Ref Soyoil Dropped Due To Firmness In Indian Rupee

Ref.Soya oil trading range for the day is 714-728.

Ref soyoil dropped due to firmness in Indian rupee and expectations of higher domestic availability of soyoil on the back of bumper output of soybean.

India's 2018-19 soybean production is projected at 13.46 million tons, up 22.5% over previous year, agriculture ministry data showed.

India's October soyoil imports were down at 264,089 tons from 341,402 tons a month ago.

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Nickel Gained Tracking LME Prices Gained By 2.4 Percent To Close

Nickel trading range for the day is 743.6-778.4.

Nickel gained tracking LME prices gained by 2.4 percent to close at $11,055 as investors bought riskier assets on speculation U.S. interest rates may be near a peak

The Philippines' environment ministry has said it would allow nine suspended mines, six of which are nickel, to resume operations.

The global nickel market deficit widened slightly to 9,200 tonnes in September from the previous month's revised deficit of 8,100 tonnes.

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Silver Dropped As Firmness In Rupee Weighed On MCX

Silver trading range for the day is 35270-36170.

Silver dropped as firmness in Rupee weighed on MCX as the U.S. dollar weakened on investors’ expectations of a slowdown in interest rate hikes.

The chairman of the U.S. Federal Reserve, Jerome Powell, said that rates are “just below” the neutral level now.

Powell’s comments suggest that 2019 may be more of a wait-and-see approach and the assumption of any hikes may be premature.

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Gold Dropped As Firmness In Rupee Weighed As The Dollar Fell

Gold trading range for the day is 30049-30417.

Gold dropped as firmness in Rupee weighed as the dollar fell after Fed Jerome Powell offered little clues on the pace of future interest rate hikes in a cautious speech.

There was “a great deal to like” about U.S. prospects, the bank’s gradual interest-rate hikes are meant to balance risks as it tries to keep the economy on track, Powell said.

US Trade Representative Robert Lighthizer: China policies on auto tariffs 'egregious', will examine tools to equalize tariffs on autos.



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Silver Trading Range For The Day Is 35470-36592

Silver trading range for the day is 35470-36592.

Silver gained as the US dollar dipped from two-week highs after Federal Reserve Chairman Jerome Powell described US interest rates as "just below" the neutral rate.

Fed’s Chairperson Powell said the “gradual pace of raising interest rates has been an exercise in balancing risks,” but added “there is no preset policy path.

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Gold Prices Rose As The U.S. Dollar Tumbled After Fed Chairman Powell Indicated

Gold trading range for the day is 30093-30749.

Gold prices rose as the U.S. dollar tumbled after Fed Chairman Powell indicated that interest rates were near normal, soothing investor worries over the pace of rate hikes.

Powell said that while there was “a great deal to like” about U.S. prospects, the Fed’s gradual interest-rate hikes are meant to balance economic risks.

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Zinc Prices Rose As Falling Stockpiles And Rising Premiums

Zinc trading range for the day is 172.2-185.

Zinc prices rose as falling stockpiles and rising premiums for nearby metal highlighted a short-term supply squeeze, halting a slide to 10-week lows.

Despite expectations of a rise in supplies, current supply bottlenecks and stable demand across Chinese markets are likely to limit downside room.

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