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Gold Slides On MCX As Drop From Near Rs 30K Extends (20/01/2018)
  COMEX Gold futures flipped back from a four month high yesterday but witnessing some buying after the US stocks corrected after recent spurt. US equities came off record highs concerns about a potential government shutdown. Good Indian demand prospects also turned out to be a key factor yesterday. The metal is currently trading at $1231 per ounce, up 0.30% on the day. MCX Gold futures ended at Rs 29630 per 10 grams, down 0.43% on the day as a drop from highs near Rs 30K extended. India's gold imports rose 53% to 846 tonnes last year on strong domestic demand and lower global prices, according to MMTC-PAMP India, media reports stated. The world's second largest gold consumer had imported 550 tonnes of the metal in 2016. In December 2017, gold imports rose to 70 tonnes from 49 tonnes in the year-ago period. This is likely to keep the metal supported in near term, capping downside pressure.
   
Copper Steady Just Above Rs 450 On MCX (20/01/2018)
  COMEX Copper futures edged up in Asia amid supportive cues from equities. The metal has corrected this week on concerns about speculative demand as prices hovered just below four year highs. Large metals speculators trimmed their net positions in the Copper futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 62,284 contracts in the data reported through Tuesday January 9th. This was a weekly reduction of -1,628 contracts from the previous week which had a total of 63,912 net contracts. The speculative position of copper had seen four straight weeks of gains before the latest pull back. COMEX Copper is currently quoting at $3.209 per pound, up 0.28% on the day. MCX Copper futures should open higher following these cues. The metal closed at Rs 452.50 per kg yesterday, up 0.40% on the day. Powered by Commodity Insights
   
US Crude Oil Inventories Slip For Eighth Week (11/01/2018)
  Crude oil futures continued to stay supported Wednesday, extending 4-year highs amid further signs the global oil market is tightening. US crude inventories fell 4.9 million barrels last week, more than the 3.9-million decline forecast. It was the eight week in a row that inventories slipped. The WTI Crude rose 61 cents, or 1%, to settle at $63.57 a barrel yesterday. MCX Crude oil futures closed up 0.87% at Rs 4038 per barrel. Meanwhile, India's fuel product consumption or sales surged 7.6% to 17.41 mt in December 2017 over a year ago. Diesel jumped 10.4% to 7.26 mt, petcoke 15.7% to 1.91 mt, others 35.3% to 0.62 mt, petrol 8.1% to 2.12 mt and LPG 3.1% to 2.00 mt. The consumption of bitumen also improved 7.7% to 0.62 mt, light diesel oil (LDO) 32.8% to 0.05 mt and lubes/greases 2.1% to 0.30 mt. The consumption of ATF was flat at 0.64 mt, while that of kerosene declined 21.3% to 0.31 mt, and fuel oil 7.5% to 0.57 mt and naphtha 2.6% to 1.01 mt in December 2017. Consumption or sales of fuel products increased 3.9% to 152.01 mt in April-December 2017 over April-December 2016. Sales of diesel increased 5.9%, petrol 8.6%, LPG 8.1%, and petcoke 6.9%. Consumption of others moved up 11.9%, ATF 7.8%, lubes/greases 2.1% and LDO 4.6%. However, the consumption of kerosene declined 31.1%, naphtha 9.8%, fuel oil 8.4% and bitumen 2.2% in April-December 2017. Powered by Commodity Insights
   
Copper Gains, Sentiments Supported (09/01/2018)
  COMEX Copper futures stayed supported on speculative buying after Friday’s profit selling. The global copper futures soared to four year highs after a massive rally in last year. Positive Chinese data, an emerging global supply deficit and signs that future technologies such as electric vehicles and solar power will lead to a big demand increase are acting in favour of the red metal from a medium term view. COMEX Copper is holding up around $3.23 per pound right now. MCX Copper futures ended just under Rs 454 levels yesterday and should edge up towards Rs 456/457 levels today.

