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 Fell As The Dollar Rallied After Comments From Fed’s Vice Chair Clarida

Gold trading range for the day is 30201-30731.

Gold fell as the dollar rallied after comments from Fed’s Vice Chair Clarida bolstered expectations that the central bank would continue raising interest rates.

U.S. President Donald Trump seemed to quash hopes of a trade truce with China, dampening risk appetite across the region.

China’s net gold imports in October via main conduit Hong Kong more than doubled from a more than seven-year low touched the previous month.

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Mentha Oil Spot At Sambhal Closed At 1839.20 Per 1kg. Spot Prices

Mentha oil trading range for the day is 1647.6-1724.2.

Mentha oil spot at Sambhal closed at 1839.20 per 1kg. Spot prices was down by Rs.-2.20/-.

Menthaoil settled up due to bullish demand outlook from domestic market as well as exporters.

Spot markets are also witnessing strong consumption demand amid restricted supplies.


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Crude Oil Dropped Weighed Down By Concerns That Producers

Crude oil trading range for the day is 3436-3900.

Crude oil dropped weighed down by concerns that producers are churning out more oil than the world needs amid a bleak economic outlook.

U.S. crude oil production has jumped by almost a quarter this year, to a record 11.7 million bpd largely because of a surge in shale output.

Oil supply has surged this year, with the top-three producers of the United States, Russia and Saudi Arabia pumping out more than a third of global consumption.

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Gold Prices Remained Under Pressure As Investors Were Cautious

Gold trading range for the day is 30349-30621.

Gold prices remained under pressure as investors were cautious ahead of a G20 summit where leaders of the US and China are set to discuss their trade dispute.

The Federal Reserve is widely expected to raise U.S. interest rates for a fourth time this year at its December meeting.

The dollar was broadly lower after a rebound in global equities and the euro strengthened on hopes for a resolution of Italy’s budget dispute.

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Nickel Prices Dropped On Worries Over Slowing Global Economic Growth Amid

Nickel trading range for the day is 770-797.4.

Nickel prices dropped on worries over slowing global economic growth amid an escalating trade war between Washington and Beijing.

Russia's Norilsk Nickel sees 2019 nickel market deficit at 60 T.

Increasing nickel pig iron production and rising Shanghai nickel inventory kept prices under pressure in recent time.

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Zinc Gained On Short Covering After Prices Dropped After Turbul

Zinc trading range for the day is 183.7-189.7.

Zinc gained on short covering after prices dropped after turbulent trade with U.S. stocks and global oil market tumbling amid concerns over global economic growth.

Pressure also seen on weaker Chinese automobile usage in October and a faster-thanexpected rise in mined zinc supply.

The premium of LME cash zinc over the three-month contract soared to $US97 a tonne, the highest since at least June 2009.

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Silver Dropped As US Dollar Rallied As A Sell Off In Global Stock Markets

Silver trading range for the day is 36181-37231.

Silver dropped as US dollar rallied as a sell-off in global stock markets spurred safe-haven bids and investors grew concerned about slowing global growth.

Federal Reserve Bank of Dallas President Robert Kaplan also said in a separate interview with Fox Business that he expected a growth slowdown in Europe and China.

Markets widely expect a fourth rate hike for this year next month and policymakers had earlier indicated two more by June 2019.

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Gold Prices Edged Downward As Investors Flocked To The Dollar

Gold trading range for the day is 30622-31086.

Gold prices edged downward as investors flocked to the dollar and U.S. government bonds amid steep declines in global stock markets.

New York Fed President John Williams told that “We will be likely raising interest rates somewhat, but it is really in the context of a very strong economy.”

Richard Clarida, expressed caution over the global growth outlook on Friday and said "that's something that is going to be relevant" for the outlook for the U.S. economy.

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Crude Oil Dropped As Concern Over The Prospect Of An Oversupplied

Crude oil trading range for the day is 3959-4175.

Crude oil dropped as concern over the prospect of an oversupplied market next year continued to weigh on prices.

