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1. 16-April-2019
Metals Update
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4. Metals Update
INTERNATIONAL COMMODITY NEWS
Oil prices edged down on Tuesday after a Russian minister said the nation and OPEC may boost crude output to fight for
market share, checking a recent sharp rally driven by tighter global production. Brent crude oil futures were at $71.08 a
barrel at 0111 GMT, down 10 cents, or 0.1 percent, from their last close. Brent ended down 0.5 percent on Monday. U.S.
West Texas Intermediate (WTI) crude futures were at $63.39 per barrel, down 2 cents, or 0.1 percent, from their previous
settlement. WTI fell 0.8 percent on Monday. Russian Finance Minister Anton Siluanov said over the weekend that Russia
and OPEC may decide to boost production to fight for market share with the United States, but this would push oil as low as
$40 per barrel. "There is a growing concern that Russia will not agree on extending production cuts and we could see them
officially abandon it in the coming months," said Edward Moya, senior market analyst, OANDA.
President Donald Trump said on Monday he believed the United States would emerge from its trade dispute with China
as a winner, no matter what happened. "We're going to win either way. We either win by getting a deal or we win by not
getting a deal," Trump said during a visit to a business roundtable in Burnsville, Minnesota. The world's two biggest
economies are nine months into a trade war that has cost billions of dollars, roiled financial markets and upended supply
chains. Trump's administration has slapped tariffs on $250 billion worth of imports of Chinese goods to press demands for
an end to policies that Washington says hurt U.S. companies competing with Chinese firms. China responded with its own
tit-for-tat tariffs on U.S. goods. Trump's Treasury secretary, Steven Mnuchin, said earlier on Monday that trade negotiators
are making a lot of progress. He told Fox Business Network there is more work to do, however, including enforcement.
Venezuela sold about $400 million in gold despite a growing international push to freeze the country’s assets, according
to two people with knowledge of the matter. The amount, which would equal almost 9 tons, was reflected by a drop in the
bank’s total reserves, which fell to $8.6 billion on April 12, according to data provided by the central bank. About $5.1 billion
of that is gold. A central bank press official didn’t immediately respond to requests for comment on the sale Monday. The
sale could mean President Nicolas Maduro has found a way to skirt the economic blockade. Maduro has blown through
reserves, selling gold to firms in the United Arab Emirates and Turkey, as sanctions increasingly cut off his authoritarian
regime from the global financial system.
Oil prices edged down on Tuesday after a Russian minister said the nation and OPEC may boost crude output to fight for
market share, checking a recent sharp rally driven by tighter global production. Brent crude oil futures were at $71.08 a
barrel at 0111 GMT, down 10 cents, or 0.1 percent, from their last close. Brent ended down 0.5 percent on Monday. U.S.
West Texas Intermediate (WTI) crude futures were at $63.39 per barrel, down 2 cents, or 0.1 percent, from their previous
settlement. WTI fell 0.8 percent on Monday. Russian Finance Minister Anton Siluanov said over the weekend that Russia
and OPEC may decide to boost production to fight for market share with the United States, but this would push oil as low as
$40 per barrel. "There is a growing concern that Russia will not agree on extending production cuts and we could see them
officially abandon it in the coming months," said Edward Moya, senior market analyst, OANDA.
President Donald Trump said on Monday he believed the United States would emerge from its trade dispute with China
as a winner, no matter what happened. "We're going to win either way. We either win by getting a deal or we win by not
getting a deal," Trump said during a visit to a business roundtable in Burnsville, Minnesota. The world's two biggest
economies are nine months into a trade war that has cost billions of dollars, roiled financial markets and upended supply
chains. Trump's administration has slapped tariffs on $250 billion worth of imports of Chinese goods to press demands for
an end to policies that Washington says hurt U.S. companies competing with Chinese firms. China responded with its own
tit-for-tat tariffs on U.S. goods. Trump's Treasury secretary, Steven Mnuchin, said earlier on Monday that trade negotiators
are making a lot of progress. He told Fox Business Network there is more work to do, however, including enforcement.
Venezuela sold about $400 million in gold despite a growing international push to freeze the country’s assets, according
to two people with knowledge of the matter. The amount, which would equal almost 9 tons, was reflected by a drop in the
bank’s total reserves, which fell to $8.6 billion on April 12, according to data provided by the central bank. About $5.1 billion
of that is gold. A central bank press official didn’t immediately respond to requests for comment on the sale Monday. The
sale could mean President Nicolas Maduro has found a way to skirt the economic blockade. Maduro has blown through
reserves, selling gold to firms in the United Arab Emirates and Turkey, as sanctions increasingly cut off his authoritarian
regime from the global financial system.
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advisory provider companies in the private sector.
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personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment
decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate
particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any
transaction conducted based on the information given in this report. The share price projections shown are not necessarily indicative of future price
performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research
might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does
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the information is the acceptance of this disclaimer. Investment in equity, futures, Forex and commodity market has its own risks. We, however, do not
vouch for the accuracy or the completeness thereof. We are not responsible for any loss incurred whatsoever for any financial profits or loss which may
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Metals Update
Epic Research is one of India’s largest Financial Advisory house. Epic Research is amongst leading and most valuable financial
advisory provider companies in the private sector.
DISCLAIMER
The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or
liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present
the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for
personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment
decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate
particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any
transaction conducted based on the information given in this report. The share price projections shown are not necessarily indicative of future price
performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research
might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does
not read any views ex-pressed as a recommendation for which either the site or its owners or anyone can be held responsible. Any surfing and reading of
the information is the acceptance of this disclaimer. Investment in equity, futures, Forex and commodity market has its own risks. We, however, do not
vouch for the accuracy or the completeness thereof. We are not responsible for any loss incurred whatsoever for any financial profits or loss which may
arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients
(Paid or Unpaid), any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with
anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.