Silver Trading Range For The Day Is 43874-44420

Silver trading range for the day is 43874-44420.

Silver gained after U.S. President Donald Trump signed a legislation supporting Hong Kong protesters, casting fresh doubts about a trade deal.

Fed's Kaplan says must be looking forward with monetary policy and not to make commitments on how we will act in future.

Trump will go forward with a scheduled round of Dec. 15 tariffs if the U.S. and China haven't agreed to a trade deal by then.

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Gold Trading Range For The Day Is 37462-37878

Gold trading range for the day is 37462-37878.

Gold gained as investors bought the safe-haven metal on doubts about whether the United States and China will seal a trade deal.

Economic growth picked up slightly in the third quarter, weekly jobless claims fell, while new orders for key U.S.-made capital goods increased.

The number of Americans filing claims for unemployment benefits dropped last week after standing at a five-month high for two straight weeks.

NAR said its pending home sales index, based on contracts signed last month, decreased 1.7% to a reading of 106.7.

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Aluminium Dec Daily Chart Has Formed "Falling channel" Pattern

Aluminium Dec daily chart has formed "Falling channel" pattern. The last few sessions ended up in sideways trend along with some corrections inside the channel. 

The market is expected to continue on the bullish momentum based on the current price action, once the same breaks above a key resistance holding at 133.50. 

The upside rally could be testing all the way through 135-137 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 130 level. Key support holds at 130.

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Copper Dec Daily Chart Has Formed "Rectangle chart" Pattern

Copper Dec daily chart has formed "Rectangle chart" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. 

The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 434. 

The downside rally could be testing all the way through 430-426 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 440 level. Key resistance holds at 440.

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Natural Gas Fell On Forecasts For Less Cold Weather And Heating Demand

Natural gas trading range for the day is 175-188.6.

Natural gas fell on forecasts for less cold weather and heating demand over the next two weeks than previously expected.

Meteorologists currently forecast the weather over much of the U.S. Lower 48 states will remain near normal through Nov. 30.

Stockpiles will likely return to a surplus over the five-year average during the next month or so as rising production enables utilities to leave more gas in storage.

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Crude Oil Gained As Positive Comments From The United States And China

Crude oil trading range for the day is 4108-4218.

Crude oil gained as positive comments from the United States and China rekindled hopes in global markets that the world's two largest economies could soon sign an interim deal. Wednesday, November 27, 2019

Global oil demand in the third quarter of 2019 grew by 1.1 million barrels a day, more than double the 435,000 barrels a day

OPEC crude production came in at 29.9 million barrels a day, down 2.5 million from the same period last year.

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Zinc Prices Ended With Gains After Data Pointed To A Weekly Decline

Zinc trading range for the day is 183.7-190.5.

Zinc prices ended with gains after data pointed to a weekly decline in China’s social inventories of refined zinc.

The global zinc market deficit narrowed in September to 21,400 tonnes from an revised deficit of 27,000 tonnes in August, data from ILZSG.

Social inventories of refined zinc across Shanghai, Tianjin and Guangdong decreased by 5,800 mt

Warehouse stock for Zinc at LME was at 59875mt that is up by 525mt.

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Copper Settled Flat After Comments By The Chinese President Raised Hopes

Copper trading range for the day is 434-438.4.

Copper settled flat after comments by the Chinese president raised hopes that a trade deal would be struck with the United States.

Copper stocks across Shanghai bonded areas extended their increase, rising 5,800 mt from a week ago to 243,800 mt as of November 22.

LME copper inventories fell to 218,925 tonnes, the lowest since June 10, data showed.

Warehouse stock for Copper at LME was at 218925mt that is down by -3150mt.

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Silver Trading Range For The Day Is 44419-45009

Silver trading range for the day is 44419-45009.

Silver prices drifted lower after the minutes Fed’s interest-rate-setting committee suggested the bank will not likely change interest rates soon.

Losses remain limited amid renewed uncertainty about the Phase 1 trade deal between the U.S. and China.

U.S. President Trump told reporters that he has not made a trade deal with China yet because Beijing is not "stepping up" in negotiations.

After reporting a continued slowdown in the pace of growth in regional manufacturing activity in the previous month.

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Gold Prices Eased After A Report That China Has Invited Top U.S. Negotiators

Gold trading range for the day is 37749-38295.

Gold prices eased after a report that China has invited top U.S. negotiators for a new round of face-to-face talks.

