Some commodity traders have ramped up withdrawals of zinc from London Metal Exchange warehouses in recent months. However, the drawdowns may not be to fulfill customers’ spot demand, which is almost non-existent, multiple sources and traders told Fastmarkets. Zinc stocks in LME warehouses in Asia have dwindled to as little as 41,950 tonnes as of Monday September 29. This is the lowest level since April 2023.
Forecast
Commodities Weekly Research Report Forecast and Prediction 21-05-18 To 25-05-18
Trend Sideways ⇒ Sell Gold MCX Between 31320 – 31420, Stop Loss (CBSL) – 31820 Target – 30860 ↔ 30544 ↔ 30380
Trend Sideways ⇒ Sell Silver MCX Between 40700 – 40900, Stop Loss (CBSL) – 41444, Target – 39780 ↔ 39280