Gold Rebounds Slightly In Asia After Recent Profit-Taking - Gold prices rebounded in Asia on Wednesday as investors saw recent declines on a stasis in tensions on the Korean peninsula as a chance to buy and on physical demand as the Indian festival season approaches. Overnight, gold prices fell below break-even on Tuesday as easing U.S.-North Korea tensions fueled demand for riskier assets lifting global stocks to record highs for a second straight day. The relief rally continued for a second straight day, lowering demand for safe-haven gold as investors shrugged off fresh threats from North Korea after the United Nations imposed a fresh round of sanctions, restricting the country’s access to oil imports while limiting textile exports. North Korea's ambassador to the UN, Han Tae Song, told a conference in Geneva: "The forthcoming measures by DPRK [the Democratic Republic of Korea] will make the US suffer the greatest pain it has ever experienced in its history." Also weighing on gold prices was a sharp rise in U.S. treasury yields ahead of inflation data due Wednesday, which could influence the Federal Reserve's interest rate decision slated for September 20. Analysts, however, have been quick to downplay gold’s poor start to the week as data pointing to a surge in buying activity suggests that demand for the yellow metal remains supported.
Aluminum Stocks Rise Sharply at Three Major Ports in Japan - Aluminum
stocks grew a lot at three major ports in Japan at the end of August, according
to Marubeni Corp. on Tuesday. Japan Q4 Aluminum Premiums to Find Support from
Higher US Premiums. Stocks totaled 282,600 tonnes at the
three major ports as of the end of August, up over 5% on a monthly basis.
Morgan Stanley: Fundamentals Not
Good Enough to Keep Copper Price above $6,600 - Morgan Stanley
reckons fundamentals are not good enough to leave copper prices above $6,600
per tonne. SMM Releases Copper PMI in August and September Forecast. Foreign
trade for copper remains sluggish this year. Despite improvement in economic
activities in September, construction and public investment slowed. Goldman
Sachs Sees Copper Price Fall in 6-12 Months.
Crude Oil Mixed In Asia As
Market Digests API Estimates - Crude oil prices were mixed in Asia
on Wednesday with investors mulling industry estimates on U.S. inventories of
crude and refined products as they wait for official figures.It was the second
straight build after Hurricane Harvey shut production in some Gulf of Mexico
fields and refineries in Texas as some domestic producers also trimmed output
to avoid a larger glut at storage. The oil storage hub at Cushing, Oklahoma,
saw a build of 1.32 million barrels.Overnight, crude oil prices settled higher
on Tuesday after a report showed Opec output fell in August but gains were
capped as investors braced for U.S. crude inventory due data expected to show a
large build in stockpiles.
sebi registered advisory company , Free Trading Tips , Equity tips
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

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
Click here for comments 0 comments: