Aluminium Trading Range For The Day Is 145.7-149.5

Aluminium trading range for the day is 145.7-149.5.

Aluminium prices gained as market focus remains on the value-added tax cuts in the near term.

Aluminium premiums in Rotterdam and Japan were firm on the back of wide contango spreads on the London Metal Exchange and sustained supply tightness.

Norsk Hydro has agreed with Brazil's federal prosecutor to have a third-party technical assessment that, if positive, could lead to it resuming full production.

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Nickel Prices Traded In Range Amid Global Growth Fears

Nickel trading range for the day is 877.5-913.9.

Nickel prices traded in range amid global growth fears and a prolonged inverted U.S. yield curve prompted investors to shun riskier assets.

The Commerce Department said the trade deficit declined 14.6 percent, the largest decline since March 2018, to $51.1 billion.

The European Central Bank said it could further delay a planned increase in interest rates as it faces rising threats to growth.

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Silver On MCX Settled Down -0.79% At 38015

Silver on MCX settled down -0.79% at 38015 after the spreads between U.S. 3-month and 10-year Treasury yields inverted, a sign of a potential recession.

Traders are also closely monitoring developments in Brexit and Sino-U.S. trade talks, as they might increase bullion’s safe-haven appeal depending on the outcome.

U.S. housing starts fell 8.7%, the second-biggest monthly decline since November 2016, the Commerce Department said.

US 10-year Treasury debt yields rebounded from 15- month lows due to stock gains as investors brushed aside disappointing domestic data on housing starts and consumer confidence.

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Gold Dropped As A Firm Dollar Offset Bullion’s Gains

Gold dropped as a firm dollar offset bullion’s gains emanating from fears of a possible recession in the United States.

The 10-year U.S. Treasury yield fell further, having fallen below the yield for three-month bills for the first time since 2007, inverting the yield curve.

An inversion is widely seen as indicating an economic recession. Facing rising threats to growth, the European Central Bank could further delay a planned increase in interest rates if it needs to and may look at measures to mitigate the effects of negative interest rates, ECB President Mario Draghi said.

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Jeera Gained On The Back Of Increased Buying As A Result Of Lower Output

Jeera trading range for the day is 15445-15635.

Jeera gained on the back of increased buying as a result of lower output amid lower acreage in Gujarat.

Demand for good quality new crop is gradually picking up.

India's cumin seed output is set to touch 4,16,000 tons for 2019, about 9% higher than the previous year.

In Unjha, a key spot market in Gujarat, jeera edged up by 18 Rupees to end at 15811.1 Rupees per 100 kg.

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Turmeric Trading Range For The Day Is 5872-6296

Turmeric trading range for the day is 5872-6296.

Turmeric prices gained on short covering after prices dropped because of improvement in new crop arrivals.

However, farmers in key growing states are trying to build pressure on the government to start procurement of the spice.

Farmers have demanded the Tamil Nadu Government procure turmeric from farmers at Rs. 12,000 a quintal immediately.

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Crude Oil Gained As OPEC Supply Cuts And Expectations Of Lower U.S. Inventories

Crude Oil trading range for the day is 4049-4229.

Crude oil gained as OPEC supply cuts and expectations of lower U.S. inventories outweighed concern about weaker demand due to an economic slowdown.

But signs of a sharp economic slowdown and potentially even a recession kept markets from rising further.

Huge back-to-back declines of nearly 14 million barrels in U.S. crude stocks over the past two weeks have also provided the oil markets a big sentiment boost.

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Natural Gas Inched Slightly Lower On High Production And Easing Demand

Natural gas trading range for the day is 189.5-194.9.

Natural gas inched slightly lower on high production and easing demand, even as volatility abated going into a seasonal transition.

Pressure also seen after the amount of gas flowing to Cheniere Energy Inc's Sabine Pass liquefied natural gas export terminal fell by almost half from a record high

On the supply side, stockpiles for the week to March 15 declined to 1.143 trillion cubic feet, 32.7 percent below the five-year average of 1.699 tcf for this time of year.

