GIVE MISS CALL ON :- +91 99774 99927



Daily Metal and Energy Outlook 16th May

BULLION – Bullion counter may trade on volatile path an uptick in equities offset support from doubts over trade talks between the United States and China. Asian shares steadied on Thursday on news that U.S. President Donald Trump is planning to delay tariffs on auto imports, providing much needed relief to markets hit by a flare-up in trade tensions and on weak U.S. and Chinese economic data. President Trump is expected to delay a decision on imposing tariffs on imported cars and parts by up to six months, three Trump administration officials told Reuters, avoiding opening yet another front in his global trade battles. Meanwhile, U.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel to Beijing soon to continue negotiations with Chinese counterparts as the world two biggest economies try to salvage talks aimed at ending their months long trade war. China Gold International first quarter gold production fell 5% to 44,023 ounces from 46,264, the company reported on Wednesday.

ENERGY- Crude oil may trade with upside bias as oil prices edged up on Thursday to extend gains into a third straight session, as tensions in the Middle East stoked fears of potential disruptions to supply. Oil was drawing support from heightened tensions in the Middle East, with helicopters carrying U.S. staff from the American embassy in Baghdad on Wednesday out of apparent concern about perceived threats from Iran. Crude oil may take support near 4300 and can test 4450 .U.S. crude inventories rose unexpectedly last week to their highest since September 2017, while gasoline stockpiles decreased more than forecast, the Energy Information Administration (EIA) said. Crude stocks swelled by 5.4 million barrels, surprising analysts who had expected a decrease of 800,000 barrels. Natural gas may dip lower as it can test 180 while taking resistance near 188. U.S. natural gas futures on Wednesday fell from a four-week high in the previous session on forecasts for heating demand to decline over the next two weeks and expectations that a federal report will show a much bigger-than-usual storage build on Thursday.

BASE METAL – Copper and most other base metals fell on the London Metal Exchange on Thursday, as investors remained cautious after weaker-than-expected Chinese retail sales and industrial output data. The figures for April largely pointed to a loss of momentum, after surprisingly upbeat March readings had raised hopes the economy was slowly getting back onto a firmer footing and would require less policy support. State miner Codelco, the world’s top copper producer, said on Wednesday that it has agreed on a new labour contract with the union of supervisors at its small Salvador mine in northern Chile. Alumina prices in northern China touched their highest in almost five months on Wednesday as production shutdowns in Shanxi province left the market fearing a supply shortage. Mexico is close to resolving its dispute with the United States over steel and aluminium tariffs without quotas but hopes Canada can reach a similar agreement before completing it, a senior Mexican official said on Wednesday.

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


Ouch! There was a server error.
Retry »

Sending message...


CapitalStars FORUM