Crude Oil Dropped After Saudi Arabia Said It Would Make Up For Supply

Crude oil trading range for the day is 4673-5235.

Crude oil dropped after Saudi Arabia said it would make up for supply disruptions from U.S. sanctions targeting Iran's petroleum exports from next month.

Saudi Arabia said it would play a "responsible role" in energy markets.

The US cannot stop Iranian oil exports by imposing sanctions on Tehran, Iran's oil minister said, warning that such restrictions will ensure the market remains volatile.

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Turmeric Prices Gained On Improved Demand In The Local Mandis

Turmeric trading range for the day is 6464-6736.

Turmeric prices gained on improved demand in the local mandis amid lower stock.

However, turmeric arrivals in Sangli mandi were 2,000 bags today while the arrivals were 1,500-2,000 bags.

NCDEX accredited warehouses turmeric stocks gained by 78 tonnes to 3648 tonnes.

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Ref Soyoil Gained As There Is Consistent Increase In Demand

Ref.Soya oil trading range for the day is 754-772.

Ref soyoil gained as there is consistent increase in demand from stockists due to coming festival.

India’s oilmeal exports for the month of September 2018 reported a decline of about 73 per cent, the data showed.

For the first fortnight of October, base import price of crude soyoil cut to $701 per tn from $714 per tn.
  
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Silver Prices Inched Lower As The Dollar Firmed After China’s Central Bank Eased

Silver trading range for the day is 37959-39349.

Silver prices inched lower as the dollar firmed after China’s central bank eased its domestic policy to support the economy.

Federal Reserve Bank of New York President John Williams endorsed the idea that the Fed will raise rates once more this year and three times next year.

China’s central bank announced a steep cut in the level of cash that banks must hold as reserves, stepping up moves to lower financing costs and spur growth.

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Silver Prices Gained As The Dollar Softened After Data Showed U.S. Job Growth

Silver trading range for the day is 38471-39761.

Silver prices gained as the dollar softened after data showed U.S. job growth slowed in September, easing concerns about a large run-up in inflation.

U.S. job growth slowed sharply in September likely as Hurricane Florence depressed restaurant and retail payrolls.

The unemployment rate fell to near a 49-year low of 3.7 percent, pointing to a further tightening in labor market conditions.


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Gold Prices Looks To Trade With Firmness Buoyed By Safe Haven Demand

Gold trading range for the day is 30576-31170.

Gold prices looks to trade with firmness buoyed by safe-haven demand as Italy’s budget plan sets it on course for a potential clash with the European Union.

Federal Reserve Chairman Jerome Powell said that the U.S. central bank plans gradual increases to interest rates.

Investors have also opted to buy the dollar and U.S. Treasury bonds as safe investments instead of gold.

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Silver Steadied After The Federal Reserve Announced A Much Anticipated Third U.S. Rate

Silver trading range for the day is 37558-38450.

Silver steadied after the Federal Reserve announced a much-anticipated third U.S. rate hike for the year.

The Fed raised interest rates by a quarter percentage point, increasing the overnight U.S. funds rate to a range of 2.00% to 2.25%.

The central bank said in a statement that its decision was in response to the country’s faster pace of economic growth.

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Silver Gained As Bullion Traders Took In Stride Trade War Tensions

Silver trading range for the day is 37132-38352.

Silver gained as bullion traders took in stride trade war tensions and a widely-anticipated Federal Reserve rate hike.

Beijing is unlikely to resume talks with Washington until after November’s mid-term elections.

U.S. President Donald Trump hinted the trade war won’t end any time soon, and said that it’s time to “take a stand on China.”

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Silver Speculators Continue To Cut Bearish Positions

Large precious metals speculators trimmed their bearish net positions in the Silver futures markets last week, according to the latest Commitment of Traders data released by the Commodity Futures Trading Commission on Friday.

The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of -25,516 contracts in the data reported through Tuesday September 18th.

This was a weekly rise of 1,887 contracts. The silver speculative position has now had declining bearish bets for two weeks.

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Gold Speculative Position Remains Bearish For Sixth Consecutive Week

Large precious metals speculators added to their bearish net positions in the Gold futures markets last week, according to the latest Commitment of Traders data released by the Commodity Futures Trading Commission on Friday.

The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of -10,844 contracts in the data reported through Tuesday September 18th. This was a weekly fall of -3,254 contracts.

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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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Gold Prices Traded In Range Following News That China Would Retaliate Against A New Round

Gold trading range for the day is 30502-30718.

Gold prices traded in range following news that China would retaliate against a new round of U.S. tariffs on its goods. U.S. Treasuries also rose.

The dollar slipped after Beijing announced on Tuesday retaliatory tariffs that targeted more than 5,000 U.S. products worth $60 billion.

India should not tamper with its gold import duty or impose other restrictions to support the rupee, the World Gold Council said.

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Silver Prices Traded In Range As The Dollar Held Its Ground After The U.S. And China

Silver trading range for the day is 36935-37911.

Silver prices traded in range as the dollar held its ground after the U.S. and China announced their latest round of measures in the escalating trade conflict.

Prices were under pressure in recent months despite intensifying trade tensions between the U.S. and its trade partners, as investors turned to the dollar for safety.

U.S. President Donald Trump said that U.S. is slapping 10% tariffs on $200 billion worth of Chinese goods, and that the tariffs would rise to 25% in January 2019.

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Copper Dropped As Data In China Pointing To A Cooling Economy

Copper trading range for the day is 417.1-435.9.

Copper dropped as data in China pointing to a cooling economy and a worsening trade dispute between Washington and Beijing.

The copper mine Collahuasi in Chile is expected to produce 545,000 tonnes of copper this year, 4 percent more than in 2017.

Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.1 percent from last Friday, the exchange said.

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Silver Dropped As Reports Suggesting President Donald Trump Was Ready To Impose Tariffs

Silver trading range for the day is 36711-37391.

Silver dropped as reports suggesting President Donald Trump was ready to impose tariffs on China raised concerns about demand for metals.

The Trump administration is readying a final list of $200 billion in Chinese imports on which it plans to levy tariffs in the coming days.

U.S. consumer prices rose less than expected in August and underlying inflation pressures also appeared to be slowing.

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Silver Prices Rose As The Safe Haven Metal Finally Sparked Buyer Interest Amid U.S.-China

Silver trading range for the day is 36868-37586.

Silver prices rose as the safe-haven metal finally sparked buyer interest amid U.S.-China trade worries.

A weaker-than-expected reading on job creation also helped reduce worries over a faster pace of rate hikes from the Federal Reserve.

The softer dollar helped prices, though markets’ focus remained centered on the U.S. - China trade dispute amid fears that an escalation could be imminent.

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Crude Oil Dropped As A Tropical Storm Hitting The U.S. Gulf Coast Weakened

Crude oil trading range for the day is 4884-5014.

Crude oil dropped as a tropical storm hitting the U.S. Gulf coast weakened, offsetting support from forecasts of lower U.S. inventories and sanctions against Iran.

OPEC Secretary-General Mohammad Barkindo said that world oil consumption would hit 100 million barrels per day later this year, “much sooner” than earlier projected.

U.S. crude stockpiles fell last week as refineries boosted output amid strong consumption, data from industry group the American Petroleum Institute showed.

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