CAPITALSTARS MCX COMMODITY COPPER NEWS UPDATE : :13 August 2019

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Base Metals Preview: Copper Flat, MCX Futures End Around Rs 445 Level 
COMEX Copper futures yet again edged up near one week high of 2.61 per pound before easing a little. The sentiments in global markets remain tepid after the US President Donald Trump downplayed the scheduled September meeting with China and China's central bank set the official midpoint reference for the yuan at a stronger-than-expected level. Italian bond yields also slipped from five-week highs, easing some concerns regarding the country's financial health. However, risk appetite went for a toss in the US session as the DOW tumbled around 1.5%. COMEX Copper holds at 2.58 per pound, flat on the day. MCX Copper futures ended at Rs 445 per kg, almost unchanged on the day in last session amid these cues.

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CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : : 13 August 2019

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Precious Metals Preview: Gold Approaches 1530 Per Ounce In Asia 
COMEX Gold jumped to fresh seven year highs amid continued jitters on global trade and broad economic worries. The economic outlook has deteriorated worldwide as the trade dispute between the United States and China escalates, a survey showed on Monday. Germany’s Ifo economic institute said its quarterly survey among nearly 1,200 experts in more than 110 countries showed that its measures for current conditions and economic expectations have both worsened in the third quarter.
The ifo World Economic Climate indicator fell from -2.4 to -10.1 points in the third quarter. Both the assessment of the current situation and expectations dropped significantly. The intensification of the trade conflict is having a considerable detrimental effect on the world economy. The experts expect significantly weaker growth in world trade. Trade expectations are at their lowest level since the outbreak of the trade conflict last year. Respondents also expect weaker private consumption, lower investment activity, and declining short- and long-term interest rates.
COMEX Gold pushed up near 1530 per ounce and currently trades at 1527 per ounce, up 0.60% on the day. MCX Gold closed up 0.67% at Rs 38246 per 10 grams after hitting a high near Rs 38350 mark.


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CAPITALSTARS MCX COMMODITY CRUDE OIL NEWS UPDATE : 09 August 2019

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Energy Preview: Crude Jumps 1% On MCX 
Crude oil futures eased a little in Asia amid demand concerns after a sharp recovery yesterday and currently trade at 52.42 per barrel, down 0.20% on the day. MCX Crude ended up 1.43% at Rs 3693 per barrel in last session. The US Energy Information Administration (EIA) noted in a latest monthly update that Brent crude oil spot prices averaged 64 per barrel (b) in July, almost unchanged from the average in June 2019 but 10/b lower than the price in July of last year. EIA forecasts Brent spot prices will average 64/b in the second half of 2019 and 65/b in 2020. The forecast of stable crude oil prices is the result of EIA's expectations of a relatively balanced global oil market. EIA forecasts global oil inventories will increase by 0.1 million barrels per day (b/d) in 2019 and 0.3 million b/d in 2020.
The EIA expects West Texas Intermediate (WTI) crude oil prices will average 5.50/b less than Brent prices during the fourth quarter of 2019 and in 2020, narrowing from the 6.60/b spread during July. The narrowing spread reflects EIA's assumption that crude oil pipeline transportation constraints from the Permian Basin to refineries and export terminals on the US Gulf Coast will ease in the coming months. In the July STEO, EIA forecast the Brent-WTI spread to average 4.00/b in 2020. The updated differential forecast reflects EIA's revised assumptions about the marginal cost of moving crude oil via pipeline from Cushing, Oklahoma, to the Gulf Coast.


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CAPITALSTARS MCX COMMODITY COPPER NEWS UPDATE : : 09 August 2019

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Base Metals Preview: Copper Hits One Week High 
 COMEX Copper edged up for a third session yesterday as a recovery from 2 year low extended amid rising US equities. Arrivals of unwrought copper, including anode, refined and semi-finished copper products into China, the world's top copper consumer, stood at 420,000 tonnes last month, the General Administration of Customs said, up from 326,000 tonnes in June though it was down 7.1% from July 2018. The metal hit one week high of 2.61 per pound and currently trades at 2.59 per pound, flat on the day. MCX Copper ended flat at Rs 442.40 per kg on a recovery in the Indian Rupee capped gains.

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CAPITALSTARS MCX COMMODITY CRUDE OIL NEWS UPDATE : 08 August 2019

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Energy Preview: EIA Crude Inventories Up 4% Compared To 5 Year Average 
The US crude oil inventories increased during the week ending August 2, the US Energy Information Administration (EIA) said in a report on Wednesday. According to the Weekly Petroleum Status Report of the EIA, US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased by 2.4 million barrels from the previous week. At 438.9 million barrels, US crude oil inventories were about 2% above the five-year average for this time of year. According to the EIA, total motor gasoline inventories rose by 4.4 million barrels last week and were about 4% above the five-year average for this time of year. Finished gasoline and blending components inventories both increased last week. Distillate fuel inventories increased by 1.5 million barrels last week and were about 1% below the five-year average for this time of year. Propane/propylene inventories increased by 2.9 million barrels last week and were about 8% above the five-year average for this time of year. Total commercial petroleum inventories increased by 10.4 million barrels last week.


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CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : : 08 August 2019

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Precious Metals Preview: Gold Breaks Above Rs 38000 Mark On MCX  
COMEX Gold futures eased in Asia after soaring to fresh seven year highs as sentiments remained cautious in world markets and global bond yields slipped sharply. US 10 year treasury yields slumped near to 1.60% - near three year low. Global yields turned lower as central banks are initiating aggressive interest rate cuts. New Zealand's central bank reduced its key rate by 50 basis points to 1% while Thailand's central bank cut its key interest rate by a quarter point as well. The Monetary Policy Committee (MPC) of the RBI decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 35 basis points (bps) from 5.75% to 5.40% with immediate effect. COMEX Gold broke above $1500 per ounce amid the slide in US treasury yield and hit a high of $1520 per ounce. The metal currently trades at $1512 per ounce, down 0.50% on the day. MCX Gold futures hit a fresh high of Rs 38488 per 10 grams and closed at Rs 38207 per 10 grams, up 1.89% on the day. The metal could ease further today as Bitcoin values are up 3% at $12030. Equities are mostly up in Asia as well.

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CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : : 07 August 2019


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Precious Metals Preview: Gold Hits 1500 Per Ounce August 07,2019  
COMEX Gold stayed supported after a ferocious run saw it hit seven year high just above 1500 per ounce. The metal currently trades at 1498 per ounce, up 1% on the day. Meanwhile, the MCX Gold futures recovered from lows near Rs 36900 per 10 grams and closed up 0.42% at Rs 37500 per 10 grams. There are some concerns over local Gold demand given the spurt in spot prices to all time high around Rs 36800 level. India's gold imports in July fell 55% from year ago to the lowest level in nearly three years. India imported around 39.66 tonnes of gold in July, down from 88.16 tonnes a year ago, media reports noted yesterday.

However, global demand has been broadly buoyant in recent months. The global Gold demand was 1,123t in Q2, up 8% y-o-y. H1 demand jumped to a three-year high of 2,181.7t, largely due to record-breaking central bank purchases, noted the World Gold Council (WGC) in its latest Gold Demand Trend update. Central bank buying and healthy ETF inflows were the driving forces behind gold demand throughout the first half of 2019. Growth in H1 jewellery demand was largely the product of a more positive environment for Indian consumers.

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