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Aluminium Prices Dropped As Concerns About A Global Economic Slowdown

Aluminium trading range for the day is 144.6-146.2.

Aluminium prices dropped as concerns about a global economic slowdown depressed sentiments.

China reverted to being a net importer of alumina in February for the first month since April 2018, while its scrap metal imports plunged to just 160,000 tonnes.

Improving downstream consumption extends declines in primary aluminium inventories.

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Copper Moved Lower As Investors Worried About The Prospect Of A Recession

Copper trading range for the day is 432.9-439.9.

Copper moved lower as investors worried about the prospect of a recession in the United States, the world's biggest economy.

U.S. Treasury 10-year note yields dropped below three-month Treasury bill yields for the first time since 2007 after disappointing U.S. manufacturing data.

Copper stockpiles in ShFE warehouses fell slightly to 259,172 tonnes last week after a rapid build during a seasonal lull in demand.

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Silver Prices Gained As Recession Fear Sparked Safe-Haven Demand

Silver trading range for the day is 38251-38793.

Silver prices gained as recession fear sparked safe-haven demand.

The spread between 3-month Treasury bills and 10-year note yields inverted for the first time since 2007 after U.S. manufacturing data missed estimates.

Investors grappled with an inverted US Treasury yield curve and another round of disappointing economic data in the eurozone that weighed on the euro.

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Gold Rose As Investors Appetite For Riskier Assets Faded On Concerns

Gold trading range for the day is 32007-32355.

Gold rose as investors’ appetite for riskier assets faded on concerns about a potential U.S. recession and decelerating global growth.

Chicago Federal Reserve Bank President Charles Evans said that it is a good time for the U.S. central bank to pause and adopt a cautious stance.

Data showed that U.S. manufacturing activity unexpectedly cooled in March and businesses across the euro zone performed much worse than expected this month.

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Ref Soya Oil Ended With Losses Tracking Weakness In Spot Demand

Ref.Soya oil trading range for the day is 734-742.

Ref soya oil ended with losses tracking weakness in spot demand due to higher stocks.

Government cut tariff value of crude soy oil by 24 dollar to $729 per tn for the second half of March.

Crude soy oil imports down 17.3% on year to 1.86 lakh tonnes in January 2019. For Nov-Jan period, soy oil import volume drop 17.8%.

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Natural Gas Trading Range For The Day Is 188.9-195.3

Natural Gas trading range for the day is 188.9-195.3.

Natural gas dropped weighed down by a fall in demand from the Sabine Pass export terminal in Louisiana, warmer weather and a smaller year-on-year inventory deficit.

EIA said utilities pulled just 47 billion cubic feet of gas from inventories during the warmer than normal week ended March 15.

U.S. dry natural gas production will rise to an all-time high of 90.73 billion cubic feet per day (bcfd) in 2019 from a record high of 83.35 bcfd in 2018.

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Silver Gained As The Federal Reserve’s Reassurance Of A Steady Interest Rate

Silver trading range for the day is 37979-38739.

Silver gained as the Federal Reserve’s reassurance of a steady interest rate policy in 2019 put the U.S. dollar under pressure.

The US President Donald Trump said the economy would have grown much faster last year if the Federal Reserve had not been tightening credit last year.

There were fears of a catastrophic "no-deal" Brexit should lawmakers hold firm in their rejection of Prime Minister Theresa May's deal with the EU.

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Gold Prices Gained Amid Weak Economic Data From The Euro Zone

Gold trading range for the day is 31430-32520.

Gold prices gained amid weak economic data from the euro zone exacerbated fears of a global slowdown and weighing on risk sentiment.

The Fed brought its three-year drive to tighten monetary policy to an abrupt end, abandoning projections for any interest rate hikes this year.

The number of Americans filing applications for unemployment benefits fell more than expected last week, pointing to still strong labor market conditions.