Beijing has also invited top U.S. trade negotiators for a new round of face-to-face talks.

The number of Americans filing applications for unemployment benefits was unexpectedly unchanged at a five-month high last week.

The Fed’ minutes said the decision to remove the "act as appropriate" language from the statement was seen as consistent.

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Lead Nov Daily Chart Has Formed “Ascending Broadening Wedge” Pattern

Lead Nov Daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up in sideways trend along with some corrections inside the channel.

The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 153.50.

The downside rally could be testing all the way up to 152-151 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 158 level. Key resistance holds at 158.

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Aluminium Nov Daily Chart Has Formed "Falling Channel" Pattern

Aluminium Nov daily chart has formed "Falling channel" pattern. The last few sessions ended up in sideways trend along with some corrections inside the channel.

The market is expected to continue on the bearish momentum based on the current price action, once the same breaks below a key support holding at 130. The downside rally could be testing all the way through 128-126 levels in the upcoming sessions.

Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 134 level. Key resistance holds at 134.

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Nickel Trading Range For The Day Is 1072.7-1106.5

Nickel trading range for the day is 1072.7-1106.5.

Nickel prices ended with losses as markets awaited firmer signs of an end to the US-China trade conflict.

Pressure also seen as supply concerns eased while worries about demand intensified on falling stainless steel prices.

Indonesia has allowed nine companies to resume nickel ore exports after inspections into reports of ore export rules violations.

Warehouse stock for Nickel at LME was at 66174mt that is up by 1344mt.

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Copper Prices Settled With Some Gain's As Market Sentiment Improved

Copper trading range for the day is 434.5-439.9.

Copper prices settled with some gain's as market sentiment improved after the US granted Huawei a new 90-day license extension

China’s central bank said that it was lowering the seven-day reverse repurchase rate to 2.50% from 2.55%, the first such cut in more than four years.

Speculative positioning in LME copper remain largely neutral at last Thursday's close, at 1.1% of open interest falling from 12.7% on Oct. 7.

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Natural Gas Fell On Forecasts For Weather Over The Next Two Weeks

Natural gas trading range for the day is 180.4-196.2.

Natural gas fell on forecasts for weather over the next two weeks that will be warmer than previously expected.

Utilities likely pulled 79 billion cubic feet of gas from storage during the week ended Nov. 15, their first withdrawal of the November-March heating season.

Speculators last week cut their net short positions on the NYMEX and Intercontinental Exchange by 17,690 contracts to 69,145.

Gas production in the Lower 48 states held at 95.1 bcfd for a second day in a row, according to Refinitiv data.

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Crude Oil Dropped Due To Excess Supply In The Market

Crude oil trading range for the day is 4008-4196.

Crude oil dropped due to excess supply in the market and on uncertainty over a potential trade deal between the U.S. and China.

U.S. shale production is likely to climb by 49,000 barrels a day in December to 9.133 million barrels a day.

Saudi Arabia's crude oil exports in September fell by 3% to 6.67 million barrels per day from 6.88 million bpd in August, official data showed.

Crude stocks fell by 20.27 million bpd to 152.48 million bpd while domestic refinery crude throughput rose by 10,000 bpd to 2.584 million bpd.

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Natural Gas Prices Ended With Gains After Forecasts Called For Colder Weather

Natural gas trading range for the day is 184.5-200.1.

Natural gas prices ended with gains after forecasts called for colder weather than previously expected for the rest of November.

After a cold snap, the U.S. NWS forecast temperatures in the Lower 48 U.S. states would remain a little cooler than normal in the eastern half of the country

Utilities likely pulled 79 billion cubic feet (bcf) of gas from storage during the week ended Nov. 15, their first withdrawal of the November-March heating season.

Gas production in the Lower 48 states held at 94.8 bcfd for a second day in a row, according to Refinitiv data.

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Crude Palm Oil Ended With Losses On Profit Booking After Prices Gained

CPO trading range for the day is 631.2-654.8.

Crude palm oil ended with losses on profit booking after prices gained as the Malaysia’s output in October unexpectedly dropped.

The Malaysian Palm Oil Board announced on Monday that stockpiles and production in October unexpectedly dropped.

Stockpiles stood at 2.3 million tonnes at the end of October, down 4.1% from the previous month.

Crude palm oil prices in the spot market dropped by 0.80 rupees and settled at 637.50 rupees.

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Jeera Prices Gained On Good Export Demand Hopes As Output In Syria

Jeera trading range for the day is 16210-16690.

Jeera 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 88.1 Rupees to end at 16722.9 Rupees per 100 kg.

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Turmeric Prices Gained On Fears Of Delay In Harvesting And Weak Supplies

Turmeric trading range for the day is 5796-6104.

Turmeric prices gained on fears of delay in harvesting and weak supplies.

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

At the Erode Turmeric Merchants Association Sales yard, finger turmeric was sold at Rs 5,700-7,269 a quintal

In Nizamabad, a major spot market in AP, the price ended at 6100 Rupees gained 50 Rupees.

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Silver Prices Gained Due To Growing Uncertainty About U.S. China Trade

Silver trading range for the day is 43815-45085.

Silver prices gained due to growing uncertainty about U.S.-China trade deal and rising tensions in Hong Kong

Trump said that “no one has manipulated better or taken advantage of the United States more” since China’s entrance into the World Trade Organization in 2001.”

Trump said a trade deal with China "could happen soon" although he did not provide details on the state of trade talks between the two countries.

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Gold Prices Rose After A Speech By U.S. President Donald Trump Dashed Hopes

Gold trading range for the day is 37642-38376.

Gold prices rose after a speech by U.S. President Donald Trump dashed hopes for a positive sign on a U.S.-China trade deal.

Prices also gained growing worries that trade talks are stalling and concern about intensifying unrest in Hong Kong hurt demand for risky assets.

U.S. and Chinese negotiators were "close" to a "phase one" trade deal, Trump said in speech, but offered no new details on negotiations.

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Zinc Trading Range For The Day Is 194-196.6

Zinc trading range for the day is 194-196.6.

Zinc prices dropped as expectations of a sustained rebound in social inventories amid rising production kept investors pessimistic.

China’s monthly production of refined zinc hit a fresh record high October, as high margins encouraged smelters to step up operations.

Data showed that about 529,300 mt of refined zinc was produced across China last month, up 2.64% from September

Warehouse stock for Zinc at LME was at 53250mt that is up by 3150mt.

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Copper Dropped After Trump Said That Trade Talks With China

Copper trading range for the day is 438.4-441.4.

Copper dropped after Trump said that trade talks with China were moving along "very nicely", though uncertainty remained whether a deal would be signed this year

Concerns of a drop in copper demand also weighed on prices, after China reported weak imports of the metal.

China's copper imports fell 3.1% in October from the previous month, customs data showed.

Warehouse stock for Copper at LME was at 229350mt that is down by -4850mt.

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Silver Trading Range For The Day Is 42948-44910

Silver trading range for the day is 42948-44910.

Silver prices dropped even as doubts about the prospects of a formal U.S.-China trade deal resurfaced

Fresh worries over U.S.-China trade talks unnerved markets, offsetting better-thanexpected trade data from China.

There is a divide within the administration over whether rolling back tariffs will give away U.S. leverage in the negotiations.

Labor Department said the less volatile four-week moving average crept up 215,250, an increase of 250 from the previous week's revised average of 215,000.

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Gold Prices Edged Higher As Uncertainty Around U.S.-China Trade Deal

Gold trading range for the day is 37286-38070.

Gold prices edged higher as uncertainty around U.S.-China trade deal dented investors' risk appetite.

An agreement between the United States and China to roll back existing tariffs as part of a 'phase one' trade deal faced fierce internal opposition.

US Initial claims for state unemployment benefits decreased 8,000 to a seasonally adjusted 211,000, the Labor Department said.

The Bank of England is growing increasingly concerned about Brexit uncertainty and the global slowdown.

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

Jeera trading range for the day is 16170-16790.

Jeera prices 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 66.6 Rupees to end at 16884 Rupees per 100 kg.

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Turmeric Trading Range For The Day Is 6260-6460

Turmeric trading range for the day is 6260-6460.

Turmeric prices gained as buyers are active as crop loss in 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 Prices Edged Higher As Investors Took A Step Back From Riskier Assets

Silver trading range for the day is 44836-46136.

Silver prices edged higher as investors took a step back from riskier assets in the absence of concrete developments on the U.S.-China trade front.

The U.S. dollar was close to its highest in almost a week after recent data suggested the outlook for the world's largest economy is not as bad as some had feared.

Investor sentiment received a boost after reports that the U.S. is considering dropping tariffs on $112 billion worth of Chinese imports.

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Gold Gained As The Dollar Weakened A Bit And Equities Stayed

Gold trading range for the day is 37766-38526.

Gold gained as the dollar weakened a bit and equities stayed largely subdued.

Support seen after Goldman Sachs Group raised concerns of a US recession as the trade war with China intensifies, boosting the impact on economic growth.

Optimism that Washington and Beijing are working to narrow their differences enough to sign a "phase one" trade deal as early as this month.

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Crude Oil Trading Range For The Day Is 3942-4122

Crude oil trading range for the day is 3942-4122.

Crude oil dropped amid doubts over whether OPEC and other countries will continue to restrain output

OPEC Secretary-General Mohammad Barkindo said that the oil market outlook for 2020 may have upside potential, appearing to downplay any need for deeper cuts to production.

OPEC released its 2019 World Oil Outlook, in which the producer group said it would supply a diminishing amount of oil in the next five years.

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Natural Gas Rose As Investors Covered Shorts On Forecasts

Natural gas trading range for the day is 198.1-208.1.

Natural gas rose as investors covered shorts on forecasts for colder-than-usual weather over the next two weeks.

Data provider Refinitiv projected 367 heating degree days in the Lower 48 U.S. states over the next two weeks.

Utilities likely added a smaller-than-normal 45 billion cubic feet of gas to storage during the week ended Nov. 1.

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Copper Prices Gained On The Back Of US-China Trade Hope And Upbeat Data

Copper trading range for the day is 437.2-444.2.

Copper prices gained on the back of US-China trade hope and upbeat data from the US job market and China’s manufacturing sector.

Copper stocks across Shanghai bonded areas this week continued their decline that began since May.

Concerns about US trade conflicts with China and others remain a factor but have receded, according to the ISM’s monthly survey.

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Gold Prices Were Steady As The Dollar Eased On Soft Manufacturing Survey

Gold trading range for the day is 38259-38617.

Gold prices were steady as the dollar eased on soft manufacturing survey, while signs of a U.S.-China trade deal stoked risk appetite, capping gains.

US and China said they made progress in talks aimed at defusing a nearly 16-month-long trade war that has harmed the global economy.

Markets took further optimism from economic data last week that eased apprehensions of a slowdown fuelled by the long-drawn trade war.

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Silver Prices Dropped After A Stronger Than Expected Labor Market Report

Silver trading range for the day is 45984-47024.

Silver prices dropped after a stronger-than-expected labor market report that showed the U.S. economy still creating jobs at a decent clip.

The latest jobs report gave the stock market everything it wanted, with strong payroll growth and tamer inflation.

The ISM manufacturing survey showed the sector still in contractionary territory, with falling prices and lower incoming orders.

The U.S. economy added 128,000 jobs in October, more than the 89,000 expected.

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Gold Prices Eased As Better Than Expected U.S. Jobs Numbers And Strong Factory Data

Gold trading range for the day is 38093-38655.

Gold prices eased as better-than-expected U.S. jobs numbers and strong factory data from China bolstered sentiment for riskier assets.

The Fed cut interest rates for a third time this year, but signalled there would be no further reductions unless the economy takes a turn for the worse.

Dallas Federal Reserve Bank President Robert Kaplan said the U.S. central bank now has monetary policy at a “roughly” appropriate setting.

Gold discounts in India widened as physical demand cooled because of high prices after a busy festival week while activity in other Asian hubs was largely steady.

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Natural Gas Extended Losses Following The Release Of A Federal Report Showing

Natural gas trading range for the day is 180.6-198.

Natural gas extended losses following the release of a federal report showing a slightly bigger-than-expected storage build last week.

Earlier in the session, the prices gained on forecasts calling for cold weather to blanket much of the country though mid-November.

EIA said utilities added a bigger-than-usual 89 billion cubic feet of gas to storage during the week ended Oct. 25.

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Crude Oil Dropped As Prices Came Under Pressure From Rising U.S. Crude Oil Stocks

Crude oil trading range for the day is 3754-3990.

Crude oil dropped as prices came under pressure from rising U.S. crude oil stocks and weak factory activity in China.

Crude inventories rose 5.7 million barrels in the week to Oct. 25, the U.S. Energy Information Administration said

The American Petroleum Institute had previously reported a decline of 708,000 barrels, raising hopes that official figures would also show a fall.

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