Gold Prices Gain Amid Weaker Dollar - Gold prices gained on Wednesday as dollar
weakened after the U.S. slapped tariffs on $50 billion worth imports from
China. Trading tensions were cited as a catalyst for the buying as investors
stayed away from risk assets. The Trump administration proposed on Tuesday to
impose 25% tariffs on nearly $50 billion worth of made-in-China products -
around 1,300 industrial technology, transport and medical products to be
particular. Dollar-denominated assets such as gold are sensitive to moves in
the dollar – a fall in the dollar makes gold cheaper for holders of foreign
currency and thus increases demand for the precious metal. More directional
drivers for the dollar this week will be the U.S. payrolls data and comments by
Federal Reserve Chairman Jerome Powell.
Zinc smelters operating rates to
dip further in Apr - The operating rates of Chinese zinc smelters are likely to dip further
in April, following a 2.14-percentage-point month-on-month drop in March, an
SMM survey showed. This is because more smelters are expected to carry out
maintenance this month although some will resume normal operations. The
operating rate in March stood at 72.31%, according to the SMM survey. Zinc
output was down over 10,000 mt from February due to maintenance work.
Copper
prices gained supported by stronger-than-expected manufacturing growth in China - Copper on MCX settled up 0.3% at 440.45 traded
in the range while prices continuous to hold 440 level as investors bought on
expectations the escalating trade dispute between China and the United States
would not undermine flows of metal. Meanwhile the US dollar index climbed up
and depressed copper prices following a release by the US of $50 billion of
imports from China that could be subject to sweeping tariffs. The picture was
not quite as rosy among smaller to mid-size Chinese companies, where
manufacturing activity expanded at its weakest pace in four months as export
demand faltered. Investor worries over a tit-for-tat trade spat between the
United States and China were likely to fade out.
Oil
Prices Fall On Rising Russian Output And Geopolitical Tensions - Oil prices fell on Wednesday morning in Asia
amid rising Russian production and expectations that Saudi Arabia will cut
prices of the crude it sends to Asia.There are speculations that Saudi Arabia
will cut prices for all crude grades it sells to Asia in May to reflect weaker
prices for its Middle East benchmark Dubai crude. Also putting pressure on oil
markets is the rising supply. Despite the production cut agreement with the
Organization of the Petroleum Exporting Countries (OPEC), top producer Russia
pumped 10.97 million barrels per day (bpd) of crude in March, up from 10.95
million bpd in February, an 11 month high. Tensions between U.S. and Iran are
supporting oil markets. U.S. President Donald Trump threatened to pull out of a
2015 international nuclear deal with Tehran under which Iranian oil exports
have risen.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
Click here for comments 1 comments:
Jika anda ingin memperoleh kemenangan mudah pada permainan Slot Games, disarankan untuk segera mendapatkan dan menggunakan Aplikasi Cheat Slot Games.