320-x-100_uti_gold.jpg" alt="Advertisement">
Investors are awaiting the details about what could emerge from China`s Central Economic Work Conference in Beijing- HDFC Securities
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
GLOBAL MARKET ROUND UP
Gold held a four-day advance after a key US inflation report supported expectations for another interest rate cut by the Federal Reserve when policymakers meet next week. US consumer prices rose at a firm pace in November that was in line with expectations. The report bolstered bets on a 25-basis-point reduction at the Fed’s final meeting of the year, with swaps traders now virtually pricing in the move.
A fall in US crude oil inventories and the potential for additional US sanctions on Russia's and Iran's energy sectors drove the surge in crude oil for the third day in a row on Wednesday. Stockpiles at Cushing, Oklahoma, the delivery point for US crude futures, plunged by the most since early September after a 1.3-million-barrel drawdown.
Meanwhile, OPEC again cut its projections for global demand growth this year and next in its monthly report, ahead of a market outlook by the International Energy Agency later on Thursday.
Natural gas on Wednesday rallied sharply to a 2-week high after forecasts turned colder for the eastern half of the US for late December, signaling increased heating demand for natural gas.
Copper and other base metals declined on Wednesday in the absence of fresh cues and a report that China will consider allowing the Chinese currency to weaken next year. Investors are awaiting the details about what could emerge from China’s Central Economic Work Conference in Beijing, a two-day gathering to flesh out policies for 2025 that started Wednesday.
Gold
Trading Range: 78210 to 79305
Intraday Trading Strategy: Buy Gold Mini Dec Fut at 78005-78015 SL 75750 Target 78480
Silver
Trading Range: 94080 to 96480
Intraday Trading : Buy Silver Mini Feb Fut above 96080 SL 95575 Target 96650/96900
Crude Oil
Trading Range: 5875 to 6035
Intraday Trading Strategy : Buy Crude Oil Dec Fut at 5915-5920 SL 5850 Target 6005/6025
Natural Gas
Trading Range: 275 to 294
Intraday Trading Strategy: Buy Natural Gas Sep Fut at 282 SL 275.0 Target 294
Copper
Trading Range: 824 to 845
Intraday Trading Strategy: Buy Copper Dec Fut at 830.5 SL 826.0 Target 836/839
Zinc
Trading Range: 287-297
Intraday Trading Strategy: Buy Zinc Dec Fut at 291.8 SL 288.50 Target 297
Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795
SEBI Registration number is INZ00017133
