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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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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Turmeric Prices Gained On Short Covering After Prices Dropped

Turmeric trading range for the day is 6310-6514.

Turmeric prices gained on short covering after prices dropped on higher supply amid weak demand in the physical market.

This year turmeric output is expected to rise following higher acreage which is also weighing on prices.

NCDEX accredited warehouses turmeric stocks dropped by 95 tonnes to 3329 tonnes.

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Silver Prices Dropped As The U.S. Dollar Firm As A Senior Federal Reserve

Silver trading range for the day is 35427-36367.

Silver prices dropped as the U.S. dollar firm as a senior Federal Reserve official reaffirmed the need for further rate increases.

US President Trump said he expected to move ahead with raising tariffs on $200 billion in Chinese imports to 25 percent from the current 10 percent.

Fed Chairman Jerome Powell is due to speak on Wednesday on "The Federal Reserve's Framework for Monitoring Financial Stability" at the New York Economic Club.

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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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Gold Steadied With Investors Looking To A G20 Meeting For Signs

Gold trading range for the day is 30335-30767.

Gold steadied with investors looking to a G20 meeting for signs of a thaw in the Sino-U.S. trade conflict.

Although a stronger dollar amid fears of a slowdown in global growth weighed on bullion.

Physical gold demand in India was robust as consumers stepped up purchases during the traditional wedding season after domestic rates slipped to a near six-week trough.

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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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Turmeric Traded In Range Amid Lower Than Expected Exports

Turmeric trading range for the day is 6366-6582.

Turmeric traded in range amid lower than expected exports and domestic demand.

Besides, higher arrivals from growing regions and reports on higher acreage also weighed on the prices.

NCDEX accredited warehouses turmeric stocks dropped by 24 tonnes to 3434 tonnes.

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CPO Dropped Amid Rising Inventories In The World's Second Biggest Producer

CPO trading range for the day is 490.7-509.3.

CPO dropped amid rising inventories in the world's second-biggest producer and physical demand showed no signs of improvement.

Stockpiles at the end of October increased 7.6 percent from the previous month to 2.72 million tonnes, while production rose 6 percent to 1.96 million tonnes.

Inventories in top producers Indonesia and Malaysia were expected to rise for the next two months, with demand unlikely to jump from key buyers as palm oil solidifies in winter months.

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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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Zinc Prices Dropped Tracking LME Prices As Risk Aversion Grew

Zinc trading range for the day is 185.8-195.6.

Zinc prices dropped tracking LME prices as risk aversion grew as the US stock market slumped.

China’s domestic supplies stayed relatively tight, market optimism cooled as downstream consumption went sluggish at the year-end.

Social inventories of refined zinc across Shanghai, Guangdong and Tianjin came in at 123,000 mt.

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Copper Dropped As Tensions Between Washington And Beijing

Copper trading range for the day is 435.8-445.8.

Copper dropped as tensions between Washington and Beijing at a regional summit renewed concerns over a prolonged trade war, weighing on prices.

Headline copper inventories in LME-registered warehouses fell by 5,425 tonnes to 161,025 tonnes, nearing last month's 10-year low of 136,675 tonnes.

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Gold Prices Inched Up As The Dollar Slipped Following Reports

Gold trading range for the day is 30609-31043.

Gold prices inched up as the dollar slipped following reports that China delivered a written response to U.S. trade demand.

Federal Reserve chairman Jerome Powell said in Dallas that the U.S. economy is “in such a good place right now”.

Powell reiterated the central bank is independent and would continue to do what is best for the U.S. economy.

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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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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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Gold Dropped As The Dollar Inched Up As Traders Awaited The U.S. Inflation Data

Gold trading range for the day is 30846-31246.

Gold dropped as the dollar inched up as traders awaited the U.S. inflation data due later this week.

U.S. central bank last week indicated it planned to raise rates next month and remained on track for two more potential hikes by mid-2019 on the back of an upbeat economy.

The US Dollar found renewed haven appeal against the risk-off backdrop, and its rise undermined the appeal of anti-fiat alternatives epitomized by the yellow metal.

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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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Gold Slid As The Dollar Firmed In The Wake Of The U.S. Midterm Elections

Gold trading range for the day is 31084-31662.

Gold slid as the dollar firmed in the wake of the U.S. midterm elections, with market participants now awaiting clues on the pace of interest rate hikes from the U.S. Federal Reserve.

The Federal Reserve announced that it will maintain its monetary policy and indicated further gradual rate hikes before the end of the year.

India raised gold holdings by 6.53 tonnes to 586.46 tonnes in September 2018, according to IMF data.

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Silver Trading Range For The Day Is 38058-38870

Silver trading range for the day is 38058-38870.

Silver dropped as investors took some profits, but the metal traded within a narrow range as caution set in ahead of the U.S. congressional elections.

The Labor Department data showed that the economy added 250000 jobs in October, and average hourly earnings rose 0.2%.

Markets will be closely watching the upcoming U.S. congressional elections, which will determine whether the Republicans or Democrats control the U.S. Congress.

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