Bullion Gold & Silver Outlook - In today’s session, we expect precious metals to trade on a negative note on the back of declining trend in gold and silver ETF’s holdings. Further, mixed concerns over QE tapering by the Federal Reserve will exert downside pressure on prices. However, weakness in the DX coupled with upbeat market sentiments will cushion sharp downside in prices. In the Indian markets, appreciation in the Rupee will add downside pressure on prices. Energy Crude Oil Outlook - From the intra-day perspective, we expect crude oil prices to trade lower on the back of estimates of rise in API crude oil inventories. Further, expectations of decline in demand for fuel after mixed concerns over QE tapering by the Federal Reserve will exert downside pressure on prices. However, sharp downside will be cushioned as a result of upbeat market sentiments coupled with weakness in the DX. Additionally, forecast for rise in economic sentiments of Euro Zone will restrict downside movement in oil prices. In the Indian markets, appreciation in the Rupee added downside pressure on crude oil prices. Base Metals Copper Outlook - From the intra-day perspective, we expect base metals prices to trade on a negative note on the back of record high output of copper from China. Further, mixed concerns over QE tapering by the Federal Reserve will exert downside pressure on prices. However, upbeat market sentiments, economic reforms by China along with weakness in the DX will cushion sharp downside in prices. Additionally, forecast for rise in economic sentiments of Euro Zone will restrict downside movement in oil prices. In the Indian markets, Rupee appreciation will add downside pressure in prices.
Posted on: Tue, 19 Nov 2013 04:44:17 +0000
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