Large metals speculators sharply increased their bullish net positions in the Copper futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 63,912 contracts in the data reported through Tuesday January 2nd. This was a weekly advance of 10,643 contracts from the previous week which had a total of 53,269 net contracts. Speculative positions have risen for four straight weeks

   
United States Geological Survey came with U.S. mine and plant production data for 14 selected minera (06/01/2018)
  WTI Crude oil futures stayed supported yesterday after US EIA reported another drop in US oil inventories. US commercial crude oil inventories decreased by 7.4 million barrels from the previous week, the EIA said in a weekly update. Stockpiles have been falling for last two months and WTI futures scored big on this, hitting near three month highs around $62.50 per barrel. At 424.5 million barrels, US crude oil inventories are in the middle of the average range for this time of year. However, with a massive cold wave keeping drivers off the roads during the holidays, total motor gasoline inventories increased by 4.8 million barrels last week, and are above the upper half of the average range. MCX Crude oil futures closed around Rs 3920 per barrel and should see a mixed outing ahead of the weekend. US stocks hit another record high on supportive jobs data and rising commodity prices. A report released by payroll processor ADP on Thursday showed private sector employment in the US soared much more than expected in the month of December. ADP said employment in the private sector surged up by 250,000 jobs in December after climbing by a downwardly revised 185,000 jobs in November. British services activity growth exceeded expectations at the end of 2017 despite the Brexit-related uncertainty weighing on business investment. The IHS Markit/Chartered Institute of Procurement & Supply services Purchasing Managers' Index rose to 54.2 in December from 53.8 in November, survey data from IHS Markit showed.
   
US Aluminium Production Essentially Unchanged in Q3 2017 (06/01/2018)
  United States Geological Survey came with U.S. mine and plant production data for 14 selected mineral commodities. The combined production of construction materials (cement, construction sand and gravel, crushed stone, and gypsum) in the third quarter of 2017 was 7% higher compared with that in the second quarter of 2017. Production of secondary aluminum remained essentially unchanged in the third quarter of 2017 and has remained that way since the first quarter 2016, copper production decreased by 6%, whereas iron ore and zinc increased slightly and by 16%, respectively, compared with that in the second quarter of 2017.During the third quarter of 2017, gold and silver production decreased by 10% each compared with production in the second quarter of 2017. The continued strike at a polymetallic silver and lead mine in Idaho contributed to the decreased silver production. Powered by Commodity Insights
   
Gold Near Three Month High After Breaking $1300 Mark (03/01/2018)
  Supportive buying momentum, weak US dollar and upbeat technical cues after the breach of $1300 per ounce are keeping Gold afloat at the start of the New Year 2018. The commodity is currently trading at $1315 per ounce – its highest mark in nearly three months. Prices gained around 6% last year –clocking their best annual performance in seven years. MCX Gold futures closed at around Rs 29160 per 10 grams, up 0.13% on the day. Expect buying to emerge as long as Rs 29K remains in place. Large metals speculators added to their bullish net positions in the Gold futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 113,795 contracts in the data reported through Tuesday December 26th. This was a weekly gain of 6,727 contracts from the previous week. Powered by Commodity Insights
   
Global Aluminium Output Down 8% On Year In November (03/01/2018)
  International Aluminium Institute latest numbers for Aluminium showed a sharp dip in the production of the metal. China has been one of the strong trigger in this dip as production in World Aluminium dropped by more than 5%. The data estimates from International Aluminium Institute (IAI) showed that Aluminium production was up to 4.714 million tonnes in November 2017, from 4.957 million tonnes in October 2017. On a yearly basis, Aluminium production shrinked by 8.3% from 5.145 million tonnes in November 2016. China Aluminium production was 2.35 million tonnes in November 2017, up from 2.54 million tonnes in October 2017. Powered by Commodity Insights
   
