The Day So Far
* Global equities started on a firmer note while most commodities seen over a green turf as the week commence as a positive turnaround in Sino-U.S. trade war alleviated growth worries. Leaders from both nations agreed on 90 days truce at G20 summit last weekend, where U.S. decided to pause raising further tariffs on Chinese goods and China agreed to import more agricultural products from U.S.
* Gold spot clocked to more than three week high on wilting dollar after tracking the stand taken by U.S and China over trade war. Silver prices too propped up by following the path of gold. Meanwhile Dollar index slipped against its major rivals as investors shifted to other investment assets.
* A major come back is witnessed in crude oil prices, which gained by tacking U.S-China trade development cues and on hope that oil producers may take necessary steps to tackle excess supply during OPEC meet, due for this week. Meanwhile, declaration of Qatar’s quit from OPEC cartel ignite fresh political issues with in organization.
* Industrial metals in London Metal Exchange spurred in and around by 2.00 percent after a freeze in tariff escalation between U.S and China. MCX Base metals outperformed inline with LME Metals by gaining more than 2.00 percent.
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