Latest news with #NaveenMathur
Time of India
20 hours ago
- Business
- Time of India
Gold price prediction today: Where is gold rate headed & is silver a better bet compared to yellow metal right now? Here's the outlook
Gold price prediction today: Gold rates may continue to be range-bound as geopolitical tensions ease and optimism mounts on possible US trade deals with countries on the extension of tariff deadline to August 1, 2025. Tired of too many ads? go ad free now Over the next few days silver may be the preferred option compared to gold, say experts. Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold investors: Gold price continued to face hurdles near $3350 since last week after the precious metal edged lower since last week as the US June Nonfarm Payrolls (NFP) report altered the US Federal Reserve (Fed) policy expectations. The US NFP came in stronger than expected, rising by 147,000 jobs in June from 144,000 in May (revised from 139,000). Additionally, the Unemployment Rate held steady at 4.1% in June. These reports indicated continued labor market resilience, reducing the possibility of the Fed's near-term monetary accommodation. This, in turn, underpins the US Dollar (USD) and exerts some selling pressure on the non-yielding assets like Gold. On the other hand, renewed geopolitics saw Israel military attacking Houthi targets at three ports and a power plant in Yemen. Defence Minister Israel Katz confirmed the attack, saying they were carried out due to repeated attacks by the Iranian-backed rebel group on Israel. However the same failed to bring in additional upside in prices. Traders brace for the Federal Open Market Committee (FOMC) Minutes later on Wednesday for fresh impetus. Tired of too many ads? go ad free now Gold traders could also closely monitor the developments surrounding tariff policies amid renewed geopolitical tensions seen in the Middle East. Many major US trading partners are seen hurrying to secure deals, with Commerce Secretary Howard Lutnick telling reporters on Sunday that country-by-country tariffs will take effect August 1. While an interim accord with India was also expected to be reached, trade related uncertainties are seen easing in weeks ahead. US President Donald Trump's consistent tariff threats have temporarily muted demand for the yellow metal while supporting the demand for the Greenback. The president has announced new tariffs on countries, with Japan at 25% and South Korea at 30% standing out. He has also given a new deadline, August 1, instead of July 9. Overall broad trend could remain sideways to cautious at higher levels amid Fed meeting minutes due Wednesday night could remain the next major trigger which may also provide clues on timing of rate cuts with most members seen to favor rate cuts starting September. On the other hand, Silver could remain a preferred bet for coming month as compared to gold as Silver-backed ETFs now stand at the highest since mid-2022, after enjoying net inflows for the past eight weeks witnessing the longest run in almost a half-decade Gold Price Outlook Gold Price Weekly View: Sideways to Downside Spot Gold could broadly trade in a narrow range of $ 3350 – 3270/oz (CMP $ 3310) till next week as most trade related uncertainties are seen easing now while US macro cues could remain in focus ahead. On MCX this could translate to a trading range of Rs 97,650 – 95,230 / 10 gm in Aug futures contract.(CMP Rs 96,460 / 10 gm) (Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
Economic Times
18-06-2025
- Business
- Economic Times
Commodity Radar: MCX crude oil futures cross 200-DMA amid Israel-Iran tension. Can it breach this crucial resistance zone?