Silver Looks Supported, Traders Eye Strength In Base Metals (22/12/2017)
  COMEX Silver futures slipped a little on profit booking after hitting two week highs though weak US dollar and firmness in Copper prices could cap the losses. The white metal has surged this week in tune with Gold futures and the COMEX Silver futures broke above the $16 per ounce levels comfortably. The metal is currently quoting at $16.20 per ounce, down 0.20% on the day. MCX Silver futures ended flat at Rs 37530 per kg. COMEX Copper hit near two month high yesterday, keeping the undertone firm for industrial commodities. Large metals speculators trimmed their net positions in the Silver futures markets again last week bringing down speculative sentiment in this shiny metal, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 9,914 contracts in the data reported through Tuesday December 12th. This was a weekly reduction of -21,512 contracts from the previous week.
   
Natural Gas Off Ten Month Low, Sentiments Hurt On Break Under $3 Levels (22/12/2017)
  Natural Gas futures recovered today after falling to a ten month low yesterday. Prices extended losses and sustained hefty declines for a second session as a drop under the key $3 per mmbtu levels continued. The US Energy Information Administration (EIA) reported Thursday that US natural gas stocks decreased by 182 billion cubic feet for the week ending December 15. The five-year average for the week is a withdrawal of 125 billion cubic feet, and last year’s storage withdrawal for the week totaled 200 billion cubic feet. Natural gas inventories fell by 69 billion cubic feet in the week ending December 8. The commodity is currently trading at $2.62 per mmbtu, up 092% on the day. MCX Natural Gas futures are trading at Rs 168 per mmbtu, up 0.66% on the day. Yesterday, the markets focused on the fact that US is likely to see temperatures around the Christmas holidays in the eastern region. Total US stockpiles fell week over week to 5% below last year’s level and are now 2.4% below the five-year average. The EIA reported that U.S. working stocks of natural gas totaled about 3.444 trillion cubic feet, around 84 billion cubic feet below the five-year average of 3.528 trillion cubic feet and 183 billion cubic feet below last year’s total for the same period. Working gas in storage totaled 3.627 trillion cubic feet for the same period a year ago.
   
Copper Proving Best Industrial Metal of 2017 (21/12/2017)
  Copper is proving to be the best industrial metal of 2017. Copper is on track to post its best year since 2010, supported by a favorable global economic backdrop and the prospect of mine disruptions across the globe. The most actively traded copper contract is up 26% in 2017 and hit its highest level in three years in October. Steady demand from important regions has been a sign of gain for Copper. Copper prices rose Wednesday, boosted by optimism on growth in the U.S. and around the world. Meanwhile Indian Copper smelters face issues of lower TC/RC margins thats a cause of worry for them. The Copper is sourced from global miners on which Indian miners charge TC/RC which is directly linked to there top line and bottom line growth. In China, Spot treatment and refining charges for Chinese smelters were at $84-$92/mt and 8.4-9.2 cents/lb last week, edging down from $85-$93/mt and 8.5-9.3 cents/lb the previous week, with thin imported concentrate trade amid annual term TC/RC talks, industry sources in China said Tuesday. Both Tongling Nonferrous Metals and Jiangxi Copper said in their December copper sector reports that the Chinese smelting sector and overseas mines could not finalize term TC/RCs for 2018 due to diverse views on next year's market fundamentals. MCX Copper Feb 2017 expiry contract ended at Rs 454 per kg, up 1.24%. The prices tested a high of Rs 455.95 per kg and a low of Rs 447 per kg. This means that the metals showed supremacy in terms of demand and traders are still interested to increase their positions in Copper.
   
Natural gas consumption surges in China (19/12/2017)
  China's natural gas consumption has surged in the first 11 months of 2017 due to strong demand from industry and winter heating, official data showed Monday. The country saw a 18.9-percent year-on-year rise in natural gas consumption, which totaled 209.7 billion cubic meters in the January-November period, according to the National Development and Reform Commission (NDRC). The growth was 12 percentage points higher than that in the first half of the year and more than 8 percentage points higher than the average growth in the previous five years, NDRC spokesperson Meng Wei said at a press conference. During the first 11 months, domestic natural gas output rose 10.5 percent year on year to 133.8 billion cubic meters while imported gas soared 28.9 percent.
   
