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Navneet Damani

VP-Commodity Research

Motilal Oswal Financial Services Limited

Navneet Damani is the VP-Commodity Research at Motilal Oswal Financial Services Limited.

Copper prices touch 6-week high; Nickel prices highest in 5 months

BUSINESS

Copper prices touch 6-week high; Nickel prices highest in 5 months

The narrative for nickel has moved from nickel being a tight battery grade metal market to simply a tight refined metal market.

Natural gas prices can climb higher given supply and demand situation in two key export markets

BUSINESS

Natural gas prices can climb higher given supply and demand situation in two key export markets

The market is expecting intense heat over the next two months which potentially will push prices further towards the $5 level.

Economic data points including PMI, US GDP to decide gold price trend this week

BUSINESS

Economic data points including PMI, US GDP to decide gold price trend this week

Market participants are of the view that the US Fed might use the Jackson Hole symposium, in the summer, as a platform to announce its tapering actions

Crude Oil: COVID concerns India, Japan is disrupting demand-supply equation

BUSINESS

Crude Oil: COVID concerns India, Japan is disrupting demand-supply equation

For oil, prices will remain stuck in a range, with optimism around global inventories rebalancing being offset by constant reminders that parts of the world remain far from a full recovery from the pandemic.

Akshaya Tritiya to boost demand for gold: Navneet Damani of Motilal Oswal

BUSINESS

Akshaya Tritiya to boost demand for gold: Navneet Damani of Motilal Oswal

Investment in gold witnessed an inflow for the week ended May 9, 2021 and holdings currently stand at around 1,019 tonnes compared to holding of around 1,017 tonnes in the previous week.

Bumpy road ahead for crude oil as world economies reopen at varying pace

BUSINESS

Bumpy road ahead for crude oil as world economies reopen at varying pace

For the time, WTI prices can look to trade in the $60-$65 range until there is a clear sign of resumption in international passenger aviation.

Economic calendar can trigger volatility in gold but trend remains positive

BUSINESS

Economic calendar can trigger volatility in gold but trend remains positive

A cautious approach is advisable as gold is expected to trade with a sideways to positive bias in the short to medium term.

Oil markets will have to live with the pandemic for another year

BUSINESS

Oil markets will have to live with the pandemic for another year

Oil markets are heading for a volatile week and it looks like it will be a very noisy week as well.

Stronger dollar, uncertainty over demand cloud outlook for oil

BUSINESS

Stronger dollar, uncertainty over demand cloud outlook for oil

Oil is in for a choppy trade with market participants monitoring the pace of vaccination and the nuclear deal talks to see when Iranian crude can be made available.

Gold price down over 20%, but likely to march towards record high again as factors remain favourable

BUSINESS

Gold price down over 20%, but likely to march towards record high again as factors remain favourable

We have been bullish on gold from Rs 31,000 level since the last quarter of 2018 when we came up with a longer-term target of Rs 60,000 from an 18-24 month perspective.

Volatility in USD/INR pair to remain elevated, all eyes on US Fed outcome

BUSINESS

Volatility in USD/INR pair to remain elevated, all eyes on US Fed outcome

For the week, the USD/INR (Spot) to trade with a positive bias and quote in the range of Rs 72.20 and Rs 73.10

Rally in oil prices not justified by fundamentals as demand recovery globally remains a major concern: Navneet Damani of MOSFL

BUSINESS

Rally in oil prices not justified by fundamentals as demand recovery globally remains a major concern: Navneet Damani of MOSFL

Looking at the current rally, it seems like the current price rally is unwarranted and begs for a correction, as demand is not predicted to recover substantially until around the third quarter.

OPEC+ decision looms as a major risk for oil market, but prices still expected to rise

BUSINESS

OPEC+ decision looms as a major risk for oil market, but prices still expected to rise

The market still faces lingering near-term risks to global reopening efforts. All eyes are now on the upcoming OPEC+ meeting

'Crude trend hints buy on dips, prices can still go higher from here'

BUSINESS

'Crude trend hints buy on dips, prices can still go higher from here'

Crude oil prices further supported by a much higher-than-expected crude inventory draw.

'Cautiously bullish on copper, medium-term prospects for nickel to remain positive'

BUSINESS

'Cautiously bullish on copper, medium-term prospects for nickel to remain positive'

The current rally in copper prices seems to be getting stronger, but any negative news could lead to wild swing in the metal.

'Uncertainty over US economic recovery, rising amounts of fiscal aid to create strong floor for gold prices'

BUSINESS

'Uncertainty over US economic recovery, rising amounts of fiscal aid to create strong floor for gold prices'

Duty cuts in Budget 2021 will negatively impact gold prices although fundamentals and uncertainties would continue to create a strong floor.

Be cautious, industrial metals likely to be under some pressure in short term

BUSINESS

Be cautious, industrial metals likely to be under some pressure in short term

Copper supplies are likely to rise this year as COVID-related problems are expected to come to an end, but with prices at elevated levels the potential for disruptions remains as mine workers seek higher wages.

Maintain caution, gold price could trade sideways with a lower bias

BUSINESS

Maintain caution, gold price could trade sideways with a lower bias

Investment in gold decreased for the week ended January 17, and holdings stand at around 1,161 tonnes compared to around 1,182 tonnes in the previous week.

Crude gains look questionable as market can turn attention back to fuel demand issues in coming weeks

BUSINESS

Crude gains look questionable as market can turn attention back to fuel demand issues in coming weeks

Severe mobility restrictions around the world to contain a surge in COVID cases still weighed on fuel sales, weakening prospects of energy demand recovery in the first half of 2021.

Four key factors that will drive gold prices in January

BUSINESS

Four key factors that will drive gold prices in January

There are just few weeks before the next leader of US takes oath, hence any comments from the new President could trigger volatility in the market.

Crude gains still questionable as spreading virus, lockdowns weigh on demand

BUSINESS

Crude gains still questionable as spreading virus, lockdowns weigh on demand

Crude oil upside looks limited and correction looks possible as sentiments have gone farfetched without any fundamental support.

Expect gold to trade sideways to positive this week, maintain a cautious approach: Navneet Damani of Motilal Oswal

BUSINESS

Expect gold to trade sideways to positive this week, maintain a cautious approach: Navneet Damani of Motilal Oswal

With the vaccine developments and updates, market participant's eyes are also set on the "new" stimulus bill which will continue to give a boost to the market sentiment.

Base metals overheated, profit-taking after a strong rally hardly a surprise

BUSINESS

Base metals overheated, profit-taking after a strong rally hardly a surprise

Copper has been buoyed by bullish developments, including strong demand from China and possible supply problems.

Crude can hit $50; pullback a buying opportunity: Navneet Damani

BUSINESS

Crude can hit $50; pullback a buying opportunity: Navneet Damani

The fact that Asian countries are recovering from coronavirus has been one bright spot. The trend is likely to continue and be the biggest single driver for demand, at least in the short term.

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