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Jeera Gained On The Back Of Increased Buying As A Result Of Lower Output

Jeera trading range for the day is 15440-15740.

Jeera gained on the back of increased buying as a result of lower output amid lower acreage in Gujarat.

India's cumin seed output is set to touch 416,000 tons for 2018-19 season, about 9% higher than the previous year.

According to 1st Adv est. by Agriculture Ministry, cumin output may be higher by 10% on year to 7.56 lakh tonne.

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Nickel Dropped As The As The US Dollar Rallied After Prices Gained

Nickel trading range for the day is 869.2-921.8.

Nickel dropped as the as the US dollar rallied after prices gained bolstered by substantial decline in LME nickel inventories.

LME nickel stocks fell to their lowest since June 2013, LME data showed on Wednesday. Inventories in China, however, are more plentiful.

China produced 12,100 mt of refined nickel in January, up 1.44% from a year earlier.

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Silver Prices Rose After The Federal Reserve Ruled Out The Chances

Silver trading range for the day is 37951-38661.

Silver prices rose after the Federal Reserve ruled out the chances of any interest rate hike this year.

The Fed left rates unchanged amid concerns over slowing growth both domestically and abroad and abandoned projections for any interest rates hikes this year.

Earlier projections had indicated as many as two rate hikes before the end of the year, but the downward rate revision points to an expected slowdown in economic growth.

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Gold Climbed As Fed Ruled Out Chances Of Any Interest Rate Hike

Gold trading range for the day is 31604-32146.

Gold climbed as Fed ruled out chances of any interest rate hike this year, while a surprise cut in U.S. growth forecast added to concerns on global economic slowdown.

Having downgraded the U.S. growth, unemployment and inflation forecasts, the Fed brought its three-year drive to tighten monetary policy to an abrupt end.

The dollar fell sharply and U.S. Treasuries rallied after Fed’s decision on Wednesday, taking the benchmark 10-year yield to a 14-month low.

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Aluminium Prices Gained As Support Seen After Norsk Hydro

Aluminium trading range for the day is 144.8-150.2.

Aluminium prices gained as support seen after Norsk Hydro, was sustaining a cyber-attack that affected its operations.

Primary aluminium stocks at the three main Japanese ports increased by 5,200 tonnes or 1.7% month on month in February 2019.

China January to February alumina output rises 12.3 percent from a year earlier at 12.01 mln tonnes, the National Bureau of Statistics said.

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Natural Gas Trading Range For The Day Is 191.9-202.9

Natural Gas trading range for the day is 191.9-202.9.

Natural gas edged up on forecasts for cooler weather and higher heating demand next week than previously expected.

Traders said the market has become much less volatile over the past several weeks as the weather moderates with the approach of spring.

With the weather expected to cool, projected demand in the Lower 48 U.S. states will rise to an average of 96.0 bcfd.

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Silver Prices Edged Higher As Investors Looked Ahead To A Busy Week Likely

Silver trading range for the day is 37756-38630.

Silver prices edged higher as investors looked ahead to a busy week likely to be dominated by the Federal Reserve's regular policy meeting.

EU’s trade surplus with the US and its deficit with China both increased in January, serving as potential fuel for trade conflicts between the world’s largest economies.

Market participants expect the central bank to keep its benchmark overnight interest rate unchanged and stick to its pledge of a "patient" approach to monetary policy.

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Gold Prices Rose On Expectations That The U.S. Federal Reserve

Gold trading range for the day is 31525-32223.

Gold prices rose on expectations that the U.S. Federal Reserve will maintain a dovish tone at its policy meeting this week.

PM May’s Brexit plans were thrown into further turmoil when the speaker of parliament ruled that she could not put her divorce deal to a new vote.

Indicative of investor sentiment toward gold, holdings of the SPDR Gold Trust, rose about 1.1 percent, its biggest one-day percentage gain since Jan. 18.

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Jeera Gained On Short Covering After Prices Drooped Tracking Weakness

Jeera trading range for the day is 15185-15545.

