Weekly Commodity Podcast With Ravindra Rao | 17th April 2023

Commodity Market Analysis and Outlook - 17th April - 21st April, 20231. Another busy week ended with most commodities ending higher except gold.2. Softening U.S. dollar amid expectations that the Federal Reserve will soon end its campaign of interest rate rises have bolstered demand for commodities.3. Gold whipsawed as it started the week on a bearish note, recovered after the softer inflation print from US, but fell on the last session of the week to end with weekly loss4. Silver futures has outshined gold over the last few weeks surging to a one-year high of $26.23/oz. 5. Outlook for both the metals remain bullish in the medium to long term.6. On the price action front, COMEX Gold might take resistance near $2078/oz which is a double top, whereas Silver’s rally might take a pause near $26.50/oz. 7. Crude oil continued to sparkle this week and jumped to the highest levels since November as supply tightness concerns and positive outlook by IEA and EIA.8. Copper prices edged higher and touched a seven-week high on Friday amid demand hopes and US Dollar weakness after the easing in US inflation.9. This week will be much softer in terms of US economic data other than flash PMI’s. In Asia, a busy week will be headlined by Chinese GDP growth figures for the first quarter, industrial production, retail sales.Find out in our commodity outlook and trading strategy for Gold, Silver, Crude Oil, and base metals.