Tight inventories and a declining number of operational oil rigs have kept the prices in a positive territory throughout June, so far. Synopsis Crude oil prices are on an upswing amid escalating Israel-Iran tensions, tight inventories, and declining rig counts. Naveen Mathur of Anand Rathi says prices could stay elevated unless tensions ease. With key resistance at Rs 6,300 and global volatility, oil remains bullish despite intermittent profit booking. Amid growing geopolitical unrest between Israel and Iran, oil prices are back in their 70s and concerns over disruptions at the Strait of Hormuz and targeted energy infrastructure, combined with declining oil rigs and tepid OPEC supply, are pushing prices higher, Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers said. He sees that market sentiment remains bullish unless tensions ease significantly. Edited excerpts: ADVERTISEMENT Crude oil futures were trading in the green on Wednesday, notwithstanding some profit booking in the international markets. Crude oil prices have firmed up on Israel-Iran tensions, and there is a view in certain sections that the prices could double to $150 per barrel. The July crude oil futures were trading at Rs 6,324 per bbl on the MCX, gaining Rs 25 or 0.4% over the previous closing. Meanwhile, on the COMEX, crude oil contracts were trading around $74.54 per bbl, declining by $0.30 or 0.40%. Brent oil futures were down by $0.44 or 0.58% and hovering near the $76.01 mark. Commenting on the current trends, Naveen Mathur, Director - Commodities & Currencies at Anand Rathi Shares and Stock Brokers said that the geopolitical tensions have once again gripped oil markets, this time driven by the escalating Israel-Iran conflict and the potential for supply disruptions, which have acted as a catalyst for oil's dramatic 10% price rise over the last five days. Moreover, tight inventories and a declining number of operational oil rigs have kept the prices in a positive territory throughout June, so far. 'The recent escalation in tensions has added fuel to the rally, with prices up nearly 20% so far this month. There is a heightened risk to Iran's oil output (OPEC's third-largest producer), and potential disruptions around the Strait of Hormuz—through which roughly 20% of global oil shipments pass—are fueling volatility. The fact that both sides have targeted energy infrastructure is a clear cause for concern, with the key export hub of Kharg Island and oilfields in Iraq potentially at risk. However, the threat to block the Strait of Hormuz remains the biggest wild card,' Mathur added. ADVERTISEMENT Mathur highlighted that oil rigs continue to decline and are now at their lowest level in four years. Moreover, despite OPEC's announcement of an aggressive unwinding of production cuts, the actual output increase in May was much lower than expected. 1. Key levels: Resistance & Support ADVERTISEMENT MCX Crude Oil is displaying a bullish trend as it trades above the 200-Daily Moving Average (DMA) at Rs 5,846, though it faces a significant resistance level at Rs 6,100, and a breakout above this could trigger further upside momentum, the Anand Rathi expert resistance levels are seen at 6300, 6460, and 6850, while support is placed at 6011, 5840, and 5700. 2. Moving Averages: A positive crossover of the 21 and 50 Daily Moving Averages reinforces the bullish sentiment. ADVERTISEMENT The MACD indicator continues to trend above the zero line, adding strength to the upward Crude Oil is approaching a crucial zone between $70 and $73, with $68 acting as a strong support level for a potential upside rally towards $75–$78. Additional support levels are identified at $65.90, $64, and $62.40. Also Read: Commodity Radar: Copper gets a Chinese glow. Is it time to mine profits? ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
18-06-2025
- Business
- Time of India
Commodity Radar: MCX crude oil futures cross 200-DMA amid Israel-Iran tension. Can it breach this crucial resistance zone?
Live Events Tech View 2 things to watch out for Outlook (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Amid growing geopolitical unrest between Israel and Iran, oil prices are back in their 70s and concerns over disruptions at the Strait of Hormuz and targeted energy infrastructure, combined with declining oil rigs and tepid OPEC supply, are pushing prices higher, Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers said. He sees that market sentiment remains bullish unless tensions ease significantly. Edited excerpts:Crude oil futures were trading in the green on Wednesday, notwithstanding some profit booking in the international markets. Crude oil prices have firmed up on Israel-Iran tensions, and there is a view in certain sections that the prices could double to $150 per July crude oil futures were trading at Rs 6,324 per bbl on the MCX, gaining Rs 25 or 0.4% over the previous on the COMEX, crude oil contracts were trading around $74.54 per bbl, declining by $0.30 or 0.40%. Brent oil futures were down by $0.44 or 0.58% and hovering near the $76.01 on the current trends, Naveen Mathur, Director - Commodities & Currencies at Anand Rathi Shares and Stock Brokers said that the geopolitical tensions have once again gripped oil markets, this time driven by the