Choice Commodity Research

Global Market Update • Iran's conflict has escalated into its third week, with oil prices fluctuating due to regional tensions. • The US conducted airstrikes on Kharg Island, Iran's key oil-export hub, threatening further attacks on energy infrastructure affecting the Strait of Hormuz. • Defense Secretary Pete Hegseth announced extensive US strikes, reinforcing the blockade of the Strait of Hormuz amid concerns of global stagflation. • President Trump has urged seven nations to deploy warships to the Strait, but has not secured any commitments. • Iran's Foreign Minister, Abbas Araghchi, asserts that the Strait of Hormuz is open to all but US and Israeli ships. • The dollar index remains high, driven by rising energy costs and inflation worries, impacting Federal Reserve interest rate expectations. • The Federal Reserve is anticipated to maintain its policy rate this week, alongside decisions from several other central banks globally. • The IEA announced a record release of 400 million barrels of oil, with immediate availability in Asia. • In China, retail sales increased by 2.8% year-on-year in early 2026, surpassing expectations. • China's industrial production rose by 6.3% year-on-year in the combined January–February 2026 period. However, new home prices in China fell the most in eight months. • US-China trade discussions began in Paris, focusing on potential agreements in agriculture and managed trade ahead of a key meeting between Trump and Xi Jinping. -Choice Broking

*The yellow metal dips for the second week in a row as investors bet on the greenback* 👉Read Choice Broking's detailed Analyst View & Media Coverage -Aamir Makda, Commodity & Currency Analyst, Choice Broking https://www.thehindubusinessline.com/markets/gold/gold-loses-sheen-as-dollar-gains-strength/article70740025.ece/amp/ https://www.thehindubusinessline.com/markets/gold/gold-loses-sheen-as-dollar-gains-strength/article70740025.ece/amp/ https://www.ptinews.com/story/business/silver-gold-fall-up-to-4-pc-in-delhi-on-strong-dollar-rate-cut-uncertainty/3463550 https://www.newsdrum.in/business/silver-gold-fall-up-to-4-pc-in-delhi-on-strong-dollar-rate-cut-uncertainty-11210315 https://www.dailyexcelsior.com/silver-gold-fall-up-to-4-pc-in-delhi-on-strong-dollar-rate-cut-uncertainty/ https://www.ndtvprofit.com/markets/gold-silver-prices-crash-up-to-4-in-delhi-as-strong-us-dollar-weighs-on-global-markets-11211488

Sumeet Bagadia’s Desk : Stopped Out @ 8933...Buy in Commodity CRUDEOIL|19MAR26 @ 8983 SL 8937 TGT 9075.00

Sumeet Bagadia’s Desk:Sell COPPER|31MAR26 in Commodity @ 1186.7 SL 1188.7 TGT 1182.70

Sumeet Bagadia’s Desk : Exit @ 324.25...Buy in Commodity ZINC|31MAR26 @ 324.05 SL 323.45 TGT 325.25

Sumeet Bagadia’s Desk:Buy CRUDEOIL|19MAR26 in Commodity @ 8983 SL 8937 TGT 9075.00

Sumeet Bagadia’s Desk:Buy ZINC|31MAR26 in Commodity @ 324.05 SL 323.45 TGT 325.25

Sumeet Bagadia’s Desk : Stopped Out @ 347.1...Sell in Commodity ALUMINIUM|31MAR26 @ 346.25 SL 347 TGT 344.75

Sumeet Bagadia’s Desk:Sell ALUMINIUM|31MAR26 in Commodity @ 346.25 SL 347 TGT 344.75

*JOLTS Job Openings* Actual: 6.95M Forecast: 6.76M Previous: 6.54M *Prelim UoM Consumer Sentiment* Actual: 55.5 Forecast: 55.0 Previous: 56.6 *Prelim UoM Inflation Expectations* Actual: 3.4% Previous: 3.4% Data is Negative for bullion

Sumeet Bagadia’s Desk : Stopped Out @ 271021...Buy in Commodity SILVERMIC|30APR26 @ 273425 SL 271198 TGT 277879.00

Sumeet Bagadia’s Desk:Buy SILVERMIC|30APR26 in Commodity @ 273425 SL 271198 TGT 277879.00

Sumeet Bagadia’s Desk : Target Achieved @ 325.2...Buy in Commodity ZINC|31MAR26 @ 324 SL 323.4 TGT 325.20

Sumeet Bagadia's Desk: Book Part Profit in CRUDEOIL Calendar Spread Approx. Profit of Rs. 3000 at cmp

*US Core PCE Price Index m/m* Actual : 0.4% Forecast : 0.4% Prev.: 0.4% Impact : Neutral for Bullion *US Prelim GDP q/q* Actual : 0.7% Forecast : 1.5% Prev.: 1.4% Impact : Positive for Bullion *US Core Durable Goods Orders m/m* Actual : 0.4% Forecast : 0.5% Prev.: 1.0% Impact : Positive for Bullion *US Durable Goods Orders m/m* Actual : 0.0% Forecast : 1.2% Prev.: -1.4% Impact : Positive for Bullion *US Personal Spending m/m* Actual : 0.4% Forecast : 0.3% Prev.: 0.4% Impact : Negative for Bullion *US Prelim GDP Price Index q/q* Actual : 3.8% Forecast : 3.6% Prev.: 3.6% Impact : Negative for Bullion

Sumeet Bagadia’s Desk : Stopped Out @ 17.55...Buy in Commodity NATURALGAS|24MAR26 CE 310.00 @ 19.65 SL 17.6 TGT 23.75

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in GOLDM|26MAR26 PE 155000.00

Sumeet Bagadia’s Desk : Stopped Out @ 345.55...Buy in Commodity ALUMINIUM|31MAR26 @ 346.25 SL 345.65 TGT 347.45