OPEC led by Saudi Arabia, is considering a cut of up to 1.4 mbpd next year to avoid the kind of build in global inventories that prompted the oil price to crash.

The EIA data showed that crude oil inventories increased by 10.27 million barrels in the week to November 9.

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Silver Gained As Investors Sought Cover From Market Turmoil

Silver trading range for the day is 36257-37017.

Silver gained as investors sought cover from market turmoil after Britain’s long-awaited draft agreement to leave the European Union was thrown into chaos

U.S. consumer prices increased by the most in nine months in October amid gains in the cost of gasoline and rents, pointing to steadily rising inflation.

A “really strong” U.S. economy is likely to continue growing, but softness in housing and high levels of corporate debt have caught the Federal Reserve’s eye.

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Gold Rose Helped By A Slight Retreat In The Dollar Following A Rally

Gold trading range for the day is 30517-30999.

Gold rose helped by a slight retreat in the dollar following a rally and as some investors covered their short positions after the metal held the key $1,200 level.

The Fed indicated earlier this month that it is still on course to hike interest rates in December.

Market participants will also be keeping an eye on Fed Chairman Powell’s appearance in the Federal Reserve Bank of Dallas Global Perspective Speaker Series.

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Turmeric Dropped Amid Improved Acreage And Higher Arrivals

Turmeric trading range for the day is 6560-6728.

Turmeric dropped amid improved acreage and higher arrivals from growing areas.

However downside seen limited amid concerns that drought condition in Maharashtra and Karnataka will affect Turmeric standing crop.

NCDEX accredited warehouses turmeric stocks gained by 48 tonnes to 3392 tonnes.

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Gold Dropped As Concerns Over Italy's Budget And Ongoing Brexit Talks

Gold trading range for the day is 30645-30981.

Gold dropped as concerns over Italy's budget and ongoing Brexit talks, along with expectations for further U.S. rate hikes, held the dollar near 16-month highs.

Dollar strength has outweighed any positive impact of risk aversion on gold, traditionally also seen as a safe store of value in times of market volatility.

The U.S. Federal Reserve reaffirmed its commitment to tightening monetary policy, a move likely to weigh on interest in bullion.

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Cotton Prices Gained On Low Arrivals And Due To Lower Production Forecast

Cotton trading range for the day is 22140-22740.

Cotton prices gained on low arrivals and due to lower production forecast.

Cotton production in 2018-19 is likely to fall 4.7% from the previous season to 34.8 million bales due to scanty rainfall.

Indian Cotton Federation said that the availability of cotton in the country would be comfortable in 2018-19 seasons.
  
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Silver Prices Slumped As Inflation Data Pointed To Steady Interest

Silver trading range for the day is 36142-37974.

Silver prices slumped as inflation data pointed to steady interest rate increases by the Federal Reserve.

The central bank hiked U.S. interest rates three times this year and is widely expected to do so again in December.

Meanwhile, weak economic global growth worried investors as producer prices in China fell for the fourth-straight month, raising more concerns that economy is struggling.

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Gold Prices Fell On A Firmer Dollar As The U.S. Federal Reserve

Gold trading range for the day is 30680-31540.

Gold prices fell on a firmer dollar as the U.S. Federal Reserve indicated they will continue to raise interest rates, lowering demand for bullion.

The Fed has hiked rates three times this year and is widely expected to do so again in December because of a robust U.S. economy, rising inflation and solid jobs growth.

Weaker gold prices boosted investment demand during the third quarter, but gains were capped by a sell-off in gold-backed exchange-traded funds.

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Silver Prices Slipped As Investors Digested The U.S. Midterm Election Results

Silver trading range for the day is 36928-38516.

Silver prices slipped as investors digested the U.S. midterm election results.

Democrats won control of the House of Representatives while Republicans retained their hold on the Senate, as the U.S. midterm election's outcome split Congress.

The dollar rose, pulling further away from the 2-1/2 week lows after the U.S. midterm elections delivered a broadly expected result.

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