Copper increased by 0.34% to Rs 1097.05 as market sentiment strengthened in response to Citi’s optimistic price forecast and the backing of a depreciating U.S. dollar in anticipation of the forthcoming Fed rate cut. Citi has adjusted its average price forecast for the second quarter of next year to $13,000, with an optimistic scenario projecting Read More
Natural gas experienced a significant decline of 8.01%, settling at Rs 448.9, as forecasts indicated a trend towards milder weather in the upcoming fortnight, thereby diminishing expectations for heating demand. Near-record U.S. output, ample storage levels, and declining global gas prices contributed to the downturn. European nations have affirmed their intentions to phase out Russian Read More
Gold declined by 0.38% to Rs 129,962 as traders adopted a cautious stance in anticipation of the Federal Reserve’s upcoming policy meeting, where a 25 basis points rate cut is nearly fully anticipated, influenced by mixed US employment figures and stable core inflation rates. Markets anticipate additional easing in 2025, as investors look forward to Read More
Aluminium prices experienced a modest increase of 0.27% to Rs 279, although gains were constrained by ongoing apprehensions regarding demand conditions in China, the leading consumer of metals globally. Despite concerns regarding demand, the downside remained limited as Chinese smelters near government-imposed capacity ceilings, thereby constraining supply growth. Aluminium inventories on the SHFE increased by Read More
Crude oil yesterday settled higher by 0.82% at Rs 5427, reflecting the persistent geopolitical tensions, particularly the ongoing Russia-Ukraine conflict and the unresolved standoff between the U.S. and Venezuela. Market sentiment was shaped by Saudi Arabia’s decision to lower its January Arab Light crude prices for Asia to the lowest point in five years, alongside Read More
Gold prices increased by 0.3% to Rs 130,462, influenced by a series of weak US economic indicators that bolstered expectations for a forthcoming Federal Reserve rate cut. The World Gold Council’s latest data further substantiates the trend, indicating that global central banks have intensified their acquisitions, contributing a net 53 tonnes in October—the most robust Read More
Zinc declined by 0.24% to Rs 308.25 as traders realized profits following recent increases attributed to reduced availability in LME-registered warehouses. Earlier sentiment was bolstered by robust eurozone business activity, which grew at its quickest rate in more than two years, coupled with anticipations of a U.S. Federal Reserve rate cut and a weaker dollar. Read More
Natural gas prices decreased by 0.58% to Rs 447.4, as the market’s apprehensions regarding sufficient supplies overshadowed the potential uplift from predictions of colder weather. Pressure continued as U.S. storage levels are approximately 5% above the seasonal average, while decreasing gas prices in Europe and Asia—partly attributed to speculation regarding potential Ukraine peace talks that Read More
Gold prices decreased by 0.29%, concluding at Rs 130,078 as traders realized profits and took a prudent approach in anticipation of the upcoming FOMC meeting next week. Markets are anticipating significant U.S. data releases, notably the postponed September PCE report, which could provide more definitive insights into the Federal Reserve’s policy trajectory. The November ADP Read More
Copper prices experienced a notable increase of 2.82%, reaching Rs 1076.55, propelled by escalating global supply concerns and robust speculative interest within a constricting market environment. Market participants have been reallocating substantial quantities of copper to the United States in anticipation of possible import tariffs, thereby exacerbating supply constraints in other key trading centers. The Read More
Crude oil increased by 0.89% to Rs 5356, buoyed by escalating geopolitical tensions following Russia’s confirmation that discussions with US officials did not yield any agreement regarding a possible peace deal for Ukraine. This setback, along with recent Ukrainian strikes on Russia’s Black Sea oil infrastructure, has rekindled supply-side concerns and introduced a risk premium Read More
The price has retreated from its recent peak near Rs 184,743, signalling the beginning of a corrective move after an extended rally. Initial support is aligned with the 50-hour moving average, which overlaps the 23.6%–38.2% Fibonacci retracement band and is expected to act as a short-term stabilizing zone. The broader trend remains supported by the Read More
Zinc declined by 0.79% to Rs 306, influenced by a stronger dollar, diminished risk appetite, and profit-taking following the recent rally. Market sentiment was shaped by a confluence of mixed global fundamentals. The global zinc market surplus contracted to 20,300 tons in September, down from 32,700 tons in August, as reported by ILZSG, suggesting a Read More
Natural gas prices increased by 1.25% to Rs 438.9, bolstered by forecasts of colder weather and a more significant-than-anticipated withdrawal from storage, both of which enhanced market sentiment. The ambiguity surrounding the Russia–Ukraine peace talks has introduced additional upside risk, with market participants anticipating that sanctions on Russian gas exports could remain in place, thereby Read More
Gold prices experienced a decline of 0.68%, settling at Rs 1,29,759, as traders opted to realize profits following the metal’s ascent to a six-week peak. The correction occurred against a backdrop of robust expectations for a 25 basis points reduction in the U.S. Federal Reserve’s interest rate next week, with market participants assigning an 88% Read More
Copper experienced an increase of 1.34%, reaching Rs 1050.25, driven by constricted supply dynamics and a weaker US dollar, which enhanced purchasing activity. Supply-side constraints continue to play a pivotal role in the market’s robustness, as Chile — the leading global producer — has indicated a 7% year-on-year decline in October production, totaling 458,405 metric Read More
Crude oil ended the day unchanged at Rs 5,324, as market participants processed the results of the recent OPEC+ meeting alongside a consistent flow of supply-related information from both US and international agencies. OPEC+ has reaffirmed its decision to maintain the current production levels for the first quarter of the upcoming year, thereby extending the Read More
Gold concluded the session with a 0.89% increase, reaching Rs 130,652, buoyed by rising anticipations regarding a potential interest rate cut by the US Federal Reserve in the upcoming week. A succession of dovish remarks from Federal Reserve officials, alongside lackluster US economic data following the extended government shutdown, has bolstered market expectations, with traders Read More
Aluminium prices experienced an increase of 0.96%, reaching Rs 273.05, bolstered by heightened expectations regarding a potential rate cut by the U.S. Federal Reserve in December, following dovish remarks from policymakers. Market sentiment also strengthened as concerns grew regarding Chinese smelters nearing government-imposed capacity ceilings, which restrict further output expansion. Supply constraints were underscored by Read More
Natural gas prices increased by 3.05% to Rs 425.7, bolstered by heightened demand expectations and vigorous LNG export activity. In November, U.S. LNG terminals experienced record flows, averaging 18.1 bcfd, compared to 16.6 bcfd in October, which bolstered market sentiment. Forecasts indicating colder-than-normal weather through December 11 have led to an increase in heating demand Read More
