Natural gas prices experienced a decline of 0.79%, settling at Rs 399.6 per mmBtu. This decrease is attributed to near-record production levels in the U.S. and substantial storage capacities, despite the presence of strong demand and unprecedented flows to LNG export facilities. The average gas production in the Lower 48 states reached 109.1 bcfd in Read More
Silver prices have slipped below $50, extending a multi-day losing streak as expectations solidify that the Federal Reserve will keep interest rates unchanged in December. Despite strong hiring reflected in the latest NFP release, the U.S. unemployment rate has climbed to its highest level in four years. With October employment data now being merged into Read More
Zinc prices experienced a slight increase, closing 0.28% higher at Rs 301.95, bolstered by consistently constrained LME inventories and a modest rebound in physical premiums. Nonetheless, the potential for growth appeared constrained as disappointing economic indicators from China dampened demand sentiment, while the anticipation of a U.S. rate cut in December diminished. Several Federal Reserve Read More
Natural gas futures experienced a significant increase, climbing 4.68% to Rs 402.8, bolstered by a transition to colder weather forecasts as early December approaches. The recent European model has incorporated increased heating demand for late November and early December, leading to a resurgence in purchasing activity following several days of upward adjustments. Despite winter weather Read More
Gold prices experienced a modest increase, closing 0.34% higher at Rs 123,051 as investors turned to safe-haven assets in anticipation of the forthcoming Federal Reserve meeting minutes and the postponed US jobs report. The minutes revealed a split within the Federal Reserve, as a number of officials advocated for a rate cut in October, while Read More
Copper prices declined by 0.72% to Rs 995.45, influenced by a robust U.S. dollar amid ongoing uncertainty regarding the Federal Reserve’s potential rate cuts in December. The attention now turns to the postponed September payrolls data, which may impact policy direction. In a further indication of bearish sentiment, LME copper inventories increased by 4,450 tonnes Read More
Crude oil prices increased by 0.75% to Rs 5,360, buoyed by a resurgence in demand expectations after the conclusion of the U.S. government shutdown, which enhanced sentiment regarding short-term energy consumption. Supply-side risks experienced a temporary escalation following a Ukrainian strike that interrupted activities at Russia’s Novorossiysk port; however, loading operations have since returned to Read More
Gold prices experienced a decline, closing 0.23% lower at Rs 122640, amid diminishing expectations for a reduction in US interest rates. The lack of crucial US economic data in recent weeks, along with the hawkish indications from various Federal Reserve officials, has notably diminished expectations for a rate cut in December. Fed Vice Chair Philip Read More
Aluminium prices experienced a decline of 1.35%, settling at Rs 266.85, influenced by lackluster macroeconomic indicators from China and diminishing expectations regarding a rate cut by the U.S. Federal Reserve. In October, China’s primary aluminium production reached 3.8 million tonnes, reflecting a year-on-year increase of 0.4%. However, this figure represents a 9% decline from September, Read More
Natural gas prices experienced a decline of 1.27%, settling at Rs 395.3, influenced by milder short-term weather conditions that diminished immediate heating demand. The market responded to unprecedented U.S. output, as production in the Lower 48 states reached 109 bcfd in November, marking a record high. This surge has led to ample storage levels, which Read More
Gold prices declined by 0.51% to Rs 1,22,927, influenced by diminishing expectations for an imminent rate cut by the U.S. Federal Reserve and a decrease in physical demand in Asian markets. The likelihood of a December Fed rate cut has decreased significantly to 46%, a decline from 67% observed last week, as persistent inflation and Read More
Copper yesterday settled 0.55% lower at Rs 1008.5, influenced by disappointing Chinese economic data and diminishing expectations for a U.S. Federal Reserve rate cut this year. China’s factory output and retail sales experienced their slowest growth in more than a year, raising fresh concerns regarding demand in the world’s largest copper consumer and intensifying the Read More
Crude oil yesterday settled 2.18% higher at Rs 5342, bolstered by renewed supply concerns following the suspension of oil exports from the Black Sea port of Novorossiysk, which was triggered by a Ukrainian drone strike that inflicted damage on an oil depot, a vessel, and adjacent infrastructure. The assault, resulting in injuries to crew members Read More
Gold experienced a significant decline yesterday, settling down by -2.52% at Rs 123561, influenced by a series of hawkish remarks from U.S. Federal Reserve officials that tempered expectations for a rate cut in December. Despite the U.S. government reopening following a notable 43-day shutdown, uncertainty remains as the release of October unemployment data is in Read More
Zinc experienced a modest increase, closing up by 0.11% at Rs 305.7, as inventories on major exchanges persisted in their downward trend, offering fundamental support. LME-registered stocks have decreased to 35,875 tons, marking the lowest level since February 2023, whereas SHFE inventories have declined to 100,208 tons, reflecting an 8% reduction over the past fortnight. Read More
Natural gas experienced a notable increase of 3.94%, reaching Rs 413.8, as market participants adjusted their positions in anticipation of a possible cold spell in December and heightened demand from the power sector, even in the face of forecasts suggesting milder temperatures in the coming week. Rising LNG export activity has significantly influenced market sentiment, Read More
As a result of the price continuing to be higher than the 50-day moving average, a more general optimistic framework is being maintained, and following the assessment of the upper Fibonacci resistance level, which was located at Rs 170,400, a little retracement has been detected. A possible weakening of short-term momentum following the recent surge Read More
Copper prices increased by 0.51% to close at Rs 1013.4, buoyed by optimism regarding a possible resolution to the U.S. government shutdown and anticipated improvements in demand sentiment from China. Nonetheless, apprehensions persisted regarding diminished Chinese bank lending and a deceleration in total social financing, which dampened market optimism. Production data on the supply side Read More
Crude oil prices experienced a notable decline of 3.79%, concluding at Rs 5,198, as renewed concerns regarding an oversupplied global market exerted pressure. The decline was influenced by indications that OPEC+ members are progressively reinstating production capacity, while non-OPEC producers, especially in the U.S. and Brazil, are increasing their output levels. These developments have heightened Read More
Gold prices surged 2.06% to settle at Rs 1,26,465, driven by increasing expectations of an imminent Federal Reserve rate cut, as indications of a cooling U.S. labor market bolstered the argument for monetary easing. Data indicating that U.S. companies are eliminating an average of 11,250 jobs per week as of late October has intensified speculation Read More
