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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Copper Prices Gained After Investors Saw Comments From The U.S. Federal Reserve

Copper trading range for the day is 421.1-442.5.

Copper prices gained after investors saw comments from the U.S. Federal Reserve chair as a sign the central bank's interest rate hike cycle is drawing to a close.

U.S. President Trump is open to reach a deal on trade with Chinese leader Xi Jinping but is ready to hike tariffs on Chinese goods if there is no breakthrough.

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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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Zinc Prices Fell As Expectations Of Weaker Demand From Chinese Steel Mills

Zinc trading range for the day is 174.4-185.4.

Zinc prices fell as expectations of weaker demand from Chinese steel mills overpowered signs that the market is short of metal.

An expected surge in refined zinc output after a clutch of new mine openings has been derailed by bottlenecks at smelters across Asia.

China's forced environmental cutbacks on zinc slag, and falling refined prices in the second quarter, prompted many smelters to cut production.



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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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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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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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Aluminium Trading Range For The Day Is 136.8-140

Aluminium trading range for the day is 136.8-140.

Aluminium prices gained as support seen after China’s Primary aluminium capacity cuts to exceed 2 million mt in 2018

However, persisting worries about the China-US trade conflict are expected to kept investors cautious.

Federal Reserve caution on the global outlook and weak data at home, pointing to slower rate hikes.

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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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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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Natural Gas Rose To Their Highest Since February 2014 On Forecasts

Natural gas trading range for the day is 271.2-389.8.

Natural gas rose to their highest since February 2014 on forecasts for colder weather than previously expected over the next two weeks.

Cold would boost heating demand and cause utilities to start withdrawing fuel from storage facilities that are already about 16 percent below normal for this time.

Output in the lower 48 states, meanwhile, averaged a record-high 87.0 bcfd over the past 30 days.

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Jeera Prices Dropped On Profit Booking After Prices Gained

Jeera trading range for the day is 20300-20990.

Jeera prices dropped on profit booking after prices gained amid lack of arrivals and reports of lower sowing this season.

Jeera sowing has commenced in Gujarat and has been planted on 36,600 hectares, showed Gujarat state agriculture data.

NCDEX accredited warehouses jeera stocks gained by 350 tonnes to 3210 tonnes.

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Silver Prices Dropped As Dollar Strength Continued To Put Downward Pressure

Silver trading range for the day is 36085-36925.

Silver prices dropped as dollar strength continued to put downward pressure on the precious metal.

Demand for the dollar was underpinned after the Federal Reserve indicated last week that rates are likely to rise in December and again in early 2019.

Strong U.S. producer price index data on Friday also served as an endorsement for the Fed to tighten again at the end of year, placing pressure on prices.

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Cardamom Dropped Tracking Weakness In Spot Demand Amid

Cardamom trading range for the day is 1443.9-1471.9.

Cardamom dropped tracking weakness in spot demand amid profit booking after prices gained due to heavy losses to crop due heavy losses to crop

Export of cardamom from the country during 2017-18 spurted 48% to 5,680 ton from 3,850 ton a year ago.

Around 25 tn of new arrivals are coming at auctions daily, which is 25-30% of the total arrivals.

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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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Copper Prices Fell As The U.S. Dollar Strengthened And On Lingering Concerns

Copper trading range for the day is 424.6-441.6.

Copper prices fell as the U.S. dollar strengthened and on lingering concerns about the trade war between the U.S. and China.

Concerns over global trade tensions also remained in focus amid doubts over the potential for a trade deal between the U.S. and China.

Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 3.6 percent from last Friday, the exchange said.
  
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Natural Gas Rose On Forecasts For Colder Weather Next Week

Natural gas trading range for the day is 251.5-286.7.

Natural gas rose on forecasts for colder weather next week than previously forecast.

Cold will boost heating demand and cause utilities to start withdrawing fuel from storage facilities that are already about 16 percent below normal levels.

Despite last week's bigger than expected storage increase, U.S. stockpiles were only at 3.208 trillion cubic feet.

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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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Natural Gas Gained On Forecasts For Cold Weather, With Heating Demand

Natural gas trading range for the day is 226.5-248.9.

Natural gas gained on forecasts for cold weather, with heating demand set to rise quicker than previously expected.

Storage grew less than expected according to the Energy Information Administration as reflected by their last estimates of injections into stockpiles.

Projected demand in the lower 48 states would rise to 86.4 billion cubic feet per day next week, up from an expected 85.6 bcfd.

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