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Last Updated : Oct 13, 2020 03:43 PM IST | Source: Moneycontrol.com

Base Metals Weekly Report: Motilal Oswal

According to Motilal Oswal, Industrial metals got a booster shot last week, with most metals surging to multi month highs after a brief correction.

Broker Research

Motilal Oswal's report on Base Metals Weekly


Industrial metals got a booster shot last week, with most metals surging to multi month highs after a brief correction. President Trump’s changing stance over the Covid relief package is keeping the prices volatile. Support comes in form of falling dollar which slid to its lowest in nearly three weeks and China back from holiday. Trump said talks with Congress about further financial aid for the U.S. economy hit by the COVID-19 crisis had resumed, after he ended negotiations earlier last week.


Outlook


After the recent run up and continued change in stance from the US President, view for this week will be bullish - but with caution. For the week focus markets will also scrutinise loans, total social financing and trade data due next week from China, which accounts for about half of global consumption of industrial metals.


For all commodities report, click here


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First Published on Oct 13, 2020 03:43 pm
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