Jeera gained on short covering after prices drooped tracking weakness in spot demand due to expectations of higher output.

India's cumin seed output is set to touch 416,000 tons for 2018-19 season, about 9% higher than the previous year.

Amid increased production and a carryover stock of about 27,500 tons, the trade has set its eyes on the crop from international suppliers.

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Nickel Trading Range For The Day Is 868.5-910.1

Nickel trading range for the day is 868.5-910.1.

Nickel traded in range on mounting speculation the U.S. Federal Reserve will sound decidedly dovish at its policy meeting this week.

China’s top steelmaking city, required heavy industries to implement level II anti-smog measures due to poor pollutant diffusion conditions.

Weak economic data underscored the Federal Reserve's "patient" stance toward further interest rate hikes this year.

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Silver Dropped After The U.S. Dollar Turned Easy Ahead Of The Federal Reserve's

Silver trading range for the day is 37556-38296.

Silver dropped after the U.S. dollar turned easy ahead of the Federal Reserve's rate decision next week and on optimism about U.S.-China trade talks.

Weak economic data underscored the Federal Reserve's "patient" stance toward further interest rate hikes this year.

US manufacturing output dipped for a second straight month in February and factory activity in New York state was weaker than expected this month.

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Gold Prices Slipped As Gains In The Equity Markets Dented

Gold trading range for the day is 31455-31849.

Gold prices slipped as gains in the equity markets dented the appeal of the precious metal ahead of a U.S. Federal Reserve policy meeting this week.

Meanwhile, renewed optimism over prospects for a U.S.-China trade deal was cited as a headwind for the safe-haven metal.

Chinese Vice Premier Liu He had a telephone conversation with U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer last Thursday.

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Turmeric Prices Dropped On Profit Booking Amid New Season Arrivals

Turmeric trading range for the day is 6186-6286.

Turmeric prices dropped on profit booking amid new season arrivals and good production prospects.

Demand for turmeric is subdued in spot markets as stockists are not willing to buy produce that is of poor quality.

Moreover, turmeric arrivals are expected to pick-up from next month which has also restricted gains.

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Zinc Prices Dropped On Profit Booking After Prices Seen Supported On Investors

Zinc trading range for the day is 191.1-201.3.

Zinc prices dropped on profit booking after prices seen supported on investors worry about ultra-tight stocks.

China January to February zinc output down 8.2 percent from a year earlier at 851,000 tonnes, the National Bureau of Statistics said

The low-inventory situation, as well as fears of production outrages, has spurred the backwardation in London Metal Exchange zinc higher.

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Copper Dropped As Pressure Seen After LME Copper Inventories

Copper trading range for the day is 440.5-451.5.

Copper dropped as pressure seen after LME copper inventories have surged 67 percent over the past two days.

Chinese Premier Li Keqiang said a planned cut in value-added tax would take effect from April 1.

China's refined copper output in January and February rose by 6.3 percent year-on-year to 1.34 million tonnes, the National Bureau of Statistics said.

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Silver Prices Gained As The Dollar Dipped And Mounting Concerns

Silver trading range for the day is 37846-38458.

Silver prices gained as the dollar dipped and mounting concerns about a slowdown in global economic growth buoyed demand for the safe-haven metal.

The number of Americans filing applications for unemployment benefits increased more than expected last week while new home sales fell more than expected.

Prime Minister Theresa May put forward a measure that sought to delay the UK’s exit beyond the current March 29 deadline.

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Gold Prices Rose As The Dollar Dipped And Mounting Concerns

Gold trading range for the day is 31638-32034.

Gold prices rose as the dollar dipped and mounting concerns about a slowdown in global economic growth boosted demand for the safe-haven bullion.

Providing additional support to bullion were increasing signs of a global economic slowdown.

British lawmakers voted to seek a delay in Brexit, setting the stage for PM May to renew efforts to get her divorce deal approved by the parliament next week.

