GIVE MISS CALL ON :- +91 99774 99927

CAPITALSTARS – MCX COMMODITY NEWS – GOLD PRICES WERE STEADY ON FRIDAY – 10 May 2019

c805a6c9-f6c9-4ce4-acde-e0bcb6666334

Daily Metal and Energy Outlook 10th May

BULLION – Bullion counter may trade on sideways bias as gold prices were steady on Friday, buoyed as investors shied away from riskier assets amid worries that a rift over trade between the United States and China could deepen if talks between the two fail to reach a deal. Top U.S. and Chinese trade negotiators concluded the first of two days of talks on Thursday to rescue a trade deal that is close to collapsing as Washington prepares to go ahead with plans to hike tariffs on hundreds of billions of dollars of goods imported from China. South Africa�s gold output fell 17.7 percent year-on-year in March compared to a contraction of 20.6 percent in February, Statistics South Africa said.

ENERGY- Crude oil may trade with sideways to upside bias as U.S. oil prices rose on Friday on renewed optimism that a trade deal between Washington and Beijing could be struck, as investors have feared that a protracted tariff war would harm global economic growth. The trade optimism comes amid efforts by the Organisation of Petroleum Exporting Countries to crimp supply, as well as expectations that demand will rise. The U.S. Energy Information Administration expects global oil demand to rise by 1.4 million barrels per day (bpd) this year. U.S. natural gas futures eased on Thursday following the release of a federal report showing a bigger-than-usual weekly storage build. Even before the U.S. Energy Information Administration (EIA) issued the storage report, however, traders noted prices were down with an expected increase in output despite forecasts for a small increase in heating demand next week and near-record liquefied natural gas (LNG) exports.

BASE METAL – Base metals prices may trade with upside bias. Prices of copper and most other industrial metals rose on Friday, as investors looked to some signs of easing trade tensions between the United States and China, which have been threatening economic growth. China appealed to the United States to meet it halfway to salvage a deal that could end their trade war, after U.S. President Donald Trump ordered a tariff hike in response to China revising a draft deal and weakening commitments. Investors were also relieved that Chinese Vice Premier Liu He went to Washington to conduct talks with U.S. officials as scheduled, after worries arose earlier in the week that he would not come. China’s construction rebar futures drifted higher on Friday, following a broader rally across assets, as investors hoped that the U.S. and China get closer to a trade deal.

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 cperformance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.
best commodity advisory in india, Best MCX tips, Capitalstars Video Gallery, commoditiestips, commodity market tips, commodity tips, commodity trading tips, Copper Tips, Crude oil tips

Leave a Reply

Checking...

Ouch! There was a server error.
Retry »

Sending message...

FREE TRIAL REQUEST


CapitalStars FORUM