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03 Dec 2016 | 9:11 AM
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Commodity Research Report: Commodity Monthly Newsletter

The ECB cut its interest rates and said it could take them still lower to prevent the euro zone's recovery from stalling as inflation tumbles.
04 Dec 2013 | 10:00 AM

Highlights-
 
  • The ECB cut its interest rates and said it could take them still lower to prevent the euro zone's recovery from stalling as inflation tumbles.
  • India’s economy fared better than expected growing at 4.8 percent in the second quarter.
  • Bullion came under pressure after U.S. GDP data showed economic growth accelerated in the third quarter as businesses restocked shelves. Also, in the Oct. 29-30 Fed policy meeting, officials indicated that they could decide to start reducing the asset purchases at one of their next few meetings provided this was warranted by economic growth.
  • Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 3.6 tonnes to their lowest since early 2009 at 856.71 tonnes. Outflows have totaled 450 tonnes this year.
  • The ECB cut its interest rates and said it could take them still lower to prevent the euro zone's recovery from stalling as inflation tumbles.
  • The World Gold Council has cut its outlook for Indian demand in 2013 to around 900 tonnes from 1,000 tonnes predicted previously as strict import rules were introduced by Indian govt. while kept its forecast for China unchanged at 1,000 tonnes.
  • Copper prices continued to remain under the grip of bears last month as FOMC meeting minutes indicated that Federal Reserve officials in October stuck to the view that the central bank might begin winding down bond purchases in the "coming months."
  • Activity in China's vast factory sector grew at a milder pace in November month as new export orders shrank, a preliminary survey showed, bolstering expectations the economy could lose some of its vigor in the fourth quarter which spread negative sentiments for the base metals.
  • Record monthly production in the world's top producer and consumer of refined copper may mean that domestic supply will continue to be plentiful in the coming weeks, weighing on local prices and making spot imports unattractive.
  • Copper demand probably will continue to grow an average 3 percent to 3.5 percent in the coming years, underpinned by Chinese urbanization, and a lack of new mining projects will eradicate the market surplus from 2016.
  • Natural gas rallied in the month of November, as investors focused on forecasts for colder weather that could stir heating demand.
  • The EIA expects U.S. gas production in 2013 to hit a record high for the third straight year, and then climb again in 2014.
  • Data released from the National Bureau of Statistics showed that China's production of aluminium reached a record last month due to increase in supply which led to further correction in prices of light metal.
  • Base metals sentiments were hit by worries about a crackdown on China's property market, with the sector weak after the southern city of Shenzhen was reported to be raising minimum down payment on second home purchases in an attempt to stem rising prices.
  • Good arrivals of some Kharif crops and better sowing reports for Rabi crops are keeping sentiments weak for Agri Commodities. Adverse weather reports in some Southern states and some rise in exports have however supported prices to some extent
  • Agri prices have crashed by 30-60% over last 1 year and by 10-30% since the onset of Monsoon in June
  • With volumes increasing in the Agri sector due to the low margin levels, and with very high volatility noted in the Futures market, we expect the trading interests to rise in the markets further in December.

 

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