Report on Daily commodity 30 Oct 2025 by Hdfc Securities Ltd
GLOBAL MARKET ROUND UP
Gold pared its gains after Federal Reserve Chair Jerome Powell downplayed the chances of a December interest-rate cut. “A further reduction in the policy rate at our December meeting is not a foregone conclusion—far from it. Policy is not on a preset course,” Powell stated during a press conference following the policymakers' widely anticipated quarterpoint rate reduction on Wednesday. As a result, bond yields and the dollar increased, causing bullion to relinquish some of its earlier advances.
Geopolitical uncertainty has resurfaced, particularly after Prime Minister Benjamin Netanyahu ordered “forceful strikes” against Hamas in response to attacks on Israeli soldiers in Gaza. Additionally, U.S. President Donald Trump stated on Wednesday that he has requested the Department of War to immediately resume testing nuclear weapons at a scale comparable to that of other nuclear powers. This situation has led to an increased demand for safe-haven metals and is likely to limit the heavy downside in gold.
Crude oil closed higher on Wednesday, as investors assessed a large drop in US inventories and the impact of Western sanctions against leading Russian crude producers. US crude stockpiles declined 6.9 million barrels last week, the most since early September, along with draws in gasoline and distillates.
Natural gas is expected to trade within a specific range until the release of the weekly storage report. Anticipations of a larger-than-seasonal increase in natural gas storage are likely to put downward pressure on prices. The consensus projection is that the weekly EIA report will show an increase of +74 bcf in nat-gas inventories, surpassing the five-year average for this period, which is +67 bcf.
Copper declined on Thursday after reaching a record high in the previous session, as uncertainty lingered over trade policy, despite positive discussions between the US and China.
Gold
• Trading Range: 117680 to 122050
• Intraday Trading Strategy: Sell Gold Mini Dec Fut at 120200-120225 SL 121050 Target 119380/118450
Silver
• Trading Range: 145000 to 149050
• Intraday Trading Strategy: Sell Silver Mini Nov Fut at 148700-148725 SL 150005 Target 146500/145080
Crude Oil
• Trading Range: 5220 to 5550
• Intraday Trading Strategy: Sell Crude Oil Nov Fut at 5375-5380 SL 5450 Target 5280/5250
Natural Gas
• Trading Range: 322 to 355
• Intraday Trading Strategy: Sell Natural Gas Nov Fut below 332 SL 337.80 Target 324.0/322.0
Copper
• Trading Range: 1003 to 1029
• Intraday Trading Strategy: Sell Copper Nov Fut at 1014.50 SL 1021.5 Target 1009/1005.75
Zinc
• Trading Range: 295 to 305.80
• Intraday Trading Strategy: Sell Zinc Nov Fut at 303.0-303.50 SL 306.8 Target 297.2/295.8.
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