US Retail Sales Up 0.8% In November (15/12/2017)
  US retail sales climbed by 0.8 percent in November after rising by an upwardly revised 0.5 percent in October, the Commerce Department revealed in a report released on Thursday. The stronger than expected retail sales growth came despite a modest decrease in sales by motor vehicle and parts dealers, which edged down by 0.2 percent in November after jumping by 1.2 percent in October. Excluding the drop in auto sales, retail sales surged up by 1.0 percent in November after climbing by 0.4 percent in October. Ex-auto sales had been expected to climb by 0.6 percent. Powered by Commodity Insights
   
Crude Rises In Asia Despite Weak Equities (15/12/2017)
  Supportive economic data kept Oil elevated. WTI Crude is quoting around $57.20 per barrel in Asia. Retail sales – mainstay of the US economy increased by much more than anticipated, the Commerce Department revealed in a report released on Thursday. The report said retail sales jumped by 0.8% in November after rising by an upwardly revised 0.5% in October. Oil is holding on despite a slide in Asian equities, indicating excellent innate strength. MCX Crude oil futures closed around Rs 3650 per barrel yesterday and should edge higher in early moves today. The European Central Bank left its monetary policy stance unchanged on Thursday, having already announced its plan to trim asset purchases at the start of next year. The ECB Staff raised the growth forecast for this year to 2.4% from 2.2%. The outlook for next year was sharply raised to 2.3% from 1.8%. The projection for 2019 was also raised to 1.9% from 1.7%. Eurozone headline composite output index climbed to an 82-month high of 58.0 in December from 57.5 in November, flash survey data from IHS Markit showed Thursday. Oil stayed broadly supported just under its two year high amid record high US equities. US crude oil stockpiles dropped for a fourth straight week with the massive slump in supplies at the Cushing, Oklahoma, hub in eight years, though the US crude output hit another weekly record, the Energy Information Administration (EIA) said on Wednesday. EIA Crude inventories fell 5.1 million barrels in the week to December 8th to 443 million barrels - their lowest since October 2015. Crude stocks at the Cushing, Oklahoma, delivery hub for US crude futures fell 3.3 million barrels, EIA said - the largest one-week draw in eight years. Cushing stocks have dropped in recent weeks after last month's closure of the 590,000 barrel-per-day (bpd) Keystone pipeline following a leak in South Dakota. Powered by Commodity Insights
   
Natural Gas Down 17% In Last Two Weeks (14/12/2017)
  Natural Gas futures tumbled today on ideas that elevated US output could hurt the prices further in the winter season. The EIA noted in a latest update this week that increased takeaway capacity from Appalachia is expected to result in increased natural gas production in the coming months and could limit significant upward price pressure, although colder-than-normal temperatures throughout the rest of 2017 could contribute to price increases. Natural gas production has shown year-on-year growth since June 2017, and inventories are within 1% of the five-year average level, noted the EIA. Markets are eyeing the release of the weekly US Natural Gas storage data due to be released later on tonight and the prices are taking a dive after breaking under the key $3 per mmbtu mark last week. The counter is currently quoting at $2.66 per mmbtu, down nearly 2% on the day. The commodity has plummeted by nearly 17% in last two weeks. MCX Natural Gas futures are also down 2.20% at Rs 172.50 per mmbtu. According to data out last week, the US working gas in storage was 3,695 Bcf as of Friday, December 1, 2017, according to EIA estimates. This represented a net increase of 2 Bcf from the previous week. Stocks were 264 Bcf less than last year at this time and 36 Bcf below the five-year average of 3,731 Bcf. But, at current levels, the total working gas is within the five-year historical range.
   
Gold Could Maintain Upward Trajectory Next Year Says WGC (14/12/2017)
  The gold price has moved ahead this year, despite rising US interest rates and a persistent bull market in equities. Looking ahead, there are several reasons to believe that gold could maintain upward trajectory, noted John Reade, Chief Market Strategist at the World Gold Council (WGC) in the council’s latest Gold Investor update for December 2017. Investor attention may have been focused on US equity markets, technology stocks and crypto currencies this year, but gold has still had a decent 2017, delivering double-digit growth in the first 11 months alone. The strong performance is particularly noteworthy in a year when the US has been hiking rates and equities have remained in favour. Gold’s range has been relatively narrow and, apart from the geopolitically-inspired move above $1350 per ounce in September, the moves have been extremely orderly. Monetary policy and policymakers will continue to be significant drivers of gold demand, given that the Federal Reserve (the Fed) is anticipated by many to hike rates further next year and start to allow its balance sheet to contract. The new staff roster may also change the way the Fed acts and communicates. Jerome Powell, nominated as the next Fed chair, recently aired his views on Fed communications and any changes that he makes could lead to a period of adjustment by fixed income and other markets. Away from monetary policy, the ongoing strength of already expensive US equities and the trajectory of the US dollar are also being termed as critical factors for Gold. The bull market in US equities has reduced gold’s appeal in 2017 and an end to that trend could reignite demand for gold. The direction of the US dollar could also be important. If 2017 marks the end of a multi-year period of US dollar strength, gold could benefit from that tailwind, unlike the headwind that it has experienced since 2001. Powered by Commodity Insights
   
Copper Above $3, Traders Eye Fed (13/12/2017)
  COMEX Copper futures managed to hold above $3 per ounce as supportive equities and bargain buying kept the sentiments positive for the red metal. Copper has recovered after testing near two month lows as supportive Chinese import data and record high US equities offered some buying for the metal. China imported 1.37 million mt of copper ores and concentrates in October, down 100,000 tonnes month on month, but up 0.74% year on year. Over January-October, ore and concentrate imports rose 2.9% year on year to 13.93 million tonnes, data from the General Administration of Customs showed. US stocks stayed elevated last night. Banks and other financial stocks led the gainers as the Fed met to discuss interest rates. The US Fed is expected to raise rates Wednesday for the third time this year and overall outlook is mixed for copper though a major correction is likely only if the metal breaks under $3 mark. MCX Copper also extended gains above Rs 430 per kg mark and closed around
   
Silver Near Five Month Low On Weak Demand (13/12/2017)
  COMEX Silver futures are struggling near five month lows on poor demand as yearend trades are keeping fund buying limited. The counter is quoting at $15.73 per ounce, up marginally on the day. MCX Silver futures ended just above Rs 36700 per kg yesterday amid a tepid undertone in the metal. Large speculators sharply cut their net positions in the Silver futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 31,426 contracts in the data reported through Tuesday December 5th. This was a weekly decline of -27,356 contracts. Speculative positions have fallen for three straight weeks and are now at the lowest level since in four months. Powered by Commodity Insights
   
Crude Supported On Steady Buying In Asia (12/12/2017)
  WTI Crude is supported as steady buying is keeping the commodity just below its two year high. WTI futures are currently trading at $58.30 per barrel, up half a percent on the day. Large crude oil speculators slightly increased their net positions in the Crude Oil WTI Futures markets to a new record high last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 611,128 contracts in the data reported through Tuesday December 5th. This was a weekly advance of 1,295 contracts.The speculator bets have now risen for seven out of the last eight weeks. Meanwhile, the commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -623,260 contracts on the week. This was a weekly drop of -1,464 contracts. Powered by Commodity Insights
   
Gold Speculative Longs Tumble To Four Month Low (11/12/2017)
  Large metals speculators sharply trimmed their net positions in the Gold futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 173,329 contracts in the data reported through Tuesday December 5th. This was a weekly drop of -51,088 contracts. Speculative positions had increased the previous two weeks before this week’s sharp decline which was the largest one week fall since May 24th 2016 (-59,656 contracts). The gold longs are now at the lowest level in nearly four months. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -189,890 contracts on the week. This was a weekly gain of 56,651 contracts. Powered by Commodity Insights
   
Copper Longs Slide After Recent Increase (11/12/2017)
  Large metals speculators sharply reduced their bullish net positions in the Copper futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 26,653 contracts in the data reported through Tuesday December 5th. This was a weekly drop of -17,270 contracts. Speculative positions had risen for the past two weeks before this week’s fall. The current net position is now at the lowest level since July 25th.The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -35,212 contracts on the week. This was a weekly increase of 15,659 contracts from the total net of -50,871 contracts reported the previous week. Powered by Commodity Insights
   
Gold Shaky On Dizzying Spurt In Bitcoin (07/12/2017)
  COMEX Gold witnessed some buying around its four month lows but sentiments remained stressed as the digital currency Bitcoin briefly topped a fresh high of $14000. The metal has been hit by off late by weak demand conditions in the US and reports that major global exchange Chicago Mercantile Exchange (CME) indicated that it would soon be launching derivatives in the crypto currency Bitcoin hit the metal. COMEX Gold has not been able to hold and took a plunge under $1270 per ounce levels to test its four month lows. The metal is currently trading flat at $1265 per ounce. MCX Gold futures have also plummeted, sliding well under Rs 29000 per 10 grams levels. The counter closed around Rs 29970 per 10 grams yesterday and should extend losses if Rs 29K is not overcome. US Mint sales of American Eagle gold and silver bullion coins remained weak in November, amid record high equities. The Mint reported selling 12,000 ounces of American Eagle gold coins last month, down from 15,500 in October. Further, the total last month was down 92% down year-on-year from 147,500 ounces sold in November of 2016. The year-to-date total of 259,500 ounces is down by a whopping 73% from 956,000 in the first 11 months of 2016. US Mint American Eagle silver coin sales were just 385,000 ounces in November, slipping sharply from 1.04 million in October and 3.06 million in November 2016. The year-to-date total of 17.3 million ounces is down from 37.5 million in the first 11 months of 2016 - recording a slide of nearly 54
   

 

 
Commodity D
  Strategy Day Total (18/01/2018)
  Entry Price .
  Target .
  Stop Loss .
Commodity GOLD
  Strategy Sell (18/01/2018)
  Entry Price 29655
  Target TG1 29602 TG2 29575
  Stop Loss 29705
Commodity D
  Strategy Day Total (17/01/2017)
  Entry Price .
  Target .
  Stop Loss .
Commodity NICKEL
  Strategy Buy (17/01/2018)
  Entry Price 798
  Target tg1 806 tg2810 tg3 814.70
  Stop Loss 790
Commodity COPPER
  Strategy Sell (17/01/2018)
  Entry Price 454.20
  Target tg1 452.20 tg2451.20 tg3449.60
  Stop Loss 456.20
Commodity GOLD
  Strategy Sell (17/01/2018)
  Entry Price 29795
  Target tg1 29720 tg2 29690 tg3 29655
  Stop Loss 29870
Commodity CRUDEOIL
  Strategy Buy (17/01/2018)
  Entry Price 4055
  Target TG1 4110 TG2 4135 TG3 4160
  Stop Loss 4018
Commodity D
  Strategy Day Total (10/01/2018)
  Entry Price .
  Target .
  Stop Loss .
Commodity NICKEL
  Strategy Sell (10/01/2018)
  Entry Price 809.20
  Target TG1 800 TG2 795.50 TG3 790
  Stop Loss 818.10
Commodity D
  Strategy Day Total (09/01/2018)
  Entry Price .
  Target .
  Stop Loss .
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