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Daily Commodity Pointer

25th November 2020

Tracking Market

Nov 24 2020	Close	PrevClose	AbsChange
$ / Re.	74.00	74.02	-0.02
Euro / $	1.1891	1.1840	0.0051
Light Sweet Crude Oil	44.83	42.86	1.97
Gold $ / OZ-	1805.40	1834.40	-29.00
Silver $ / OZ-	23.29	23.60	-0.31
$ / Yen	104.42	104.55	-0.13

On Nov 25 2020

Events	ET	IST	Forecast	Prev
Prelim GDP q/q	8.30	19.00	33.1%	33.1%
Unemployment Claims	8.30	19.00	732K	742K
Core Durable Goods Orders m/m	8.30	19.00	0.5%	0.9%
Durable Goods Orders m/m	8.30	19.00	1.0%	1.9%
New Home Sales	10.00	20.30	972K	959K
Crude Oil Inventories	10.30	21.00	0.1M	0.8M
Natural Gas Storage	12.00	22.30	33B	31B

CallTracker

Commodity	LTP	T1	T2	SL	Margin	Tick
CRUDEOIL	3350	3400	3450	3300	334430	1

Pivot Point - Agri/Non-Agri

Commodity News Wire

Energy

Oil takes breather after vaccine rally as stockpiles rise

U.S. oil edged lower on Wednesday, after an industry report showed crude stockpiles in the United States rose against expectations, tempering a rally driven by news that another vaccine against COVID-19 had proved effective in trials.

Bullions

Gold inches higher from over 4-month low as dollar weakens

Gold prices edged up on Wednesday helped by a weaker dollar, though a robust appetite for riskier assets kept the safe-haven metal near a more than four-month low hit in the previous session.

Currency

Dollar under pressure as risk appetite stages a comeback

The dollar nursed losses on Wednesday as progress in developing a novel coronavirus vaccine and expectations for a fiscal boost from a new U.S. government triggered a shift of funds from the greenback to riskier assets.

Base Metals

Shanghai base metals were mostly higher after Dow surges to a new record

Nonferrous metals on the SHFE were mostly higher on Wednesday morning, and their counterparts on the LME rose across the board.

Agri Commodity

Refined soya oil futures ease on low demand

Refined soya oil prices on Tuesday fell by Rs 13.1 to Rs 1,061.4 per 10 kg in futures trade as speculators reduced holdings amid subdued demand in spot market.

Exchange Turn Over :
NCDEX recorded a total turnover of Rs. 1940.65 crores, whereas MCX recorded a total traded turnover of Rs. 40401.14 Crores on 24th November 2020.

Ventura Securities Ltd.
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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.