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CapitalStars MCX NEWS Gold prices rose to their highest level in nearly six-years on Tuesday UPDATE on -25 JUNE 2019

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BULLION – Bullion counter may continue upside rally as gold prices rose to their highest level in nearly six-years on Tuesday as the dollar sat near multi-month lows and the announcement of fresh U.S. sanctions on Iran boosted interest in the safe-haven metal. U.S. President Donald Trump targeted Iranian Supreme Leader Ayatollah Ali Khamenei and other top Iranian officials with sanctions on Monday, taking a dramatic, unprecedented step to increase pressure on Iran after Tehran’s downing of an unmanned American drone. U.S. Treasury yields fell on Monday, holding just above almost three-year lows, ahead of trade talks between the U.S. and China later this week. Trump again criticized the Federal Reserve on Monday for not cutting interest rates, keeping up his pressure on the central bank to change its policies. Trump is slated to meet one-on-one with at least eight world leaders on the sidelines of the G20 summit in Osaka, Japan, later this week, a senior U.S. administration official said on Monday.

ENERGY– Crude oil may trade on sideways path oil prices were steady on Tuesday, supported by worries over conflict between Iran and the United States but pressured by concerns about a potential decline in demand for crude. Brent rose 5% last week and U.S. crude surged 10% after Iran shot down a U.S. drone on Thursday in the Gulf, adding to tensions stoked by attacks on oil tankers in the area in May and June. Washington has blamed the tanker attacks on Iran, which denies having any role. U.S. President Donald Trump targeted Iranian Supreme Leader Ayatollah Ali Khamenei and other top Iranian officials with sanctions on Monday, taking an unprecedented step to increase pressure on Iran after Tehran downing of the drone. Supply is expected to remain relatively tight, as the Organization of the Petroleum Exporting Countries and its allies including Russia, an alliance known as OPEC+, appear likely to extend a deal on curbing output when they meet on July 1-2 in Vienna. U.S. natural gas futures rose on Monday as investors covered short positions on expectations of above normal summer temperatures, but a surge in gas production kept prices in check.

BASE METAL – Base metals may trade with sideways bias. Senior Chinese and U.S. trade officials spoke by telephone on Monday ahead of talks between Chinese President Xi Jinping and U.S. President Donald Trump set for late June, China Ministry of Commerce said in a statement on Tuesday. Copper prices rose on Tuesday, amid worries over supply, after thousands of workers of Chile Codelco rejected the company offer during the weekend and extended the strike at a major mine. Workers at Chuquicamata, one of the worldâ biggest copper mines, have been on strike since mid-June to demand better healthcare and retirement benefits, hurting output of state-run Codelco, the worldâ top copper producer. The U.S. Commerce Department has agreed to Tesla Inc request to waive 10% tariffs on imported aluminium from Japan used in the manufacture of battery cells at Tesla Nevada Gigafactory.

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