IIFL Wealth Management Ltd
Published on 13/12/2017 2:35:37 PM

Non-ferrous metal

In the Non-ferrous Space, Several Market Participants Endorsed A Mixed 2018 Outlook On The Metals, With Goldman Saches Bullish On Copper , While Bearish On Aluminium citing Supply To Rise. Conversely, Morgan Stanley Is relatively Bullish On The Aluminum And Bearish On Copper. Meanwhile, Barclays Stated That Copper Prices Above US$7,000/ton Looks Too Expensive, While Anything Below US$6,000/ton Looks Too Cheap.

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IIFL Wealth Management Ltd
Published on 13/12/2017 2:34:32 PM

Gold 

Gold prices dipped to a five-month low Of US$1238/oz at One Point Of Time, as markets remained apprehensive of how fed perceives about the interest rate trajectory. although a december rate hike is very much factored in, the call on the number of rate hikes varous, with the dot plot markets will also keep an eye on the ECB and BOE policy meeting this week, where the possibility of a tilt toward a tighteninig bias cannot be ruled out given the improving economic fundamentals in europe and higher infaltion in UK. The Prevalent Backdrop of policy normalisation is certainly not supportive for the yellow metal. On geopolitical front as well, tillerson indicated that US Is Willing To Commence Direct Talks With north Korea Without Any Strings Attached, Quite A Departure From The Earlier Pre-condition That Pyongyangfirst embarks  on nuclear disarmament.

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IIFL Wealth Management Ltd
Published on 12/12/2017 11:22:24 AM

Brent Oil 

Brent oil surged in the wake of supply disruption at North Sea pipeline, with spread between Brent and WTI widening to around US$7/bbl. North Sea pipeline which transports around 450,000 bpd of forties crude has been operating at curtailed capacity for last four days. Meanwhile, comments from UAE and Kuwait failed to dent the energy complex. UAE and Kuwait's energy minister stated that OPEC intends to announce calibrated reduction in production curtailment in June, though, he clarified that the supply accord will remain in place.

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IIFL Wealth Management Ltd
Published on 12/12/2017 11:21:39 AM

Base Metal

Base Metals held ground amid another set of stable Macroeconomic numbers chinese bank lendig hit fresh record high in november, up by 13.3% on yoy basis. part of this incrase was seasonal, but the bulk of it could be attributed to the ongoing regulatory crackdown on off-balance sheet financing coupled with the recent weakness in china`s bond markets that is persuading traditional lending.stronger rise in new net loans substantiates our viwe that the end user demand remains resilient which would underpin metal prices amid tighter supply chain in the months ahead.

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IIFL Wealth Management Ltd
Published on 12/12/2017 11:21:01 AM

Gold 

Gold Prices drifted Lower, As Market Participants Look For Ward To The outcme of US FOMC policy meeting tomorrow where a rate hike is very much on the cards, markets will also be interested in what fed intends to do with the rate trajectory

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IIFL Wealth Management Ltd
Published on 11/12/2017 11:12:35 AM

Base Metal

Base Metals Held Ground In The Wake Of Strong Chinese Trade Numbers With Exports During november Rising 12.3% (YOY), The Fastest Pace In Eight Months. Imports grew A Healthy 17.7% Despite The Fact China  Is Undergoing Sizable Supply side Curtailments in Various Industrial Commodities. On Shorts Term Outlook, We Remain Upbeat On The non-ferrous Pack Given The Resilient  end-user demand, substantiated by Upbeat trade numbers. moreover, golbal stockpiles in most of the metals are declining, needless to say on going productions cuts will squeeze supply for next few months.

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IIFL Wealth Management Ltd
Published on 11/12/2017 11:11:22 AM

Gold

Gold prices Struggled Around Four-month Low,weighed Down By Stronger Than Expected US Employment Numbers Which Has Now Bolstered The Prospects Of A rate ike in december. on Speculative front non-commercials (Hedge Funds and money managers) trimmed their net long positions on comex Gold To the Lowest Level Since August. Net Length In comex Silver also Fell To July Low.On Price front, We See The Path Of Least Resistance In Gold Still Lower, With Values Expected To retrace Towards S$1,230/OZ Mark.

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IIFL Wealth Management Ltd
Published on 8/12/2017 12:03:06 PM

Non-ferrous metal

In Non-ferrous pack, selling presssure moderated post the liquidation seen during past few trading sessions. we sense that markets will re asses the evolving dynamica on the ongoing production curtailments in china. the moot point remains whether supply side tightness is countbalanced by slowdown in end-user demand. we reckn that there are no strong signals of deceleration in demand given the relatively steady macroeconomic numbers.

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IIFL Wealth Management Ltd
Published on 8/12/2017 12:02:00 PM

Gold 

Gold hit a four-month, weighted by strenghth In The grenback, while ferocious rally in crypto currencies like bitcoin is also diliting speculative interest in the yellow metal. geopolitical developments failed to provide any degree of support to the precious pack. violence was reported across the west bank and gaza following US endorsement Of jerusalem as israel`s capital, meanwhile, twoB1B US bombers jined South kore`s lagge-scale combat drills, stoking tensions in the korean peninsula.

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IIFL Wealth Management Ltd
Published on 7/12/2017 11:53:21 AM

Oil 

Oil futures scaled lower, dented by sharp rise in US downstream inventories.EIA reported rather large increases in both gasoline (6.8 million barrels) and distillates (up 1.7 million barrels) stockpiles for last week.

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