GOLD : Gold prices gained in European trade on Wednesday, touching the highest level in two weeks as traders kept an eye on fresh political developments in the U.S. after President Donald Trump allegedly asked the FBI to end a probe into his former security adviser. Gold notched a fifth-straight winning session on Tuesday as the dollar sank to a six-month low amid signs of slowing economic activity in the U.S. Safe-haven demand was boosted after media reports said President Trump asked then-FBI Director James Comex to end a probe into Trump’s former national security advisor, Michael Flynn. The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.
CRUDE OIL : Despite efforts by top producers Saudi Arabia and Russia to extend output cuts crude oil futures were trading lower during afternoon trade in the domestic market on Wednesday as investors and speculators exited their positions in the energy commodity after data showed an increase in the US crude inventories. According to the American Petroleum Institute (API) data showed on Tuesday US crude oil inventories rose by 882000 barrels in the week ending May 12 to 523.4 million against analyst expectations for a decrease of 2.4 million barrels. As oilfield workers for Lilis Energy Inc threaded together drill pipes one recent morning in the Permian Basin, a bulldozer cleared sagebrush to make way for the company’s fifth well since January. Lilis aims to expand production sevenfold this year in America’s most active oilfield. The whir of activity is all the more impressive after the small firm nearly collapsed in late 2015 – amid unrestrained production from the Organization of the Petroleum Exporting Countries (OPEC). As per-barrel prices plummeted, Lilis piled on debt and struggled to pay workers.
LEAD : Lead futures were trading higher during morning trade in the domestic market on Wednesday as investors and speculators build up fresh bets in the industrial metal on uptick in physical demand for lead from battery-makers in the domestic spot market. Further a surge in physical demand from battery-makers in the domestic spot market supported prices of lead at futures trade.
ALUMINIUM : Aluminium futures were little changed during morning trade in the domestic market on Wednesday as investors and speculators remained on the sidelines in the industrial metal amid subdued physical demand for aluminium at the domestic spot market. Further a fall in physical demand for aluminium at the domestic spot market was due to trimming of positions by traders in the spot markets influenced aluminium prices at futures trade.
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
Our Some Best Services Read it Here…
www.capitalstars.com | T:+91-731-6790000,6669900