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Jeera Dropped As New Season Jeera New Season Jeera Hitting The Market

Jeera trading range for the day is 15505-15945.

Jeera dropped as new season jeera new season jeera hitting the market.

However, downside seen limited on the back of increased buying as a result of lower output amid lower acreage in Gujarat.

Despite lower output in Gujarat, India's cumin seed output is pegged nearly 9% higher at 416,000 tons for 2018-19 because of increased production in Rajasthan.

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Natural Gas Settled Higher On Expectations That A Federal Report On Thursday

Natural gas trading range for the day is 190.6-200.4.

Natural gas settled higher on expectations that a federal report on Thursday will show a much higher-than-normal weekly withdrawal, deepening the storage deficit.

Meteorologists forecast temperatures will remain mostly warmer than normal over the next two weeks, with a few cool days next week.

The market has become much less volatile over the past couple of months as the weather moderates with the approach of spring.

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Silver Trading Range For The Day Is 38556-39046

Silver trading range for the day is 38556-39046.

Silver gained as traders opted for the safe-haven metal after U.K. Prime Minister Theresa May’s Brexit deal suffered another defeat in the British Parliament.

Prices was also supported by some soft February inflation data from the U.S., underlining the case for the Federal Reserve to maintain its current wait-and-see stance.

The Parliament rejected May’s withdrawal deal for the second time, raising concerns of a “hard-Brexit” scenario before the planned departure date on March 29.

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Gold Rose As Investors Opted For The Safe-Haven Metal

Gold trading range for the day is 31923-32461.

Gold rose as investors opted for the safe-haven metal after British lawmakers rejected an amended exit deal, while a weaker dollar lent further support.

The British Parliament rejected Prime Minister Theresa May’s deal to quit the European Union for a second time, deepening the country’s political crisis days.

The weak U.S. inflation data suggests that policy makers may hold back from additional rate increase.

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Crude Oil Trading Range For The Day Is 3919-4039

Crude oil trading range for the day is 3919-4039.

Crude oil gained as OPEC's de facto leader Saudi Arabia appeared to deepen the group's supply cuts aimed at tightening markets

Traders also pointed to the political and economic crisis in OPEC-member Venezuela as a driver for oil prices.

Offsetting OPEC efforts to prop up prices and the impact of disruptions like Venezuela is a surge in U.S. oil supply.

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Silver Trading Range For The Day Is 38416-38996

Silver trading range for the day is 38416-38996.

Silver prices recovered after prices dropped buoyed by encouraging U.S. retail sales and business inventories data.

U.K. Prime Minister Theresa May has secured “legally binding changes” that “strengthen and improve” the nation’s divorce deal from the European Union.

The Commerce Department said retail sales rose by 0.2% in January and business inventories in the U.S. increased by 0.6% in the month of December.

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Gold Prices Rose As The Dollar Weakened After The European Commission

Gold trading range for the day is 31798-32144.

Gold prices rose as the dollar weakened after the European Commission accepted amendments to the UK’s Brexit deal.

EC head Jean-Claude Juncker agreed an updated Brexit deal with British Prime Minister Theresa May to make the agreement more palatable to UK lawmakers.

U.S. retail sales rose modestly in January, but the recovery was not seen strong enough to alter the course of a U.S. economy that was losing momentum in early 2019.

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Silver Prices Drifted Lower As Investors Looked Ahead To Retail Sales Data

Silver trading range for the day is 38175-38857.

Silver prices drifted lower as investors looked ahead to retail sales data and U.S. President Donald Trump’s 2020 budget proposal.

Data showed US employers hired far fewer workers than estimates in February, although the jobless rate fell.

US job growth came to a near halt in February after a blistering start to the year, with nonfarm payrolls increasing by just 20,000.

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Gold Trading Range For The Day Is 31696-32254

Gold trading range for the day is 31696-32254.

Gold inched down as a firm dollar offset support from fading appetite for riskier assets due to mounting global growth concerns.

U.S. payrolls data raised doubts on the strength of the global economy.

Hedge funds and money managers slashed their net long position in COMEX gold in the week to March 5, to its in over a month.

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Mustard Seed Gained On Short Covering After Prices Dropped On Expectation

Rmseed trading range for the day is 3789-3897.

Mustard seed gained on short covering after prices dropped on expectation of higher production prospects this year.

Mustard production is forecast about 84 lakh tonnes, up 1% y/y, in second advance estimate for 2018-19 by Government.

As per SEA, the production will be higher by about 19% this season to over 81 lakh tonnes due to better climate and higher area.

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Zinc Dropped After Trade Data From China Pointed To A Slowing Economy

Zinc trading range for the day is 187.5-194.7.

Zinc dropped after trade data from China pointed to a slowing economy despite recent stimulus measures, denting demand expectations.

China's exports fell by the most in three years in February while imports fell for a third straight month.

China's refined zinc output saw its steepest plunge since 2013 last year, partly due to tight raw material supply and longer maintenance periods.

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Silver Gained Boosted By Fresh Signs Of Cracks For Global Stocks

Silver trading range for the day is 37825-39251.

Silver gained boosted by fresh signs of cracks for global stocks, led by China, and after a weak reading for U.S. hiring rattled investors across risk markets.

U.S. job growth almost stalled in February, with the economy creating only 20,000 jobs as construction and retail payrolls dropped.

The European Central Bank’s fourth round of cheap long-term loans targeted at banks may steer euro zone lenders away from a cliff edge in funding.

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Gold Gained As The Dollar Eased Slightly And Worries About A Sharp Global Economic

Gold trading range for the day is 31824-32398.

Gold gained as the dollar eased slightly and worries about a sharp global economic slowdown after the ECB slashed growth outlook were aggravated by weak Chinese data.

Weak export data from China heightened market fears about a global economic slowdown, a day after the ECB slashed euro zone growth forecasts.

Investors also kept a close eye on trade talks between the United States and China. U.S. President Donald Trump said the talks were moving along well.

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Turmeric Trading Range For The Day Is 6280-6428

Turmeric trading range for the day is 6280-6428.

Turmeric ended with losses due to improving supplies in all the producing centres and projection of higher 2018-19 output.

Prices also seen under pressure on higher supplies prospects from new season crop.

However, downside seen limited on the back of concerns that drought conditions and cold weather will affect the crop production.

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Copper Prices Fell As Rising Stockpiles And A Drop In The Premium

Copper trading range for the day is 450-457.2.

Copper prices fell as rising stockpiles and a drop in the premium for directly available metal signalled a supply squeeze on the London Metal Exchange may be easing.

Inventories in LME-registered warehouses rose to 120,075 tonnes from 116,872 tonnes on Wednesday, the lowest since 2008.

Stockpiles in Shanghai Futures Exchange warehouses have more than doubled to 227,049 tonnes Warehouse stock for Copper at LME was at 120075mt that is up by 3200mt.

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Silver Dropped As The Dollar Gained Versus The Euro After The European Central Bank

Silver trading range for the day is 37713-38417.

Silver dropped as the dollar gained versus the euro after the European Central Bank postponed an interest rate hike.

The US economy is heading into a "new normal" of slower growth that likely will keep monetary policy restrained, Fed’s Williams said.

A report from payroll processor ADP showed U.S. private sector job growth slowed in February after an upwardly revised spike in January.

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Gold Trading Range For The Day Is 31704-32080

Gold trading range for the day is 31704-32080.

Gold dropped as the U.S. dollar advanced after ECB offered banks new rounds of multi-year cash, and pushed out the timing of its first post-crisis rate hike to next year.

The ECB slashed its growth and inflation forecasts for 2019 and lowered those for 2020 and 2021, acknowledging that Europe’s slowdown was longer

The latest batch of economic data out of Europe and the U.S. have turned out to be disappointing and the OECD has cut its forecasts for the global economy.

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