Silver Traded In Range As The Safe Haven Demand For The Dollar

Silver trading range for the day is 38013-38637.

Silver traded in range as the safe haven demand for the dollar was boosted by concerns over the pending trade dispute between the U.S. and China.

The U.S. is preparing to impose tariffs on the remaining $257 billion of Chinese imports if talks in November between Trump and Chinese leader Xi Jinping do not go well.

The China Securities Regulatory Commission said that it would improve market liquidity and encourage more long-term capital into the market.

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Nickel Trading Range For The Day Is 928.6-968.2

Nickel trading range for the day is 928.6-968.2.

Nickel dropped on profit booking after prices seen supported after Environmental restrictions are likely to support nickel prices into the winter.

Also Winter cuts will impact NPI prices to a greater extent this year than the last and this is likely to keep nickel prices tighter over winter.

In Indonesia, NPI production will increase in the fourth quarter, driven by increasing operating rate from Delong and more capacity slated to be commissioned.

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Natural Gas Dropped On Profit Booking As Traders Are Eyeing Hurricane Michael

Natural gas trading range for the day is 233.8-254.4.

Natural gas dropped on profit booking as traders are eyeing Hurricane Michael, storm headed for the Florida Panhandle in the Gulf of Mexico.

For now, prices are easing as traders believe the storm will remain on its current trajectory and miss most of the natural gas production installations.

The EIA reported that net injections are higher than the five-year average.

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Silver Dropped After The Third U.S. Rate Hike For The Year

Silver trading range for the day is 37040-38340.

Silver dropped after the third U.S. rate hike for the year and the Federal Reserve’s indication of plans for more.

The Fed’s Chairman Jerome Powell also discussed trade related issues, adding that the Fed had heard a "rising chorus of concerns from businesses all over the country."

The US economy grew as expected in the second quarter, that confirmed that gross domestic product rose at its quickest rate in nearly four years.

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Copper Prices Dropped Amid Persistent Worries Over An Escalating U.S.- China

Copper trading range for the day is 453.1-460.7.

Copper prices dropped amid persistent worries over an escalating U.S.-China trade war.

Developing Asia could grow more slowly than previously thought next year as the U.S.-China trade war inflicts collateral damage on the region’s export-reliant economies.

China’s top copper smelters have set their floor treatment and refining charges for the fourth quarter at $90 per tonne and 9 cents per pound.

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Gold Prices Fell As The Dollar Strengthened Ahead Of The Results of A Federal Reserve Meeting

Gold trading range for the day is 30414-30900.

Gold prices fell as the dollar strengthened ahead of the results of a Federal Reserve meeting

The dollar steadied as the small boost it received from the Fed interest rate hike faded, with a decline in U.S. Treasury yields reducing support for the greenback.

Fed raised interest rates and left intact its plans to steadily tighten monetary policy, as it forecast that the U.S. economy would enjoy at least three more years of growth.
  
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Silver Gained Traders Sold The Dollar After Fully Factoring In Expectations

Silver trading range for the day is 37290-38866.

Silver gained traders sold the dollar after fully factoring in expectations of a Federal Reserve rate hike.

The Fed held the first of its two-day policy meeting for September amid market bets that there was a 100% chance of announcing a quarter-percent rate hike.

Holdings at ishares silver trust dropped by 0.49% i.e. 51.16 tonnes to 10420.30 tonnes from 10471.46 tonnes.

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Natural Gas Prices Gained As Colder Than Expected Weather Is Expected To Cover Most

Natural Gas trading range for the day is 205.1-219.3.

Natural gas prices gained as colder than expected weather is expected to cover most of the United States over the next 8-14 days.

The Energy Information Administration said utilities added a bigger-than-normal 86 billion cubic feet of gas into storage during that week.

The increase for the week ended Sept. 14 boosted stockpiles to 2.722 tcf, leaving inventories 17.7 percent below the five-year average.

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Silver Prices Traded In Range As The Dollar Slumped, Boosting The Appeal Of The Metal

Silver trading range for the day is 37093-37473.

Silver prices traded in range as the dollar slumped, boosting the appeal of the metal.

The U.S. currency ebbed amid continued relief that fresh U.S. and Chinese tariffs on reciprocal imports were less harsh than originally feared.

A less-harsh-than-expected volley of tariffs exchanged by US and China earlier this week suggested both nations are in no rush to ramp up their trade dispute.
  
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Zinc Prices Gained As Investors Shrugged Off An Escalation Of The U.S.-China Trade

Zinc trading range for the day is 167.8-174.2.

Zinc prices gained as investors shrugged off an escalation of the U.S.-China trade row.

The confidence of Americans in the US economy and their well-being rose towards the end of summer and stood near a 14-year high.

China’s total retail sales of consumer goods increased by 9% from a year earlier, beating a forecast of 8.8%, the National Bureau of Statistics said.

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Crude Oil Dropped After The Monthly Report From The International Energy Agency

Crude Oil trading range for the day is 4795-5133.

Crude oil dropped after the monthly report from the International Energy Agency showed a jump in global supply to an all-time high.

The global oil supply reached a record 100 million barrels per day, the International Energy Agency said in its latest forecast.

Crude output from the OPEC and Russia, rose to a nine-month high in August, to 32.63 million bpd, due to a rebound in Libya production.

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Gold Prices Rose Driven By The Ongoing Currency Crisis In Argentina

Gold trading range for the day is 30106-30542.

Gold prices rose driven by the ongoing currency crisis in Argentina, which could lead to a recession, a weaker peso and higher inflation.

The greenback slipped after a report that Germany would be ready to accept a less detailed agreement on the UK’s future economic and trade ties with the EU.

With a number of emerging markets including Argentine, Turkey and Indonesia battling currency crises, the demand for gold, is likely to rise.

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Natural Gas Fell On Expectations Demand Will Decline After Tropical Storm Gord

Natural gas trading range for the day is 199.6-207.6.

Natural gas fell on expectations demand will decline after Tropical Storm Gordon hits the Gulf Coast, causing power outages and cooler weather.

Several oil and gas rigs have pulled their employees off their platforms which will likely reduce production.

The weather is expected to be warmer than normal throughout the United States for the next 8-14 days which should increase cooling demand.

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