Choice Commodity Research

Rupee Update The Indian rupee fell to record lows near 95.4 per dollar as rising oil prices, geopolitical tensions, weak inflows, and increased importer hedging pressured the currency, while exporters held back expecting further depreciation. -Choice Broking

Sumeet Bagadia’s Desk:Buy GOLDM|29MAY26 PE 149000.00 in Commodity @ 3224 SL 3090 TGT 3492.00

Geopolitical Update US intelligence agencies assess recent military action has caused only limited additional damage to Iran’s nuclear program, Reuters reported, leaving Tehran’s potential timeline to produce a weapon largely unchanged.

China orders firms to ignore US sanctions on Iranian oil China has, for the first time, invoked a law targeting companies that comply with foreign sanctions it rejects, escalating its pushback against US measures targeting purchases of Iranian crude. Impact: No major impact on crude oil. -Choice Broking

Global Commodity Heatmap Commodities show a broadly positive bias with strong gains in softs, led by cocoa (+7.98%) and sugar (+2.27%), while metals remain firm with modest upside across gold, copper, and palladium. Grains are mixed but slightly higher overall, with wheat and canola gaining. In contrast, the energy complex is under pressure, with crude oil, natural gas, and refined products declining. Livestock markets are weaker, while corn remains largely unchanged, indicating a steady tone in select agri segments.

Sumeet Bagadia’s Desk : Stopped Out @ 9922...Sell in Commodity CRUDEOILM|18MAY26 @ 9761 SL 9920 TGT 9443.00

Sumeet Bagadia’s Desk:Sell CRUDEOILM|18MAY26 in Commodity @ 9761 SL 9920 TGT 9443.00

10-Year Treasury Yield Rises to 4-Week Highs Again -Choice Broking

Bullion Update Bullion prices fell as Middle East tensions rose, with Iran reporting missile strikes near the Strait of Hormuz and inflation fears growing, keeping rate expectations elevated and pressuring precious metals. -Choice Broking

A U.S. official denied the reports of a strike on the ship. -Choice Broking

Two missiles hit US warship near Jask - IRGC media Two missiles hit a US warship near Iran’s Jask Island after it ignored Iranian warnings, IRGC-affiliated Fars News reported, citing local sources. -Choice Broking

Sumeet Bagadia’s Desk : Target Achieved @ 248900...Sell in Commodity SILVERMIC|30JUN26 @ 253033 SL 255000 TGT 249099.00

Crude Oil Update UAE energy minister: strategic reserve inventories have been drawn down, need to be refilled, so more output is needed. Impact: Positive for Crude oil. -Choice Broking

UAE trade minister: currency swap agreement with United States is under discussion Impact: Positive for dollar. -Choice Broking

Natural gas Update Russia's pipeline gas exports to Europe down 1.7% y/y in April. Impact: Positive for Natural gas. -Choice Broking

Aluminium Update LME aluminium stocks fell on April 30, with opening inventories down to 368,200 tonnes. Live warrants rose slightly, while cancelled warrants dropped 5.68 percent to 36,525 tonnes overall, reflecting weakness. Impact: Positive for aluminium. -Choice Broking