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Sunday, 8 July 2018

Capitalstars News Updates For MCXTips Traders.

Gold Prices Gain on Dollar Weakness, Trade Threat -   Gold prices gained on Monday on a softer a dollar and threat of a full-blown trade war after US tariffs on $US34 billion worth of Chinese goods took effect on Friday, while China's commerce ministry retaliated with 25 per cent tariffs on $US34 billion worth of US imports. The dollar fell on Friday after data showed the US unemployment rate increased and wages grew less than forecast in June even as the economy created more jobs than expected. The data showed average U.S. hourly earnings gained five cents, or 0.2% in June after increasing 0.3% in May.  Meanwhile, nonfarm payrolls rise by a stronger-than-expected 213,000 in June, although its impact on currencies seem to be limited. A weak US dollar tends to lift gold, making the greenback-priced metal cheaper for non-US investors.
CapitalStars Investment Adviser 

Primary lead inventory rebounds on production recovery - Primary lead inventory in Shanghai and Guangdong halted its four-week decline and increased over the week ended Friday July 6, helped by the recovery of secondary lead production, SMM research found. As of Friday, the inventory grew over 3,000 mt from a week ago to 8,700 mt. The increase in Shanghai accounted for the majority of the growth. Secondary lead smelters gradually recovered their production after environmental inspectors from the central government left the region. Some consumers bought secondary lead instead of primary materials. Meanwhile, limitations on production at some primary lead smelters in Jiyuan city in Henan province were reduced from 50% to 30%, which helped drive up the overall production over the past week. The inflow of imported materials was another contributing factor. Downstream consumers showed limited interest in imports due to price disadvantages.
CapitalStars Investment Adviser 

Oil Prices Rise as U.S. Crude Inventories Fall to 3-Year Low -
Oil prices rose on Monday after data last week showed U.S. crude inventories fell to their lowest in three years. Trade dispute between the U.S. and China remained in focus.Official data showed on Thursday that inventories at Cushing, the delivery point for U.S. crude futures, fell to their lowest in 3-1/2 years. "Cushing is clearly screaming out for crude, with the prompt few months more than $2 backwardated," said Virendra Chauhan, an analyst at Energy Aspects in Singapore. The Organization of the Petroleum Exporting Countries (OPEC) and other countries agreed earlier this month to a moderate boost in output. Meanwhile, traders remain cautious over the trade conflict between the U.S. and China, although analysts said concerns that oil prices would be weighted down by the development have faded somewhat.
CapitalStars Investment Adviser 
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