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Below is Daily Commodity Article by Mr. Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd

                              Rising dollar drags Gold lower; Crude snaps winning streak.

GOLD

Gold prices declined on Tuesday due to a stronger dollar and reduced safe-haven demand.

The dollar index reached a three-week high, and 10-year U.S. Treasury yields rose. Weaker loan demand and slowing inflation in the U.S. economy further impacted gold's performance.

However, measures announced by China's State Council to boost consumption in various sectors could potentially support the demand for physical gold.

In July, zero-yield gold recorded its highest monthly increase in four months as central banks signaled an end to their rate-hiking cycles.

Outlook: We expect gold to trade lower towards 59000 levels, a break of which could prompt the price to move lower to 58840 levels.

CRUDE

Crude oil prices on Tuesday settledd lower, as both benchmarks ended lower, breaking a three day streak of gains.

U.S. oil inventories plummeted by 15.4 million barrels in the past week, the largest drop since 1982, surpassing analysts' projections of a 1.37 million-barrel decline.

Demand outpacing supply, supported by Saudi Arabia's deep production cuts and an outage affecting Nigerian supply, has contributed to the decrease in global oil inventories.

Consequently, analysts predict that Saudi Arabia will extend its voluntary oil output cut of 1 million barrels per day, further boosting oil prices.

Outlook: We expect crude to trade higher towards 6800 levels, a break of which could prompt the price to move higher to 6850 levels.

BASE METALS

Base metals, including copper, experienced a decline on Tuesday after a strong performance in July.

Weak data from China, the top consumer of copper, and the euro zone suggested sluggish demand.

Despite gaining almost 6% in July due to hopes of China implementing measures to boost its economy, copper's recent growth was affected by poor PMI data in Asia and China's weak construction data.

Additionally, a stronger dollar index put pressure on the market, making commodities priced in USD more expensive for buyers using other currencies.

Furthermore, rising metal stocks in LME-registered warehouses also weighed on the base metal market.

Outlook: We expect copper to trade lower towards 736 levels, a break of which could prompt the price to move lower to 729 levels.

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