Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
![](https://portfolio.investmentguruindia.com/uploads/news/gold_29.12.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below the Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Comex Gold extends gains amid rising bets that the Federal Reserve will trim interest rates before year-end after poor US economic data. Swaps traders are now pricing in a 70% chance of a rate cut in September. Now, all eyes on the key US jobs numbers today as it is expected to show decline in hiring and a moderation in wage growth. As per Bloomberg estimates, US Nonfarm Payrolls probably rose by 190,000 last month, Unemployment was seen holding at 4%, the highest in more than two years. If official data meets expectations, it may strengthen the case for the Fed to start cutting interest rates as soon as September and boost further upisde in gold prices.
WTI Crude oil futures edged lower but trades near two-month highs around $84 per barrel as concerns of a more severe storm season grew following the early arrival of Hurricane Beryl, which threatens approximately 73,000 barrels per day of federal offshore oil production. Additionally, the largest inventory drawdown in over a year in crude oil, coupled with declines in gasoline and distillate stocks last week, indicated tightening supplies. Overall, oil appears poised for further gains amid escalating geopolitical tensions as the Lebanese Hezbollah group launched over 200 rockets on Thursday at several military bases in Israel in retaliation for an attack that killed one of its senior commanders.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Rupee_040124.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/apple57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/simcard57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Chemical.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/GST 1090.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/INDIA-ECONOMY-PMI.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/State Bank of India Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Power 2510.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Infrastructure28.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/NKSingh57.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Shripal Shah, MD & CEO, Kotak Securities.jpg)
Quote on the latest SEBI circular to Market Infrastructure Institutions (MIIs) on slab-based...
More News
![](https://portfolio.investmentguruindia.com/uploads/news/Gold 1.jpg)
Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
![Quote On Gold and Crude by Kaynat Chainwala, Senior Manager - Commodity Research, Kotak Securities](https://portfolio.investmentguruindia.com/uploads/news/Gold060324.jpg)
![Views on the importance of gold and gold ETFs in the portfolio on Akshaya Tritiya by Mr. Chintan Haria, Principal - Investment Strategy at ICICI Prudential AMC](https://portfolio.investmentguruindia.com/uploads/news/Chintan Haria.jpg)
![Quote on Oil Prices by Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd](https://portfolio.investmentguruindia.com/uploads/news/Essar Oil UK.png)