CAPITAL STROKE COMMODITY UPDATE 9 APRIL 2014 : MCX SILVER

Silver trading range for the day is 42999-43529.
Silver gained as investors expressed geopolitical jitters and eyed the U.S. Federal Reserve for clues on the direction of the dollar.
Fed Chair Janet Yellen has said slack labor markets will call for accommodative policies to stay in place for some time, which gave bullion a boost.
The next market focus will be the release on Wednesday of U.S. Federal Reserve minutes for the March FOMC meeting.

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CAPITAL STROKE COMMODITY UPDATE 9 APRIL 2014 : MCX GOLD

Gold trading range for the day is 28298-28676.
Gold rose on a sharply lower dollar and as renewed tensions between the United States and Russia over Ukraine burnished bullion's safe-haven appeal.
However, investors continued to pull money out of gold-backed exchange-traded funds, raising the risk that the price gains would be short lived.

SPDR gold trust holding dropped by 2.70 tonnes i.e. 0.33% to 806.48 tonnes from 809.18 tonnes.

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CAPITAL STROKE COMMODITY UPDATE 9 APRIL 2014 : MCX CRUDE OIL

Crudeoil trading range for the day is 6019-6243.
Crude oil rose boosted by a weaker U.S. dollar and forecasts for a draw on stockpiles of domestic oil products.
The U.S. EIA said it did not assume that a disruption of oil supply or demand would result from the events in Ukraine.
Today crude oil inventories: Exp: 1.0M Prev: -2.4M. Actual is at 8.00PM.

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CAPITAL STROKE COMMODITY UPDATE 9 APRIL 2014 : MCX COPPER

Copper trading range for the day is 402.5-409.5.
Copper dropped as pressure seen after IMF slashed the global economic forecast to 3.6% in its latest report considering weak European economy.
Investors were mostly focused on several US Federal Reserve officials’ speeches concerning easy monetary policy with the dearth of market-driven news.
IMF lowered its forecast for 2014 global GDP growth to 3.6%, down from 3.7%, but remained its 7.5% growth forecast for China’s GDP this year.

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CAPITAL STROKE COMMODITY UPDATE 9 APRIL 2014 : MCX ZINC

Zinc trading range for the day is 120.5-122.9.
Zinc rose on speculation that global economic gains forecast by IMF will spur demand amid declining supplies.
Refined supplies will fall short of consumption by 117,000 metric tons this year, the International Lead & Zinc Study Group said.
China's imports of refined zinc surged 84 percent in the first two months of 2014, from a year earlier.

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CAPITAL STROKE COMMODITY UPDATE 9 APRIL 2014 : MCX NICKEL

Nickel trading range for the day is 977.5-1000.5.
Nickel dropped as investors were mostly focused on several US Federal Reserve officials’ speeches concerning easy monetary policy.
Producers face dwindling Indonesian ore supply and government pressure to curb pollution.
Jinchuan Group raised its ex-works prices for nickel in Shanghai by RMB 3,000/mt to RMB 109,000/mt.

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CAPITAL STROKE COMMODITY UPDATE 9 APRIL 2014 : MCX NATURAL GAS

Naturalgas trading range for the day is 267.3-277.9.
Natural gas gained as updated weather-forecasting models called for cool temperatures to settle in as a spring storm treks across the central and eastern U.S.
A spring storm moving across the U.S. will leave below-normal temperatures in its wake, which should boost demand.
Forecasts for temperatures dipping into below-normal ranges through April 21 drew applause from investors.

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CAPITAL STROKE COMMODITY UPDATE 9 APRIL 2014 : MCX ALUMINIUM

Aluminium trading range for the day is 107-109.6.
Aluminium dropped as pressure seen after growing tensions in the Ukraine crisis.
US Fed official’ speech raised anticipation that the Fed will keep monetary policy accommodative.
Aluminium daily stocks at Shanghai exchange came up by 730 tonnes.
Aluminium settled down -0.28% at 108.6 as pressure seen after growing tensions in the Ukraine crisis.

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CAPITAL STROKE UPDATE 7 APRIL 2014 : MCX GOLD

Gold trading range for the day is 27965-28489.
Gold settled up after data showing brisk U.S. employment growth in March unleashed heavy short-covering by bullion investors.
The Labor Department said U.S. nonfarm payrolls increased by 192,000 jobs last month, slightly below estimate of 200,000.
SPDR gold trust holding dropped by 1.80 tonnes i.e. 0.22% to 809.18 tonnes from 810.98 tonnes.

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CAPITAL STROKE UPDATE 7 APRIL 2014 : MCX CRUDE OIL

Crude oil trading range for the day is 6024-6142.
Crude oil gained as data showed strong jobs growth in US and as investors cast doubt on reports Libya's oil ports were about to reopen.
The restart of Libya's eastern oil ports could release about 600,000 bpd of crude, bumping up OPEC producer's output from around 150,000 bpd.
Previous reports of the reopening of ports have proven false and investors suspected there will again be no breakthrough.


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