Gold edges slightly lower in Asia as apparent U.S. debt deal eyed - 7 Sep 2017

Commodity Intraday Tips
Gold edges slightly lower in Asia as apparent U.S. debt deal eyed - 
Gold prices fell slightly in Asia on Thursday with an apparent deal to raise the U.S. debt ceiling until Dec. 15 in focus, though investors noted that President Trump's willingness to work with Democrats on the extension has riled hard-line Republican leaders. Overnight, gold prices fell on Wednesday, as U.S. political uncertainty eased after President Donald Trump agreed to raise the debt ceiling and extend government funding through Dec. 15. Gold prices retreated from a one-year high pressured by a rebound in the dollar on news that President Donald Trump agreed on Wednesday that Congress should pass an extension of the U.S. debt limit and raise the debt ceiling, which caps how much money the U.S. government can borrow. The deal included working with the Democratic leadership as part of an effort to ensure funds are available to help rebuild after Hurricane Harvey. Losses in gold, however, remained limited as expectations on additional U.S. rate increases faded, following comments from Federal Reserve officials urging the U.S. central bank to consider shelving its plan to hike rates later this year amid a slowdown in inflation. 

US Anti-Dumping & Anti-Subsidy Measures Greatly Hurt China Aluminum Foil Plants, and More - 
The 7th SMM Tin Value Chain Summit opens on September 7. Anti-dumping and anti-subsidy measures launched by the US significantly impact Chinese aluminum foil producers. Rare earth market fell into wait-and-see attitude. Philippine nickel ore exports stayed high in August. China refined nickel output grew 2.2 per cent MoM in August. NDBC enhanced regulations on self-owned power plants.

LME Zinc to See Range-Bound Trading - 
LME zinc met resistance from the 10-day moving average and lacked upward ability. LME zinc is expected to move between USD 3,085-3,125/mt today. Eurozone Q2 GDP and European Central Bank interest rate decision are expected to remain flat, meaning continuous recovery in the eurozone.

Crude oil prices ease in Asia after API build less than expected - 
Crude oil prices dipped in Asia on Thursday after a weaker than expected API build in crude oil invetories failed to lift sentiment with Hurricane Irma approaching the U.S. East Coast and recovery eforts still underway in the aftermath of Hurricane Harvey. Overnight, oil prices settled higher for a third day in a row on Wednesday, as demand for crude returned from restarted Gulf Coasts refineries following disruptions to U.S. refining capacity due to Storm Harvey. Crude oil settled at a four-week peak as concerns over a big drop in crude demand subsided following an uptick in the number of U.S. refineries restarting operations after Harvey knocked out more than quarter of refining capacity last week. Meanwhile the development of Storm Irma, which made landfall in the Caribbean earlier on Wednesday, continued to garner investor attention, as the Category 5 storm could knock out other refineries and add to concerns over fuel shortages. 

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
Visit Here-  

1 comment:

  1. Profitable Commodity Tips
    Rudra Investment SEBI Registered Profitable Commodity Tips Expert gives the best information of mutual fund investment. Information that may not be included in a fund's prospectus is its annual report.