Choice Commodity Research

*Copper Update* Copper prices pressured by supply concerns as output is forecast up 5% after last year’s 10% rise, stockpiles grew in Asian LME warehouses, and Chinese buying slowed ahead of Lunar New Year holidays. -Choice Broking

Dollar Update The dollar index climbed above 97.5, a near two-week high, as markets priced in slower Fed rate cuts. Fed Governor Lisa Cook stressed inflation risks over labor cooling. ADP showed weaker private hiring, while services beat forecasts. Attention turned to ECB and BOE meetings, expected to hold rates steady. -Choice Broking

*Global Update* • Oil prices increased by about 3% on Wednesday following a report that suggested U.S.-Iran talks might collapse. • Concerns linger regarding President Trump's potential actions against Iran, which could escalate tensions in the oil-rich region. • Ukrainian and Russian officials concluded a productive first day of U.S.-brokered talks in Abu Dhabi, focusing on concrete solutions. • The ADP employment report indicated disappointing private payroll growth, while the ISM services PMI exceeded expectations. • The European Central Bank (ECB) and Bank of England (BoE) are anticipated to keep interest rates unchanged. -Choice Broking

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in GOLDTEN|27FEB26

US Crude Oil Inventories Actual : -3.5M Forecast: -2.0M Prev.: -2.3M Impact : Positive for Crude Oil US Distillate Inventories Actual : -5.6M Forecast: -1.1M Prev.: 0.3M Impact : Positive for Crude Oil US Gasoline Inventories Actual : 0.7M Forecast: 0.5M Prev.: 0.2M Impact : Negative for Crude Oil

*US ISM Services PMI* Actual : 53.8 Forecast: 53.5 Prev.: 54.4 Impact : Negative for Bullion

US Final Services PMI Actual : 52.7 Forecast: 52.5 Prev.: 52.5 Impact : Negative for Bullion

JD Vance states the U.S. is proposing a new trading bloc for critical minerals like lithium and rare earths to secure supply chains and reduce dependence on China. This initiative aims to strengthen trade and supply with partner countries. Choice Broking

Sumeet Bagadia’s Desk : Stopped Out @ 324.4...Buy in Commodity ZINC|27FEB26 @ 325.5 SL 324.6 TGT 327.30

Sumeet Bagadia’s Desk : Stopped Out @ 159225...Buy in Commodity GOLDTEN|27FEB26 @ 162150 SL 159226 TGT 167998.00

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in SILVERMIC|27FEB26

Sumeet Bagadia’s Desk:Buy ZINC|27FEB26 in Commodity @ 325.5 SL 324.6 TGT 327.30

Sumeet Bagadia’s Desk : Stopped Out @ 210...Buy in Commodity CRUDEOIL|17FEB26 CE 5750.00 @ 233.6 SL 210 TGT 280.80

Sumeet Bagadia’s Desk : Book Part Profit @ 295700...Buy in Commodity SILVERMIC|27FEB26 @ 292668 SL 289000 TGT 300004.00

US ADP Non-Farm Employment Change Actual : 22K Forecast: 46K Prev.: 41K Impact : Positive for Bullion

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in ZINC|27FEB26

Zinc Update As the Chinese New Year approaches, a zinc mine in Southwest China will suspend production in early February, resuming in early March, reducing zinc concentrate metal output by about 1,000 mt. Impact: Positive for Zinc -Choice Broking

Sumeet Bagadia’s Desk:Buy SILVERMIC|27FEB26 in Commodity @ 292668 SL 289000 TGT 300004.00