Weekly Commodity Podcast With Ravindra Rao | 23rd Jan 2023

• Global risk appetite was limited in the previous week as economic growth concerns countered Chinese reopening optimism.• Commodities, U.S. Dollar and Yields traded range bound.• Dollar has been the major driving force for commodities that hit a fresh 7-month low.• The Bank of Japan unexpectedly kept its yield curve tolerance band unchanged.• U.S. retail sales fell 1.1% in December, whereas U.S. PPI fell by 0.5% in December.• COMEX gold prices rose to a fresh 9-month high of $1,939 per troy ounce.• COMEX Silver ended the week on a negative note, with prices falling 1.8%, to below $24 per troy ounce.• Gold prices might see some profit booking ahead of a slew of central bank meetings in early February, with major focus on FOMC meeting. In the case of silver, the medium-term prospects remain bullish.• WTI and Brent Crude closed 2% higher, mainly supported by Chinese demand optimism. • NYMEX Natural gas has reached the 252 DMA support which might trigger some profit taking and might push prices higher.• Most Base metals touched highest levels since June 2022 on improved demand prospects from China, world’s biggest consumer.• Investors may remain cautious this week ahead of several key data releases, especially from the U.S. Flash PMI figures may provide hints about economic activity in major global economies. • U.S. Advance GDP and Core PCE may be closely watched as these are the last crucial indicators before the FOMC statement on February 2.#commoditymarkets #commodities #commoditytrading #stockmarket #kotaksecurities #technicalanalysis #podcast