📌 Bullion & Energy Market Update

Advisory Bazaar Info Services

🔹 Bullion

• Bullion contracts may trade on a positive path as gold prices scaled a record peak on Tuesday, supported by a weaker dollar.

• The Federal Reserve meeting this week is expected to result in an interest rate cut.

• Gold (Oct) may trade in the range of 109600–110500.

• Silver (Dec) may trade in the range of 128500–130500.

• The dollar remained near a 2.5-month low against the euro and a 10-month low against the Australian dollar.

• US President Donald Trump urged Fed Chair Jerome Powell for a “large” rate cut.

• SPDR Gold Trust holdings rose to 976.80 tons on Monday, compared to 974.80 tons on Friday.

• Meanwhile, the US appeals court on Monday rejected Trump’s request to remove Fed Governor Lisa Cook, deepening the legal dispute over the Fed’s independence.

🔹 Energy

• Crude oil may trade in the range of 5540–5630. After Monday’s gains, prices remained stable in early Tuesday trading.

• Drone attacks by Ukraine on Russian refineries raised concerns about supply disruptions.

• Ukraine has intensified attacks on Russia’s energy infrastructure to weaken its war capabilities.

• US Treasury Secretary Scott Besant said Washington will not impose extra tariffs on China for buying Russian oil unless European countries levy heavy tariffs on China and India.

• Natural Gas may trade in the range of 260–270.