escalating Israel-Iran conflict and the potential for supply disruptions, which have acted as a catalyst for oil's dramatic 10% price rise over the last five tight inventories and a declining number of operational oil rigs have kept the prices in a positive territory throughout June, so far.'The recent escalation in tensions has added fuel to the rally, with prices up nearly 20% so far this month. There is a heightened risk to Iran's oil output (OPEC's third-largest producer), and potential disruptions around the Strait of Hormuz—through which roughly 20% of global oil shipments pass—are fueling volatility. The fact that both sides have targeted energy infrastructure is a clear cause for concern, with the key export hub of Kharg Island and oilfields in Iraq potentially at risk. However, the threat to block the Strait of Hormuz remains the biggest wild card,' Mathur highlighted that oil rigs continue to decline and are now at their lowest level in four despite OPEC's announcement of an aggressive unwinding of production cuts, the actual output increase in May was much lower than Crude Oil is displaying a bullish trend as it trades above the 200-Daily Moving Average (DMA) at Rs 5,846, though it faces a significant resistance level at Rs 6,100, and a breakout above this could trigger further upside momentum, the Anand Rathi expert resistance levels are seen at 6300, 6460, and 6850, while support is placed at 6011, 5840, and 5700.A positive crossover of the 21 and 50 Daily Moving Averages reinforces the bullish MACD indicator continues to trend above the zero line, adding strength to the upward Crude Oil is approaching a crucial zone between $70 and $73, with $68 acting as a strong support level for a potential upside rally towards $75–$78. Additional support levels are identified at $65.90, $64, and $ Read: Commodity Radar: Copper gets a Chinese glow. Is it time to mine profits? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
11-06-2025
- Business
- Time of India
Commodity Radar: Rally accelerates as crude oil prices jump 10% in a month. Know why to hold your horses
Although crude oil prices are currently buoyed by tight supply and positive sentiment, the outlook for the second half of 2025 is clouded by the prospect of rising supply and persistent demand-side risks, says Naveen Mathur, Director - Commodities & Currencies at Anand Rathi Shares and Stock Brokers. Edited excerpts: Crude oil futures were trading lackluster on the MCX in the early trade on Wednesday, taking cues from the prices in the international markets. The trade remains subdued as investors prefer to remain cautious amid the US-China trade talks whose outcomes are yet to become clear. Prices were up on Tuesday as negotiations were into their second day. There is an anticipation of a deal between the two largest oil consuming economies. The MCX June contracts were trading around Rs 5,584 per bbl in the early trade, marginally higher by Re 1 or 0.02% over the previous closing price. On the COMEX, the US WTI oil futures were trading at $64.83 per bbl, losing by $0.15 or 0.23% while the Brent Oil contracts were down by $ 0.170 or 0.250% at $66.70. Commenting on the recent trends in the oil markets, Naveen Mathur, Director - Commodities & Currencies at Anand Rathi Shares and Stock Brokers said that crude oil prices have risen almost 10% so far this month driven by a tightening of spot markets amid peak seasonal demand, declining rig counts, US–China trade talk optimism and the ongoing geopolitical tensions. 'Despite OPEC+ raising production quotas since April, actual increases in supply have trailed official targets and thus inventories continue to remain tight. The U.S. oil rig count fell by 9 last week to 442—the lowest since October 2021, as shale producers cut activity amid crude prices in the low $60s, weak demand outlook, and OPEC+ output hike plans,' Mathur said. Saudi Arabia is pushing OPEC+ to accelerate oil supply hikes in August but a slew of data points, including refinery throughput, cargo exports, pipeline flows, and indications of stockpiling does not indicate any major restoration of output by Saudi Arabia. Saudi Arabia's state oil firm Saudi Aramco will ship about 47 million barrels to China in July, a tally of allocations to Chinese refiners showed, 1 million barrels less than June's allotted volume. A Reuters survey found that OPEC oil output rose in May, although the increase was limited as Iraq pumped below target to compensate for earlier overproduction and Saudi Arabia and the United Arab Emirates made smaller hikes than allowed. Tech View MCX crude Oil has showcased strong bullish momentum with a significant breakout above the horizontal trend line at Rs 5,500, suggesting potential upside levels of Rs 5,717–6,035, the Anand Rathi expert said while highlighting that a positive crossover of the 21-day and 50-day moving averages further confirms a robust bullish trend. In his view, momentum indicators like MACD remain favorable, sustaining above the zero line, which strengthens the outlook. Trading strategy Despite supportive near term fundamentals, one needs to stay cautious in crude oil as the market is expected to be in surplus later this year due to a Saudi-led output surge and increasing production from outside OPEC+, Mathur warns. On the other hand, the US leading indicator has stayed below zero (-4 in April) for 34 months, signaling potential downside for oil prices amid rising stagflation risks, weak Chinese recovery, and uncertainty from US tariffs—all pointing to softer oil demand. Key support for MCX crude oil lies at Rs 5,430–5,320, where any retracement could find a strong base for a rebound, Mathur said. Similarly, international benchmark WTI Crude Oil has broken past the critical resistance at $65, paving the way for further gains towards $68.20–$70.58, he said, adding that the support zone between $65 and $63.44 underpins this uptrend, ensuring stability. Both benchmarks reflect positive sentiment driven by technical factors, highlighting a strong potential for upward movement in the crude oil market. Also Read: Commodity Radar: Sell gold on rise as yellow metal consolidates. 5 technical factors to watch out for
Economic Times
11-06-2025
- Business
- Economic Times
Commodity Radar: Rally accelerates as crude oil prices jump 10% in a month. Know why to hold your horses
Although crude oil prices are currently buoyed by tight supply and positive sentiment, the outlook for the second half of 2025 is clouded by the prospect of rising supply and persistent demand-side risks, says Naveen Mathur, Director - Commodities & Currencies at Anand Rathi Shares and Stock Brokers. Edited excerpts: ADVERTISEMENT Crude oil futures were trading lackluster on the MCX in the early trade on Wednesday, taking cues from the prices in the international markets. The trade remains subdued as investors prefer to remain cautious amid the US-China trade talks whose outcomes are yet to become clear. Prices were up on Tuesday as negotiations were into their second day. There is an anticipation of a deal between the two largest oil consuming economies. The MCX June contracts were trading around Rs 5,584 per bbl in the early trade, marginally higher by Re 1 or 0.02% over the previous closing price. On the COMEX, the US WTI oil futures were trading at $64.83 per bbl, losing by $0.15 or 0.23% while the Brent Oil contracts were down by $ 0.170 or 0.250% at $66.70. Commenting on the recent trends in the oil markets, Naveen Mathur, Director - Commodities & Currencies at Anand Rathi Shares and Stock Brokers said that crude oil prices have risen almost 10% so far this month driven by a tightening of spot markets amid peak seasonal demand, declining rig counts, US–China trade talk optimism and the ongoing geopolitical tensions. ADVERTISEMENT 'Despite OPEC+ raising production quotas since April, actual increases in supply have trailed official targets and thus inventories continue to remain tight. The U.S. oil rig count fell by 9 last week to 442—the lowest since October 2021, as shale producers cut activity amid crude prices in the low $60s, weak demand outlook, and OPEC+ output hike plans,' Mathur said. Saudi Arabia is pushing OPEC+ to accelerate oil supply hikes in August but a slew of data points, including refinery throughput, cargo exports, pipeline flows, and indications of stockpiling does not indicate any major restoration of output by Saudi Arabia. ADVERTISEMENT Saudi Arabia's state oil firm Saudi Aramco will ship about 47 million barrels to China in July, a tally of allocations to Chinese refiners showed, 1 million barrels less than June's allotted volume. A Reuters survey found that OPEC oil output rose in May, although the increase was limited as Iraq pumped below target to compensate for earlier overproduction and Saudi Arabia and the United Arab Emirates made smaller hikes than allowed. Tech View ADVERTISEMENT MCX crude Oil has showcased strong bullish momentum with a significant breakout above the horizontal trend line at Rs 5,500, suggesting potential upside levels of Rs 5,717–6,035, the Anand Rathi expert said while highlighting that a positive crossover of the 21-day and 50-day moving averages further confirms a robust bullish trend. In his view, momentum indicators like MACD remain favorable, sustaining above the zero line, which strengthens the strategy ADVERTISEMENT Despite supportive near term fundamentals, one needs to stay cautious in crude oil as the market is expected to be in surplus later this year due to a Saudi-led output surge and increasing production from outside OPEC+, Mathur warns. On the other hand, the US leading indicator has stayed below zero (-4 in April) for 34 months, signaling potential downside for oil prices amid rising stagflation risks, weak Chinese recovery, and uncertainty from US tariffs—all pointing to softer oil demand. Key support for MCX crude oil lies at Rs 5,430–5,320, where any retracement could find a strong base for a rebound, Mathur international benchmark WTI Crude Oil has broken past the critical resistance at $65, paving the way for further gains towards $68.20–$70.58, he said, adding that the support zone between $65 and $63.44 underpins this uptrend, ensuring stability. Both benchmarks reflect positive sentiment driven by technical factors, highlighting a strong potential for upward movement in the crude oil market. Also Read: Commodity Radar: Sell gold on rise as yellow metal consolidates. 5 technical factors to watch out for (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
