Silver Trading Range For The Day Is 46247-47433

Silver trading range for the day is 46247-47433.

Silver prices rallied as investors await more details on the phase one trade deal agreement between the U.S. and China.

Prices are rising on apprehensions over the U.S.-China trade deal and Trump and his impeachment proceedings.

U.S President Donald Trump said, he and Chinese President Xi Jinping will hold a ceremony to sign the agreement.

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Gold Trading Range For The Day Is 38679-39295

Gold trading range for the day is 38679-39295.

Gold prices rose holding firm above the key $1,500 level, as investors braced for a robust equity rally to run out of steam.

Meanwhile, news that Russia could consider a part-investment of its National Wealth Fund in gold provided some further support to the yellow-metal

Gold prices flipped to a premium in India due to limited supplies even as demand remained subdued, while other Asian regions barely saw any holiday purchasing.

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Copper Jan Daily Chart Has Formed "Megaphone Chart" Pattern

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

The market is expected to continue on bullish momentum based on the current price action, testing all the way through 450 level in the upcoming sessions.

Alternatively, if the market breaks below a key support holding at 444 then it might turn bearish once again. The downside rally could test up to 440 level. Key resistance holds at 450.

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Natural Gas Daily Chart Has Formed “Falling Channel” Pattern

Natural gas daily chart has formed “Falling channel” pattern. The last few sessions ended up in sideways trend inside the channel.

The market is expected to continue on bullish momentum based on the price action, once the same breaks above a key resistance holding at 165. The upside rally could be testing all the way through 172 levels in the upcoming sessions.

Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 156 level. Key support holds at 156.

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Zinc Prices Fell As A Rise In Chinese Inventories Stoked Demand Concerns

Zinc trading range for the day is 177.6-181.2.

Zinc prices fell as a rise in Chinese inventories stoked demand concerns and prompted investors to go short on the metal used to galvanise steel.

However, zinc inventories in warehouses monitored by the Shanghai Futures Exchange have almost halved in the fourth quarter.

Warehouse stock for Zinc at LME was at 51900mt that is down by -500mt.

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Copper Trading Range For The Day Is 441.4-448.2

Copper trading range for the day is 441.4-448.2.

Copper settled down despite of progress on a U.S.-China trade deal and improved economic data lifted some clouds from the demand outlook.

China will lower tariffs on some products next year as Beijing looks to boost imports and economic growth.

China imported 101,835 mt of copper scrap in November, down 58% from a year ago, according to data from China customs.

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Silver Trading Range For The Day Is 44343-45377

Silver trading range for the day is 44343-45377.

Silver pared gains worries about U.S.-China trade dispute eased following the two countries agreeing on a phase one trade deal and looking set to sign the agreement early next month.

U.S. home sales dropped more than expected in November due to an ongoing shortage of properties for sale.

The U.S. current account deficit fell to more than a one-year low in the third quarter as imports declined sharply and the surplus on primary income swelled.

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Gold Dropped After The United States And China Agreed An Initial Trade Deal

Gold trading range for the day is 37852-38190.

Gold dropped after the United States and China agreed an initial trade deal, while the U.S. dollar was holding close to a one-week peak.

U.S. Treasury Secretary Steven Mnuchin said the two countries would sign their so-called phase one trade pact at the beginning of January.

Data showed the initial U.S. jobless claims report was strong with applications for unemployment benefits slipping from a more than two-year high.

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Natural Gas Slipped On Forecasts Confirming The Weather Will Turn Warmer

Natural gas trading range for the day is 156.6-166.

Natural gas slipped on forecasts confirming the weather will turn warmer than normal through the end of the year despite signs the new year could start with a cold snap.

Prices remained under pressure due to warmer than usual weather and expectations inventories will remain over the five-year average in coming months.

EIA said utilities pulled 107 billion cubic feet of gas from storage during the week ended Dec. 13.

Meteorologists projected the weather in the U.S. Lower 48 states will turn from colder than normal now to warmer from Dec. 22-29 before turning colder.

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Crude Oil Trading Range For The Day Is 4289-4407

Crude oil trading range for the day is 4289-4407.

Crude oil prices rose amid easing worries about outlook for energy demand on hopes the U.S. and China will soon sign the phase one trade deal.

U.S. crude stocks fell while gasoline and distillate inventories rose, the Energy Information Administration said.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 265,000 barrels in the last week, EIA said.

U.S. gasoline stocks rose by 2.5 million barrels in the week to 237.3 million barrels, the highest since March. Distillate.

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Silver Trading Range For The Day Is 43996-44814

Silver trading range for the day is 43996-44814.

Silver prices traded in range unmoved by the re-emergence of Brexit risks as strongerthan-expected U.S. data boosted risk appetite.

The news pushed the British pound down, but provided little support to the safe-haven as positive-looking U.S. data supported risk sentiment.

Housing starts were close to their highest in 10 years, while growth of the industrial production were also stronger than expected, data showed.

A report from the Fed showed U.S. industrial production rebounded by more than expected in the month of November.

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Gold Prices Were Remained In Range With Investors Awaiting More Details

Gold trading range for the day is 37710-38096.

Gold prices were remained in range with investors awaiting more details on the U.S.-China trade deal.

Dallas Fed President Robert Kaplan reiterated that interest rates will be kept on hold unless there is a huge change in the U.S. economic outlook.

President Donald Trump's calls for the Federal Reserve weaken the greenback more, in order to increase exports and the boost the overall economic health.

Britain set a hard deadline of December 2020 to reach a new trade deal with the European Union, reviving fears of a chaotic exit from the bloc.

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Zinc Trading Range For The Day Is 181.4-184.6

Zinc trading range for the day is 181.4-184.6.

Zinc prices gained as news of an US-China trade deal lifted sentiments and zinc inventories across LME-listed warehouses shrank 1.1%.

Social inventories of refined zinc across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei stood at 118,100 mt.

China’s industrial output growth accelerated much more than expected to 6.2% in November from a year earlier, a five-month high.

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Copper Trading Range For The Day Is 441.4-445.6

Copper trading range for the day is 441.4-445.6.

Copper prices rose after Washington said an initial deal to resolve the Sino-U.S. trade war was "totally done" but lingering scepticism capped gains.

Chile's Codelco, expects prices to average about $2.6 to $2.8 per pound over the medium-term.

The discount of cash LME copper over the three-month contract stood at $24.25 a tonne, implying weak near-term demand.

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Ref.Soyaoil Prices Gained On Increased Buying Tracking Firm Trend

Ref.Soya oil trading range for the day is 857-889.

Ref.Soyaoil prices gained on increased buying tracking firm trend in soybean prices.

India’s oil year 2018-19 edible oil imports rose 2.73 percent y-o-y to 14.91 MMT from 14.52 MMT in oil year 2017-18.

Export of soymeal from India during April-October of the current fiscal slipped 31% to 3.89 lakh due to higher prices of bean

At the Indore spot market in Madhya Pradesh, soyoil was steady at 861.65 Rupees per 10 kgs.

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CPO Trading Range For The Day Is 715.9-743.7

CPO trading range for the day is 715.9-743.7.

Crude palm oil prices rallied tracking firmness in Malaysian palm oil prices on fears that supply is set to fall sharply.

According to reports, Malaysian palm oil production would show a 10% monthly fall in November.

According to Indonesia trade ministry, Indonesia kept Dec crude palm oil export duty unchanged at zero.

Crude palm oil prices in the spot market gained by 5.50 rupees and settled at 731.40 rupees.

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

Rmseed trading range for the day is 4449-4511.

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

Mustard seed crushing by mills in India jumped 22.2% on year to 550,000 tn in November

Currently, high moisture level in the soil due to prolonged rains in most part of India is likely to delay sowing of Mustard.

In Alwar spot market in Rajasthan the prices gained 64.35 Rupees to end at 4694.5 Rupees per 100 kg.

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Soyabean Trading Range For The Day Is 4100-4384

Soyabean trading range for the day is 4100-4384.

Soyabean dropped tracking weakness in overseas prices as concerns over Chinese demand and expectations of a record Brazilian crop.

India may get lower Soybean crop of this season and expect total 12.15 million tonnes lower by 12%

Unseasonal rainfall is damaging the Kharif soybean crops mainly in Maharashtra.

At the Indore spot market in top producer MP, soybean gained 47 Rupees to 4252 Rupees per 100 kgs.

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Copper Dec Daily Chart Has Formed "Falling Channel" Pattern

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

The market is expected to continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at 443. 

The upside rally could be testing all the way through 447-450 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 434 level. Key support holds at 434.

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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 134. The upside rally could be testing all the way through 136-137 levels in the upcoming sessions. 

Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 131 level. Key support holds at 131.

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Silver Trading Range For The Day Is 43174-44290

Silver trading range for the day is 43174-44290.

Silver gained as investors sought safety from the threat of new U.S. tariffs on Chinese goods due to come into effect on Dec. 15.

U.S. consumer prices increased solidly in November, which together with labor market strength could support the Federal Reserve's intention not to cut interest rates.

Growth of U.S. labor costs was not as robust as initially thought in the third quarter, suggesting inflation could remain tame in the near term.

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Gold On MCX Settled Up 0.34% At 37699 With Market Activity Largely

Gold trading range for the day is 37434-37870.

Gold remained supported with market activity largely subdued ahead of the U.S. central bank's economic policy statement and a fast-approaching tariffs deadline.

After three consecutive interest rate cuts, the Federal Reserve announced its widely expected decision to leave rates unchanged.

U.S. consumers' inflation expectations rose slightly in November, bringing the outlook for near and medium-term inflation up from a five-year low.

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Lead Dec Daily Chart Has Formed “Right Angled Ascending Broadening Wedge” Pattern

Lead Dec Daily chart has formed “Right angled 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 bullish momentum based on the current price action, testing all the way up to 156 levels in the upcoming sessions. 

Alternatively, if the market breaks below a key support holding at 152.50 then it might turn bearish once again. The downside rally could test up to 150 level. Key resistance holds at 156.

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Natural Gas Daily Chart Has Formed “Descending Broadening Wedge” Pattern

Natural gas daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up in sideways trend inside the channel. 

The market is expected to continue on bullish momentum based on the price action, once the same breaks above a key resistance holding at 162. The upside rally could be testing all the way through 167-171 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 156 level. Key support holds at 156.

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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 bearish momentum based on the current price action, once the same breaks below a key support holding at 132. 

The downside rally could be testing all the way through 130-128 levels in the upcoming sessions. 

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Nickel Dec Daily Chart Has Formed "Descending Broadening Wedge" Pattern

Nickel Dec daily Chart has formed "Descending broadening wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. 

The market is expected to continue on the bearish term based on the current price action, once the same breaks below a key support holding at 974. The downside rally could be testing all the way through 960-948 level 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 1015 level. Key resistance holds at 1015.

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Zinc Trading Range For The Day Is 180.5-186.1

Zinc trading range for the day is 180.5-186.1.

Zinc dropped as the markets shuddered after US President Donald Trump warned the trade war with China could go beyond 2020 election.

Activity in China’s services sector, which accounts for more than half of China’s economy, accelerated to a seven-month high in November

US services sector activity slowed more than expected in November amid lingering concerns about trade tensions and worker shortages

Warehouse stock for Zinc at LME was at 58675mt that is down by -125mt.

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Copper Prices Dipped Amid Scepticism Over The Chances For A Near Term Preliminary

Copper trading range for the day is 428.3-433.5.

Copper prices dipped amid scepticism over the chances for a near-term preliminary trade deal between Washington and Beijing

China has issued a seventh batch of import quotas for scrap metal, including 17 quotas for a total of 7,970 tonnes of high-grade copper scrap.

Some cities in Hebei province are required to implement level II anti-smog measures for three days as unfavourable weather may raise the risks of smog from December 7.

Warehouse stock for Copper at LME was at 193800mt that is down by -4625mt.

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Silver Gained As Dollar Edged Down Amid Somewhat Mixed Signals

Silver trading range for the day is 44105-44941.

Silver gained as dollar edged down amid somewhat mixed signals on the U.S.-China trade front contributed.

U.S. services sector activity slowed in November as lingering concerns about trade tensions and worker shortages pushed production to its lowest level in a decade

Data showed manufacturing activity contracted for the fourth straight month in November and a decline in construction spending in October.

German factory orders unexpectedly fell, suggesting Europe’s largest economy is still struggling to overcome a manufacturing slump and fend off recession.

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Gold Trading Range For The Day Is 37806-38376

Gold trading range for the day is 37806-38376.

Gold settled flat as conflicting signals from Washington and Beijing prolonged the uncertainty about a trade deal

Gains in bullion, however, were limited as stocks strengthened after Trump's positive comments on trade.

A further 15% U.S. tariff on about $156 billion worth of Chinese imports is set to take effect on Dec. 15.

Japan’s Prime Minister Shinzo Abe announced stimulus measures to support growth in an economy contending with an export slump and the fallout from a recent sales tax increase.

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Natural Gas Dropped On Forecasts For Less Heating Demand

Natural gas trading range for the day is 164.9-180.7.

Natural gas dropped on forecasts for less heating demand through the middle of December than previously expected.

Meteorologists now forecast the weather will remain at near normal levels before turning colder than usual on Dec. 10

Utilities likely pulled just 22 billion cubic feet of gas from storage during the week ended Nov. 29.

Gas production in the Lower 48 states slipped to a two-week low of 94.8 bcfd on Tuesday from 95.4 bcfd on Monday, according to Refinitiv.

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Crude Oil Trading Range For The Day Is 3986-4294

Crude oil trading range for the day is 3986-4294.

Crude oil gained after a report from the Energy Information Administration showed a steeper than expected weekly drop in crude oil inventories.

The report said crude oil inventories tumbled by 4.9 million barrels

Iraqi Oil Minister Thamer Ghadhban said OPEC members were leaning towards approving deeper oil output cuts at a meeting and no member was talking about increasing production.

Crude oil inventories in the U.S. fell by more than expected last week, according to the industry group American Petroleum Institute.

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Silver Prices Moved Sharply Higher Benefiting From Its Appeal As A Safe Haven Amid

Silver trading range for the day is 44236-46002.

Silver prices moved sharply higher benefiting from its appeal as a safe haven amid renewed trade concerns.

President Donald Trump suggested he might prefer to wait until after the 2020 elections to strike a trade deal with China.

Chinese factory activity expanded at the quickest pace in almost three years in November, a private business survey showed

The Perth Mint's silver sales dropped from a multi-year peak. Silver coin sales were 1,027,695 ounces in November.

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Gold Gained After U.S. President Donald Trump Ratcheted Up Trade

Gold trading range for the day is 37614-38748.

Gold gained after U.S. President Donald Trump ratcheted up trade tensions with China, Brazil and Argentina, pushing investors to safe havens.

Trump said U.S. legislation backing protesters in Hong Kong did not make trade negotiations with China easier, but added he believes Beijing still wants a deal.

Speculators also cut their bullish positions in COMEX gold in the week to Nov. 26, data showed.

Holdings of the world's largest gold-backed ETF, SPDR Gold Trust, fell 0.7% to 889.16 tonnes, their lowest since Sept. 19.

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Crude Prices Ended Higher By 1.43 Percent To Close At $56.0 Per Barrel

On Monday, WTI Crude prices ended higher by 1.43 percent to close at $56.0 per barrel. Expectation of deepening in the production cuts by OPEC+ in their upcoming meeting supported oil prices

Rising uncertainties around the U.S.-China trade spat continue to weigh on the demand prospects for Crude and pressurize the prices. Weak U.S. economic data coupled U.S. & China failing to strike a preliminary agreement limited the gains for Crude.

The ministers of Organization of the Petroleum Exporting Countries will meet in Vienna on Thursday i.e. 5th December’19 and the OPEC along with their allies will meet on Friday i.e. 6th December’19.

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Gold Prices Ended Marginally Lower By 0.11 Percent

On Monday, spot gold prices ended marginally lower by 0.11 percent to close at $1462.3 per ounce. Robust factory data from China amid increasing demand for the U.S. Dollar weighed on the yellow metal prices.

The downfall in Gold prices was limited as U. S. factory activity contracted for a fourth straight month in November’19 after new orders dipped to their lowest level since 2012. 

Moreover, even the construction spend in U.S. dipped in October’19 which further raised concerns about weakness in the world’s biggest economy which in turn supported the yellow metal prices.

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Natural Gas Dropped On Forecasts Of A Warmer Than Usual Weather

Natural gas trading range for the day is 159-182.6.

Natural gas dropped on forecasts of a warmer-than-usual weather and record production.

U.S. utilities pulled a much smaller-than-normal 28 billion cubic feet of gas from storage last week

The drawdown reduced total stockpiles to 3.610 trillion cubic feet, about 0.9% below the five-year average

U.S. dry natural gas production will rise to an all-time high of 92.13 billion cubic feet per day in 2019 from a record high of 83.80 bcfd last year.

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Crude Oil Trading Range For The Day Is 3817-4261

Crude oil trading range for the day is 3817-4261.

Crude oil dropped after update U.S. crude oil production in September rose to a new record of 12.46 million barrels per day from 12.397 million bpd in August. Monday, December 2, 2019

The International Energy Agency raised its estimate of non-OPEC oil output growth next year to 2.3 million b/d while dropping its estimate of the "call" on OPEC crude

Russia's oil output in November stood at 11.24 million barrels per day.

Russian oil companies proposed not to change their output quotas that are part of the deal that runs until end-March.

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