Silver Trading Range For The Day Is 45584-46652

Silver trading range for the day is 45584-46652.

Silver prices gained as trade worries persisted and focus shifted to central bank meetings.

Federal Reserve Chair Jerome Powell hinted that three rate cuts could be enough “insurance” for the time being.

U.S. President Donald Trump said that the first phase of a trade pact with China could be signed "ahead of schedule".

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Gold Prices Gained As Investors Awaited A Decision By The U.S. Federal Reserve

Gold trading range for the day is 37802-38272.

Gold prices gained as investors awaited a decision by the U.S. Federal Reserve on a widely expected rate cut.

The Federal Reserve voted to cut interest by a quarter point.

The trade spat between the world's two largest economies has roiled financial markets around the globe, making them sensitive to the slightest development negotiations.

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Jeera Dropped On Profit Booking After Prices Gained On Good Export Demand Hopes

Jeera trading range for the day is 16140-16680.

Jeera dropped on profit booking after prices gained on good export demand hopes as output in Syria and Turkey.

Currently, export demand is almost zero and production is expected to increase in the coming season.

As per data arrivals of jeera in Gujarat is about 30,000 tn compared to 7,500 tn last year same period.

In Unjha, a key spot market in Gujarat, jeera edged up by 11.05 Rupees to end at 16643.75 Rupees per 100 kg.

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Turmeric Trading Range For The Day Is 5938-6254

Turmeric trading range for the day is 5938-6254.

Turmeric dropped on profit booking after prices gained as buyers are active as crop loss in Maharashtra, Karnataka and Tamil Nadu is also reported to be low.

Turmeric sowing reported 12,583 hectares as compared to 17,602 hectares in the corresponding period last year.

The average supply of turmeric in Duggirala market in Andhra Pradesh is around 5,000-6,000 quintals per day.

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Silver Trading Range For The Day Is 44987-46585

Silver trading range for the day is 44987-46585

Silver prices moved higher with global central banks set to continue with their monetary easing stance to boost growth.

The ECB left its key interest rates, forward guidance, and stimulus measures unchanged as expected in the final policy session chaired by President Mario Draghi.

The Federal Reserve is widely expected to cut interest rate by 25 basis points when it next meets to review its policy stance on October 29 and 30.

Fed Rate Monitor Tool, investors see a 94.1% chance of the Fed cutting rates for the third time this year next week.

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Gold Prices Gained After Weak Economic Data From The United States

Gold trading range for the day is 37856-38620.

Gold prices gained after weak economic data from the United States increased expectations for another rate cut by the Federal Reserve.

New orders for key U.S.-made capital goods fell more than expected in September and shipments also declined, the data showed.

Also adding to the concerns over the health of the global economy, Euro zone business activity stagnated in October as demand withered, according to a downbeat survey.

The Fed has cut interest rates twice this year and investors currently see another reduction in borrowing costs when policymakers meet next week.

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Ref Soyoil Settled Flat On Hopes Of Higher Demand For Biodiesel

Ref.Soya oil trading range for the day is 753-761.

Ref soyoil settled flat on hopes of higher demand for biodiesel.

Also prediction of rains in Maharashtra during the next two days aided the uptrend.

India’s September edible oil stocks at ports and pipelines fell 11.75 percent m-o-m to 18.02 lakh tons from 20.42 lakh tons in August 2019.

At the Indore spot market in Madhya Pradesh, soyoil was steady at 753.75 Rupees per 10 kgs.

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Mustard Seed Gained As Sowing Of Mustard Seed Has Been Delayed

Rmseed trading range for the day is 4168-4308.

Mustard seed gained as sowing of mustard seed has been delayed due to late harvesting of kharif crops because of extended monsoon rains.

Hopes of hike in MSP for the next season also had a bullish impact on prices.

Minimum support price for mustard seed, is likely to be hiked to Rs 4,425 from Rs 4,200 a quintal.

In Alwar spot market in Rajasthan the prices gained 12.9 Rupees to end at 4346.9 Rupees per 100 kg.

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Natural Gas Prices Gained As Cold Weather Forecasts Offset Near Record Production

Natural gas trading range for the day is 156.1-166.5.

Natural gas prices gained as cold weather forecasts offset near record production and expectations the surplus of gas in storage will grow.

Over the next 6-10 days, the U.S. NWS forecast temperatures in the Lower 48 U.S. states would remain colder than usual west of the Mississippi River and warmer in the Southeast.

Utilities likely added a bigger-than-usual 91 billion cubic feet (bcf) of gas to storage during the week ended Oct. 18.

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Crude Oil Gained After OPEC Sources States That OPEC

Crude oil trading range for the day is 3733-3955.

Crude oil gained after OPEC sources states that OPEC and allies will consider deeper oil cuts at December meeting due to weak demand growth outlook in 2020.

U.S. crude stockpiles were expected to have risen for the sixth straight week, while refined inventories likely fell last week.

China has issued more crude oil import quotas for mostly private refiners that will allow them to bring in a further 12.9 million tonnes for the rest of 2019.

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Silver Trading Range For The Day Is 44987-46229

Silver trading range for the day is 44987-46229.

Silver settled flat as investors watched Brexit developments and monitored the news flow in the U.S.-China trade talks.

Bank of England Deputy Governor Dave Ramsden put the prospect of rate hikes back on the table in the case that the U.K. leaves the EU smoothly, with a transitional deal.

U.S. homebuilding tumbled from more than a 12-year high in September, but single-family home construction rose for a fourth straight month.

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Gold Dropped As Investors Looked To Pick Up Riskier Assets Amid Renewed

Gold trading range for the day is 37726-38172.

Gold dropped as investors looked to pick up riskier assets amid renewed optimism the U.S. and China will sign the first phase of trade deal by the middle of November.

In another sign the trade dispute is dragging on economic growth, data from China showed its third-quarter economic growth slowed to its weakest pace in almost three decades.

India's gold imports plunged 68% year-on-year in September to their lowest in over three years as record domestic prices curbed retail buying.

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Jeera Prices Dropped Amid Prospects Of Good Crop Next Season

Jeera trading range for the day is 16200-16460.

Jeera prices dropped amid prospects of good crop next season.

Pressure also seen because of high moisture content in the spice, due to rainfall in the key producing areas of Gujarat.

Overall, the export of Jeera has dropped 6.4% in the first quarter of FY20 to 71,000 compared to 75,800 tn in the same period last fiscal.

In Unjha, a key spot market in Gujarat, jeera edged down by -85.6 Rupees to end at 16585 Rupees per 100 kg.

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Turmeric Trading Range For The Day Is 5664-5896

Turmeric trading range for the day is 5664-5896.

Turmeric prices dropped on better crop prospects amid weak export demand from Iran.

As per Andhra Pradesh Govt, Turmeric sowing reported 10,345 hectares as compared to 17,640 hectares in the corresponding period last year.

The total area sown under turmeric in Telangana was at 48,315 hectare in the current 2019-20 season, slightly up from 47,790 hectare

In Nizamabad, a major spot market in AP, the price ended at 5964.3 Rupees dropped -19.05 Rupees.

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Zinc Settled Flat Amid Falling LME Zinc Inventories And A Firm Backwardation

Zinc trading range for the day is 185.6-188.6.

Zinc settled flat amid falling LME zinc inventories and a firm backwardation, pointing to tightness in supply overseas.

The premium for LME cash zinc to the three-month contract stood at $37/mt.

Data showed that social inventories of refined zinc across Shanghai, Tianjin and Guangdong inched up over the weekend

Warehouse stock for Zinc at LME was at 61625mt that is down by -400mt.

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Copper Remained Under Pressure On Profit Booking As The Market Refocused

Copper trading range for the day is 440.8-445.2.

Copper remained under pressure on profit booking as the market refocused on fundamentals after bullish sentiment about US-China trade and Brexit eased.

China's factory gate prices declined at their fastest pace in more than three years in September.

Chile's Codelco, the world's largest copper producer, said it is evaluating the closure of its Ventanas copper smelter in a polluted coastal region.

Warehouse stock for Copper at LME was at 274975mt that is down by -2375mt.

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Silver Trading Range For The Day Is 44999-46233

Silver trading range for the day is 44999-46233.

Silver gained after the U.S. and China reached a "phase one" trade deal late last week, which saw the U.S. paused tariffs slated to hit imports of Chinese goods this week.

U.S. President Donald Trump says the two nations had reached a "very substantial phase one deal."

Lingering Brexit uncertainty and weak Chinese data also rekindled investor worries about slowing economic growth.

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Gold Trading Range For The Day Is 37583-38601

Gold trading range for the day is 37583-38601.

Gold firmed as a lack of clarity on U.S.-China trade ties pushed investors back to safe havens and drove a retreat in stock markets.

U.S. President Donald Trump outlined the first phase of a deal to end the protracted Sino-U.S. trade war and suspended a threatened tariff hike.

Investors are now looking forward to a summit between the European Union and Britain in Brussels on Thursday and Friday.

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Silver Dropped As Global Risk Appetite Revived On Hopes

Silver trading range for the day is 44344-46242.

Silver dropped as global risk appetite revived on hopes of at least partial fixes to the problems of Brexit and the U.S.-China trade dispute.

Reports indicated that the EU and U.K. were entering “more intense” discussions of U.K. Prime Minister Boris Johnson’s latest proposals to avoid a disorderly Brexit.

Sentiment among American consumers posted a surprise jump in October amid expectations for rising incomes and lower inflation.

The University of Michigan's preliminary sentiment index advanced to a three-month high of 96 from September’s 93.2, data showed.

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Gold Prices Fell As Optimism Around The U.S.-China Trade Talks

Gold trading range for the day is 37303-38621.

Gold prices fell as optimism around the U.S.-China trade talks and the possibility of a Brexit deal diminished some safe-haven interest in bullion.

The talks between U.S. and Chinese negotiators fed hopes that the two sides could dial down the 15-month dispute and delay a U.S. tariff hike scheduled for next week.

Gold demand in was subdued as investors awaited outcome of crucial trade negotiations with US, while purchases in India during a key festival were lower-than-usual.

Gold imports in India plunged 68% year-on-year in September to their lowest in over three years as record domestic prices curbed retail buying.

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Mustard Seed Prices Gained As Support Seen After Revival Of Fresh Buying

Rmseed trading range for the day is 4074-4132.

Mustard seed prices gained as support seen after revival of fresh buying by millers in physical to meet the likely demand of mustard oil.

India's Nov-Aug rapeseed oil imports slipped to 59,171 tons from 2.29 lakh tons a year ago due to higher prices in the global markets.

NAFED had procured around 1.08 million tonnes mustard seed harvested in 2018-19 under a price-support scheme.

In Alwar spot market in Rajasthan the prices remains unchanged by 0 Rupees to end at 4353.3 Rupees per 100 kg.

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Soyabean Gained On Fears Of Damage To Standing Crops Due To Prediction

Soyabean trading range for the day is 3616-3690.

Soyabean gained on fears of damage to standing crops due to prediction of heavy rains over Madhya Pradesh.

Crop loss in Madhya Pradesh and bleak yield expectation from Rajasthan will reduce India's soybean output to around 95-100 lakh tonnes.

Indian soymeal exports, facing a stiff competition from its North American and South American peers.

At the Indore spot market in top producer MP, soybean remains unchanged at 0 Rupees to 3771 Rupees per 100 kgs.

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Crude Oil Gained Following Media Reports That China Was Open To Agreeing

Crude oil trading range for the day is 3673-3873.

Crude oil gained following media reports that China was open to agreeing a partial trade deal with the United States.

Turkey's military operation in northern Syria also supported prices as it could impact regional oil production.

U.S. crude stocks rose last week as refineries cut output, while gasoline and distillate inventories fell, the Energy Information Administration said.

U.S. crude stocks rose last week, while gasoline and distillate stocks drew, data from industry group the American Petroleum Institute showed.

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Gold Gained Ahead Of Minutes From The U.S. Federal Reserve's September Meeting

Gold trading range for the day is 38146-38750.

Gold gained ahead of minutes from the U.S. Federal Reserve's September meeting.

U.S. President Donald Trump has said tariffs on Chinese imports will rise on Oct. 15 if no progress is made in the negotiations.

Investors monitored the latest news around US-China trade talks and digested comments from the top Federal Reserve official.

Market participants are uncertain if a breakthrough can be achieved between Washington and Beijing in the long drawn out trade dispute that has rattled financial markets.

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Silver Prices Rose As The Dollar Eased As Investors Awaited Fed's September Minutes

Silver trading range for the day is 45213-46475.

Silver prices rose as the dollar eased as investors awaited Fed's September minutes and braced for the next round of high-level trade talks between the U.S. and China.

U.S. producer prices unexpectedly fell in September, which could give the Federal Reserve room to cut interest rates again this month

While the unemployment rate dropped to near a 50-year low of 3.5% in September, hiring slowed significantly.

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Gold Rose Ahead Of Minutes From The U.S. Federal Reserve And Trade Talks

Gold trading range for the day is 38028-38776.

Gold rose ahead of minutes from the U.S. Federal Reserve and trade talks between Washington and Beijing.

China said it would take measures to protect its sovereign security following Washington's move to blacklist Chinese companies.

Investors are awaiting the U.S. FOMC’s minutes from its September meeting on Wednesday for clues on whether the central bank will cut rates at its October session.

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Silver Trading Range For The Day Is 44362-46258

Silver trading range for the day is 44362-46258.

Silver remained under pressure as bets the U.S. Federal Reserve would cut interest rates aggressively this year were tempered after better-than-expected U.S. jobs data

U.S. job growth increased moderately in September, with the unemployment rate dropping to near a 50-year low of 3.5%

The U.S. trade deficit increased in August as imports of consumer goods surged to a record high.

Traders continued to price in a quarter-point decrease in the Fed's policy rate target, to a range of 1.5% to 1.75%, at the central bank's Oct. 29-30 meeting.

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Gold Prices Fell Slightly As US Bond Yields Rose After The Monthly Labor Report

Gold trading range for the day is 37859-38855.

Gold prices fell slightly as US bond yields rose after the monthly labor report showed the U.S. economy still adding jobs at a decent rate in September.

Data showed services sector activity slowed to a three-year low in September, following the manufacturing sector, which contracted to the weakest level in a decade.

In September, sluggish demand forced dealers to offer a discount of up to $51 an ounce from official domestic prices, the biggest since August 2016.

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Natural Gas Trading Range For The Day Is 159.5-168.7

Natural gas trading range for the day is 159.5-168.7.

Natural gas dropped weighed down by record production and forecasts for the weather to moderate over the next two weeks.

Gas output in the Lower 48 states has averaged a near record high of 92.8 billion cubic feet per day in the past 30 days.

The U.S. Energy Information Administration said utilities added 102 bcf of gas to storage during the week ended Sept. 20 verses 89-bcf build.

Utilities likely added 105 bcf of gas to storage during the week ended Sept. 27. That compares with an injection of 91 bcf during the same week last year.

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Crude Oil Prices Dropped On Fading Concerns Of Supply Shortfalls And Conflicts

Crude oil trading range for the day is 3722-3964.

Crude oil prices dropped on fading concerns of supply shortfalls and conflicts in the Middle East after the Sept. 14 attack on Saudi Arabia.

Output from the Organization of the Petroleum Exporting Countries and Russia fell in September while production from the United States dropped for a third month in July.

OPEC's output fell to the lowest in eight years in September at 28.9 million barrels per day (bpd), down 750,000 bpd from August's revised figure.

Russia's output declined to 11.24 million bpd in Sept. 1-29, down from 11.29 million bpd in the previous month.

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Silver Dropped As Worries Of An Immediate Widening Of The Sino-U.S. Trade

Silver trading range for the day is 43160-45750.

Silver dropped as worries of an immediate widening of the Sino-U.S. trade war drove some investors to the safety of the dollar.

In the US, consumer spending consumer spending barely rose in August, suggesting that the economy's main growth engine was slowing.

The Commerce Department said consumer spending, edged up an adjusted 0.1% in August from July.

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Gold Fell As Uncertainties Around The U.S.-China Trade War Drove Some Investors

Gold trading range for the day is 36796-38292.

Gold fell as uncertainties around the U.S.-China trade war drove some investors to the safety of the dollar, pressuring assets priced in the U.S. currency.

The White House is not contemplating such a move at this time, after reports the U.S. administration was considering the measure.

Speculators raised their bullish positions in COMEX gold and reduced bullish bets on silver contracts in the week to Sept. 24, the U.S. CFTC said.

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