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Daily Commodity Pointer

29th September 2023

Tracking Market

Sep 28 2023	Close	PrevClose	AbsChange
Re/$	83.15	83.18	-0.03
Euro / $	1.0559	1.0500	0.0059
Light Sweet	91.71	93.68	-1.97
Gold $ / OZ-	1898.00	1890.90	7.10
Silver $ / OZ-	22.74	22.72	0.02
$ / Yen	149.29	149.63	-0.34

On Sep 29 2023

Events	ET	IST	Forecast	Prev
Core PCE Price Index m/m	7.30	18.00	0.2%	0.2%
Personal Income m/m	7.30	18.00	0.4%	0.2%
Prelim Wholesale Inventories m/m	7.30	18.00	-0.1%	-0.2%
Chicago PMI	8.45	19.15	47.5	48.7
Revised UoM Consumer Sentiment	9.00	19.30	67.7	67.7
Revised UoM Inflation Expectations	9.00	19.30	-	3.1%

CallTracker

Commodity	LTP	T1	T2	SL	Margin	Tick
CRUDE OIL	7600	7700	7800	7550	314450	1

Pivot Point - Agri/Non-Agri

Commodity News Wire

Energy

Oil prices fall as Russia, Saudi Arabia expected to boost supply

Oil prices fell in early trade on Friday after a recent rally, as profit-taking and expectations of supply increases by Russia and Saudi Arabia outweighed forecasts of positive demand from China during its Golden Week holiday.

Bullions

Gold set for worst month in seven on elevated US rates outlook

Gold prices on Friday braced for their biggest monthly fall since February, hovering around levels at over six-month lows on the prospects of higher-for-longer interest rates ahead of a widely watched U.S. inflation print due later in the day.

Currency

Dollar eases from 10-month high but on track for weekly gain

The dollar index eased from a 10-month high on Thursday but remained on track for a weekly gain, and investors stayed on guard for potential intervention in the yen as it holds near 11-month lows against the U.S. currency.

Base Metals

Copper rebounds after traders square positions ahead of China holiday

Copper prices rebounded on Thursday after traders squared positions ahead of a long public holiday in China, but a firm dollar weighed on the rally.

Agri Commodity

Palm oil prices seen rising in 2024 as El Nino crimps Indonesian output

Crude palm oil (CPO) prices in 2024 are likely to average at least 11% more than this year as El Nino weather patterns are expected to reduce output in top producer Indonesia, the Indonesian Palm Oil Association (GAPKI) said on Thursday.

Exchange Turn Over :
NCDEX recorded a total turnover of Rs. 799.08 crores, whereas MCX recorded a total traded turnover of Rs. 106943 Crores on 28th September 2023.

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This report is neither an offer nor a solicitation to purchase or sell commodities. The information and views expressed herein are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in or have positions in the commodities mentioned in their articles. Neither Ventura Securities Limited nor any of the contributors accepts any liability arising out of the above information/articles. Reproduction in whole or in part without written permission is prohibited. This report is for private circulation.