Choice Commodity Research

Global Market Update * Ongoing tensions in the Middle East have increased uncertainty regarding potential interest rate cuts this year. * Oil prices have risen, with Brent futures surpassing $110 per barrel, following missile strikes by Iran on a Qatari facility housing the largest LNG export plant. * The strikes signify a significant escalation and raise concerns over prolonged disruptions in oil and LNG traffic through the Strait of Hormuz, which is critical for global oil supply. * Trump asserted that there will be no further Israeli strikes on the South Pars Field unless provoked by Iran, while also stating the U.S. was unaware of the Israeli attack. * The U.S. central bank maintained its policy rate but indicated potential inflationary pressures due to the Iran conflict. * Despite indications of inflation concerns, the Fed projects one rate cut this year when inflation subsides. * U.S. producer prices increased more than anticipated in February. * The dollar strengthened in response to the Fed's hawkish outlook, staying above the 100 level. * To address supply chain issues, the U.S. will issue a 60-day waiver of the Jones Act and release 172 million barrels from strategic reserves. * The UN Maritime Body has called for emergency talks regarding shipping risks in the Gulf. * The U.K. government announced a 60% reduction in tariff-free steel imports, raising tariffs on excess imports to 50%, aligning with U.S. and EU trade measures amid rising global trade tensions. -Choice Broking

*US Federal Funds Rate* Actual : 3.75% Forecast: 3.75% Prev.: 3.75% Impact : Neutral for Bullion

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in ALUMINIUM|31MAR26

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in NATURALGAS|24MAR26 CE 290.00

Sumeet Bagadia’s Desk : Book Part Profit @ 10.8...Buy in Commodity NATURALGAS|24MAR26 CE 290.00 @ 9.85 SL 8.5 TGT 12.55

US Crude Oil Inventories Actual : 6.2M Forecast: -1.5M Prev.: 3.8M Impact : Negative for Crude Oil US Distillate Inventories Actual : -2.5M Forecast: -1.5M Prev.: -1.3M Impact : Positive for Crude Oil US Gasoline Inventories Actual : -5.4M Forecast: -2.0M Prev.: -3.7M Impact : Positive for Crude Oil

Sumeet Bagadia’s Desk:Buy NATURALGAS|24MAR26 CE 290.00 in Commodity @ 9.85 SL 8.5 TGT 12.55

*Bank of Canada (BOC) kept its Interest rate unchanged at 2.25%*

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in ALUMINIUM|31MAR26

Sumeet Bagadia’s Desk : Book Part Profit @ 338.75...Sell in Commodity ALUMINIUM|31MAR26 @ 339.6 SL 340.5 TGT 337.80

Sumeet Bagadia’s Desk:Sell ALUMINIUM|31MAR26 in Commodity @ 339.6 SL 340.5 TGT 337.80

Sumeet Bagadia’s Desk : Target Achieved @ 251000...Sell in Commodity SILVERMIC|30APR26 @ 255800 SL 258200 TGT 251000.00

Sumeet Bagadia’s Desk : Book Part Profit @ 253605...Sell in Commodity SILVERMIC|30APR26 @ 255800 SL 258200 TGT 251000.00

Sumeet Bagadia’s Desk : Target Achieved @ 13...Buy in Commodity NATURALGAS|24MAR26 CE 280.00 @ 9 SL 7 TGT 13.00

US Core PPI m/m Actual : 0.5% Forecast : 0.3% Prev.: 0.8% Impact :Negative for Bullion US PPI m/m Actual : 0.7% Forecast : 0.3% Prev.: 0.5% Impact : Negative for Bullion

Sumeet Bagadia’s Desk:Sell SILVERMIC|30APR26 in Commodity @ 255800 SL 258200 TGT 251000.00

Sumeet Bagadia’s Desk : Book Part Profit @ 10.4...Buy in Commodity NATURALGAS|24MAR26 CE 280.00 @ 9 SL 7 TGT 13.00

Sumeet Bagadia’s Desk : Target Achieved @ 3093...Buy in Commodity GOLDM|26MAR26 PE 155000.00 @ 2371 SL 2010 TGT 3093.00

Sumeet Bagadia’s Desk : Book Part Profit @ 2652...Buy in Commodity GOLDM|26MAR26 PE 155000.00 @ 2371 SL 2010 TGT 3093.00