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28 MARCH 2016
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COMMODITY CONTRACT OPEN PRICE HIGH LOW CLOSE PRICE OPEN INTEREST
ALUMINIUM -9525
COPPER -1150
LEAD +0
NICKEL -108
ZINC -1100
Symbol Expiry Date LTP Value (In Lacs) Volume (In Lots)
Oil prices rose on Tuesday, supported by a weak dollar, but Brazilian President Michel Temer is resisting calls from his
crude continued to be weighed down by surging U.S. produc- economic team to implement hefty tax hikes to meet the gov-
tion and uncertainty over whether an OPEC-led supply cut is ernment's fiscal deficit goal this year, an official familiar with
big enough to rebalance the market.Prices for front-month the matter said on Monday.Temer's economic team, led by Fi-
Brent crude futures (LCOc1), the international benchmark for nance Minister Henrique Meirelles, has proposed 14 billion
oil, had gained 20 cents from their last close to $50.95 per bar- reais ($4.6 billion) in tax increases and a spending freeze of 30
rel by 0320 GMT.In the United States, West Texas Intermedi- billion reais, a second government official said on Monday.The
ate (WTI) crude futures (CLc1) were up 24 cents at $47.97 a official, who asked not to be named because he was not allowed
barrel.Traders said crude futures were receiving some support to speak publicly, said Temer has agreed to raise the Pis/Cofins
from a weak dollar.The greenback has lost 2.9 percent in value social security levies, but disagrees with hiking other du-
against a basket of other leading currencies (DXY) since its ties.Meirelles is considering hiking the IOF financial transac-
March peak on doubts over U.S. President Donald Trump's tions tax on specific operations as well raising the CIDE fuel tax.
ability to push through his economic agenda. He also said the government could roll back a series of payroll
tax breaks.
Gold prices dipped in Asia on Tuesday as investors mulled re-
newed demand prospects from China following data that The White House will take a lead role in crafting legislation to
showed China's net-gold imports via main conduit Hong Kong overhaul the U.S. tax code, eyeing an August target date as
surged 50.8% month-on-month in February.China and India President Donald Trump seeks his first legislative victory fol-
vie as the world's top gold importers, though restriction on lowing the failure last week of a long-promised bill to undo
imports in India have hit demand. In China, restrictions on Obamacare.Trump's pledge to cut taxes, including a lowering of
currency exchanged aimed at slowing the pace of a yuan the rates paid by corporations, was a pillar of his 2016 presiden-
weakening may also be prompting demand for gold.Gold for tial campaign and provided much of the fuel for the heady stock
April delivery on the Comex division of the New York Mer- market rally that followed his Nov. 8 victory.The White House
cantile Exchange eased 0.19% to $1,253.35 a troy ounce, said on Monday it was moving ahead with tax reform, calling it
while copper dipped 0.15% to $2.633 a pound as supply con- a "huge priority" for the Republican president and "something
cerns wane after strikes in the settlement lasst week of strikes that he feels very strongly about.""Obviously, we're driving the
at major mines in Chile and Indonesia.Overnight, gold prices train on this," White House spokesman Sean Spicer said during
traded higher on Monday, as investors raised concerns over a briefing, adding, "We're going to work with Congress on this."
President Trumps ability to deliver on his pro-growth poli-
cies, after the Trump administration failed to push a health
care bill through congress on Friday.
COMMODITY HEADLINES
GOLD
SILVER
05:20 JPY Corporate Services Price Index (CSPI) (YoY) 0.5% 0.5%
20:00 USD Dallas Fed Mfg Business Index (Mar) 22.0 24.5
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DN: cn=Rinku Lathi c=IN
Investment in equity & bullion market has its own risks. Rinku o=Personal
Reason: I am the author of this
document
Lathi Location:
Date: 2017-03-28 09:23+05:30
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