov. 4. President Donald Trump said on Wednesday in a presidential memorandum that he had determined there was sufficient supply of petroleum and petroleum products from nations other than Iran to permit a reduction in purchases from that country. concerns over the prospect of a global slowdown amid the ongoing U.S-China trade war were also weighing on prices, said Bruce Xue, an analyst with Huatai Great Wall Capital Management.

CapitalStars Provides  Free Trial To Our Client…

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.

Leave a Reply


Ouch! There was a server error.
Retry »

Sending message...


CapitalStars FORUM