Gold is trading in 'buy on dips' environment
Silver on the hourly chart is trading in a symmetrical triangle pattern with a breakout above 43,300 and breakdown below 42,200
The Rupee is finding resistance around 77.06 and upside momentum will continue above that level
ADX is showing momentum on the upside for Gold
Commodities Outlook & Stock recommendation by Bhavik Patel - Sr. Technical Analyst
Imports of copper concentrates by domestic manufacturers is inevitable due to lack of ample and quality deposits within the country
Commodities Outlook & Stock recommendation by Bhavik Patel - Sr. Technical Analyst
China, Japan, Korea, European Union (EU) are already importing copper concentrate at zero duty
Commodity outlook and trading ideas by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls.
While Trump said in a speech that a phase-one trade deal was close, the market focused on his comments about raising tariffs on Chinese goods
Meanwhile, China remains by far the largest global consumer of copper despite consumption faltering this year due to rising trade tensions with the US
The domestic copper industry, comprising the primary and downstream segments, is estimated to be around Rs 60,000 crore per annum
Domestic players fear RCEP will aggravate imports of wire and rods and widen the trade deficit; want refined copper in exempt list
From net exporter, India becomes importer of Copper
Tin gained, aluminum advanced the most in more than a week and nickel posted the largest three-day increase since April
Benchmark copper on the LME slipped 0.5 per cent to $6,456 per tonne
Nickel price highest since Oct, zinc hits 13-month high
Copper for three-month delivery gained 1% to $4,557 a metric tonne on the London Metal Exchange
Metal for delivery in June edged up by 85 paise, or 0.27%
Supply surplus and weak demand from China to keep demand down