Zinc dropped on profit booking ahead of the release of data that is expected to show China’s economic growth- 18 Jan 2018

Commodity Intraday Tips
Gold Prices Fall In Asia On Profit Taking, Mild Dollar Rebound
Gold prices fell in Asia on Thursday in profit taking and after a mild dollar rebound  overnight. Overnight, gold prices remained close to four-month highs on Wednesday amid expectations the precious metal would likely ‘shrug off’ rate hike worries while dollar weakness limited downside. In a rising interest rate environment, investor appetite for gold weakens as the opportunity cost of holding the precious metal increases relative to other interest-nearing assets such as bonds.

Copper prices dropped as traders locked in profits ahead of Lunar New Year.
Copper on MCX settled down -1.26% at 450.75 on fresh selling resumed its decline as some speculators took profits from a December rally and others went short after prices broke below technical levels. Copper surged 12 percent during its December rally and has since eased back by about 3 percent. Prices turned weak as uncertainty about supply in the market because of Chinese import restrictions on copper scrap and labour contract talks at several mines, including the huge Escondida mine. Pressure also seen after the report that  futures brokerage Gelin Dahua has cut its long position on the Shanghai Futures Exchange (ShFE) April copper contract by 75 percent over the past two days, according to Reuters calculations based on ShFE data.

Zinc dropped on profit booking ahead of the release of data that is expected to show China’s economic growth  slowed in the fourth quarter.
Zinc on MCX settled down -1.14% at 217.40 as prices failed to hold 220 level on MCX and prices were under pressured after Chinese iron ore futures fell for a fifth day running to 2-1/2 week lows. Prices have been pressured by low demand in the world‘s biggest consuming nation amid ongoing curbs on steel production in a campaign against smog. Zinc had the largest speculative net long position on the LME with 18.5 percent of open interest as of Friday. Meanwhile Zinc premiums remained stable across global markets, with the backwardation in London Metal Exchange zinc spreads and high prices choking interest, while the premium for 99.99% lead ingots in the United States saw the first adjustment in four months.

Oil up on threats of rebel attacks in Nigeria, falling US crude stocks
Oil prices rose on Thursday on a reported decline in U.S. crude inventories, and as rebels in Nigeria threatened to attack the country's petroleum infrastructure. However, prices stayed below recent three-year highs as fuel supplies remain ample and as refineries scaled back operations.Traders said prices had been pushed up after reports that Nigeria's militant group Niger Delta Avengers threatened to launch attacks on the country's oil sector in the next few days. Markets were also supported by a drop in available crude inventories. "Prices ... rallied on the back of noticeable de-stocking of crude inventories," said Fawad Razaqzada, market analyst at future brokerage Forex.com. 

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


1 comment:

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