CAPITAL STROKE COMMODITY UPDATE 10 APRIL 2014 : MCX ZINC

Zinc trading range for the day is 120.9-123.1.
Zinc ended with small losses as market traded in the range due to the lack of positive news.
FOMC's March policy meeting minute expressed they will maintain low interest rates before the inflation rate reaches 2%.
Zinc daily stocks at Shanghai exchange came down by 574 tonnes.

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CAPITAL STROKE COMMODITY UPDATE 10 APRIL 2014 : MCX COPPER

Copper trading range for the day is 398.6-409.8.
Copper declined amid speculation an official scrutiny of debt proceeds in China, may lead to potential defaults, curbing demand for copper.
A report by the ICSG showed an even bigger projected global surplus of 400 000 tons as demand lags behind the output growth.
The global surplus of copper may reach 140 000 tons in 2014, almost four times larger than previously estimated as demand in China, slows.

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CAPITAL STROKE COMMODITY UPDATE 10 APRIL 2014 : MCX CRUDE OIL

Crude oil trading range for the day is 6108-6306.
Crude oil rose as rising tension between Russia and Ukraine overshadowed the bearish impact of a steep rise in crude oil stockpiles in US.
The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories rose by 4.03 million barrels
OPEC is now expected to produce 36.15 mbpd of oil in 2014, 270,000 bpd more than the EIA's previous forecast in March.

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CAPITAL STROKE COMMODITY UPDATE 10 APRIL 2014 : MCX SILVER

Silver trading range for the day is 41772-43732.
Silver dropped as stronger dollar is making the metal less appealing and investors have pulled back slightly ahead of Fed meet.
Fed’s policy meeting revealed that U.S. monetary authorities voted unanimously to scrap a threshold calling for rate hikes once the unemployment rate hits 6.5%.
A better tone in the U.S. economy and easing geopolitical tensions had recently weighed heavily on bullion's appeal as a hedge.

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CAPITAL STROKE COMMODITY UPDATE 10 APRIL 2014 : MCX GOLD

Gold trading range for the day is 28237-28649.
Gold settled down while traded in the range as investor eyed on U.S. Federal Reserve for clues on the direction of the dollar.
The release of Fed minutes that eased concerns the central bank was set to hike interest rates soon after it ended its massive monetary stimulus later this year.
Investors continued to pull money out of gold-backed exchange-traded funds, raising the risk that price gains could be short lived.

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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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