Gold drifted slightly higher in Asia with some attention shifting to a tense Himalayan standoff between India and China who fought a brief, but bloody border war over the territory in 1962. India and China, the world's top two gold buyers, started a standoff two months ago when Indian troops confronted Chinese forces working on a road over the Doklam Plateau, a strategically important area near where Tibet, India and Bhutan meet, and which both China and Bhutan – an ally of India – claim as their own. Overnight, gold prices traded near session highs on Thursday after the minutes of the Federal Reserve’s July meeting showed members were concerned about raising interest rates amid a slowdown in inflation, narrowing investor expectations for a third rate hike later this year. The minutes of the Fed's July 25-26 policy meeting on Wednesday, showed some policymakers believed the Fed could afford to stand pat on further rate increases until it is clear the trend of soft inflation is transitory.
Trevali Mining Zinc Exports Jump in First Half of 2017.
Canada-based Trevali Mining exported some 604,500 tonnes of zinc in the first half of 2017, a growth of 15.2%. Rebar and Wire Rod Inventories Fall for 4 Straight Weeks in Guangdong, SMM Reports. The company has lead-zinc-silver mines in Peru, Canada and Africa. WBMS: World Zinc Deficit Deteriorate Sharply January-June.
SHFE Aluminum to Trade in Wide Range.
LME aluminum will range USD 2,055-2,075/mt today and test support at the 5-day moving average. SHFE 1710 aluminum will move in a wide range of RMB 16,000-16,250/mt. In east China’s spot aluminum market, spot discounts are expected at RMB 240-200/mt over SHFE 1709 aluminum contract.
Oil prices dip amid broader market selloff, despite tightening supplies.
Oil prices dipped on Friday as part of a broad-based selloff across markets, and despite signs that crude markets are gradually tightening. Oil traders said the crude falls came amid a selloff across many other markets, including U.S. and Asian stocks, where investors voted with their feet amid growing scepticism U.S. President Donald Trump, embroiled in controversy, would achieve his economic agenda. The falls came despite signs, especially in the United States, that crude markets were gradually tightening. So far, OPEC and Russian output remains high as some members who have pledged to cut are not complying with their targets. On the demand side, Asia in particular could see some stronger crude orders going into the second half of the year, resulting in a tighter market.
Oil prices dipped on Friday as part of a broad-based selloff across markets, and despite signs that crude markets are gradually tightening. Oil traders said the crude falls came amid a selloff across many other markets, including U.S. and Asian stocks, where investors voted with their feet amid growing scepticism U.S. President Donald Trump, embroiled in controversy, would achieve his economic agenda. The falls came despite signs, especially in the United States, that crude markets were gradually tightening. So far, OPEC and Russian output remains high as some members who have pledged to cut are not complying with their targets. On the demand side, Asia in particular could see some stronger crude orders going into the second half of the year, resulting in a tighter market.
Precious Levels
CS GOLD (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2: 29500
RESIST 1: 29350
SUP 1: 29000
SUP 2: 28850
CS SILVER (SEP) OVERVIEW:
TREND : BULLISH
RESIST 2: 39900
RESIST 1: 39600
SUP1: 38600
SUP2: 38300
Base Metal Levels
CS COPPER (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 425.00
RESIST 1: 421.00
SUP1: 409.00
SUP2: 405.00
CS NICKEL (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 706.00
RESIST 1: 701.00
SUP1: 680.00
SUP2: 675.00
CS ZINC (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 204.00
RESIST 1: 202.00
SUP1: 193.00
SUP2: 191.00
CS LEAD (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 160.00
RESIST 1: 158.00
SUP1: 150.00
SUP2: 148.00
CS ALUMINIUM (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 137.00
RESIST 1: 135.00
SUP1: 129.00
SUP2: 127.00
Energy Levels
CS CRUDE OIL (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 3120
RESIST 1: 3080
SUP1: 2960
SUP2: 2920
CS NATURAL GAS (AUG)OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 194.00
RESIST 1: 191.00
SUP1: 184.00
SUP2: 181.00
CAPITALSTARS
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
CS GOLD (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2: 29500
RESIST 1: 29350
SUP 1: 29000
SUP 2: 28850
CS SILVER (SEP) OVERVIEW:
TREND : BULLISH
RESIST 2: 39900
RESIST 1: 39600
SUP1: 38600
SUP2: 38300
Base Metal Levels
CS COPPER (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 425.00
RESIST 1: 421.00
SUP1: 409.00
SUP2: 405.00
CS NICKEL (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 706.00
RESIST 1: 701.00
SUP1: 680.00
SUP2: 675.00
CS ZINC (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 204.00
RESIST 1: 202.00
SUP1: 193.00
SUP2: 191.00
CS LEAD (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 160.00
RESIST 1: 158.00
SUP1: 150.00
SUP2: 148.00
CS ALUMINIUM (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 137.00
RESIST 1: 135.00
SUP1: 129.00
SUP2: 127.00
Energy Levels
CS CRUDE OIL (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 3120
RESIST 1: 3080
SUP1: 2960
SUP2: 2920
CS NATURAL GAS (AUG)OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 194.00
RESIST 1: 191.00
SUP1: 184.00
SUP2: 181.00
CAPITALSTARSInvestment & 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
Click here for comments 0 comments: