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Commodity Research Report Ways2Capital 12 March 2018


Gold prices gained on Friday recouping from the lowest levels of the year as the prospect of a global trade war pressured the dollar lower and boosted safe haven demand for the precious metal the US dollar index which measures the green backs strength against a basket of six major currencies was down 0.31% to close at 89.99 on Friday. A weaker dollar makes dollar denominated gold more attractive for overseas buyers.Expectations for higher interest rates are typically bearish for gold as the precious metal struggles to compete with yield bearing assets such as Treasuries when borrowing costs rise.


Oil prices finished higher on Friday but still suffered their first losing week in three as investors weighed indications of rising US production against OPEC's ongoing efforts to rid the market of excess supplies.That came after data on Wednesday showed US oil production driven by shale extraction rose to an all-time high of 10.28 million barrels per day (bpd) staying above Saudi Arabia's output levels and within reach of Russia the world's biggest crude producer.

Natural gas futures ratcheted higher last week as weather model guidance came in more supportive while government storage data came in near expectations. For the last week prices at MCX surged by 1.84 per cent.

Base Metals

Base metals traded on the London Metal Exchange are for the most part weaker this morning Friday March 9. The exception is nickel, where prices are up by 0.2%, while the rest are lower Zinc (-1%), aluminium (-0.5%), lead (-0.3%) and copper prices are off by 0.5% at $6,792 per tonne.


Markets found immediate support for Jeer after the recent dips. Better sowing reports amidst lack of strong demand however could still prevent strong recovery as of now. No strong bullish sentiments have emerged for now.

As the new crop arrivals gradually come down with harvesting season getting over the demand for the new crop started poring in and supporting the falling market sentiments. Technically the daily charts are now strongly oversold. Traders expect export and domestic demand to rise in coming weeks but new crop arrivals have kept up trend limited in recent months.


Soya oil failed to hold firm amid lack of any fresh bullish cue from Thursday USDA report. As indicated from the report the big piles of U.S. Soy bean stocks are not getting reduced with such speed hence CBOT soy complex were also under selling pressure.

Soft trend in soy meal and overnight weakness in CBOT kept sentiments eased but no major fall in prices was being indicated from the published data. In future bullish tone in soy meal shall continue offering helping prices to bounce from support levels.


Prices hovered near the psychological 9000 mark as lack of strong export demand with falling crude oil prices amidst reports of higher stocks kept pressure on the prices. Reports of higher carry forward stock kept up trend limited even as rising crude oil prices are likely to provide fillip to the export demand in coming weeks.

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News Release: Commodity Research Report Ways2Capital 12 March 2018
Submitted on: March 12, 2018 11:50:08 AM
Submitted by: Vijay
On behalf of: