Silver Trading Range For The Day Is 46112-46984

Silver trading range for the day is 46112-46984.

Silver prices ended with losses as stocks traded higher ahead of the U.S.-China phase one trade deal signing.

Beijing will increase imports from the U.S. in exchange for the suspension of the December tariffs on Chinese imports to the U.S.

The report said non-farm payroll employment climbed by 145,000 jobs in December after spiking by a revised 256,000 in November.

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Gold Trading Range For The Day Is 39275-40561

Gold trading range for the day is 39275-40561.

Gold rose as investors flocked to the safe-haven metal after a senior Iranian military official was killed in an air strike authorised by the United States.

Tensions flared in the Middle East after Iranian Major-General Qassem Soleimani, and top Iraqi militia commander Abu Mahdi al-Muhandis were killed in the air strike

Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, on Thursday rose 0.2% to their highest since Nov. 29.

India's gold imports in 2019 fell 12% from a year ago to the lowest level in three years as retail buying faltered in the second half.

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Nickel Settled Flat Amid Positive Factory Data In Top Metals Consumer China

Nickel trading range for the day is 1021.1-1039.1.

Nickel settled flat amid positive factory data in top metals consumer China, as investors looked to collect profits on the last day of the year.

Inventories of refined nickel in the Shanghai bonded areas edged higher this week, showed data, lifted by arrivals under long-term contracts.

China's monthly nickel ore imports from top miner Indonesia rose to a near 6-year high in November although its overall intake fell.

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Zinc Dropped As Investors Locked In Gains Made Since The United States

Zinc trading range for the day is 177.5-181.1.

Zinc dropped as investors locked in gains made since the United States and China reached a preliminary trade deal earlier this month.

Treatment charges for zinc concentrate in China rose to $310 a tonne this month, the highest since June 2008, incentivising smelters to raise output.

The global zinc market moved to a surplus of 7,300 tonnes in October from a revised deficit of 21,100 tonnes in September.

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Copper Trading Range For The Day Is 438.7-445.5

Copper trading range for the day is 438.7-445.5.

Copper dropped as Chinese top copper smelters failed to reach an agreement for production cuts as expected.

But the decline was capped as promising US industrial data and US-China trade hopes removed some worries about the global economy’s health.

Chinese Vice Premier Liu He will visit Washington this week to sign a Phase 1 trade deal with the United States

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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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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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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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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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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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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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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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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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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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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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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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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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