Commodity Opening Bell 

Bullion - Opens on mixed Note Gold -29120-29150 Silver -38820-38860 

Energy - Opens on positive Note Crude Oil -3533-3536 Natural Gas -188.50-188.70 

Base Metals - Opens on positive Note Copper -448.50-450 Nickel -815-820 Lead -158.30-158.50 Zinc - 213.90-214.40 Aluminium -140-140.25

COMMODITY MARKET NEWS

MCX Gold has shown negative strength in last trading session and slipped from 38.2 retracement level, which suggest down trend will continue further. In addition, on the daily chart RSI (14) has entered into bearish zone, , which gives more weightage to prices move down. Based on the above technical studies, we expect further downward movement in MCX Gold with a potential price of 29000.

MCX Silver has given the breakout of rising trendline & traded below the psychological level of Rs.39000. Moreover, COMEX Silver has failed to sustain above $17 levels. In addition, RSI (14) has slipped below the support line. Furthermore, Price has traded below 21EMA in daily chart, which suggest near term down trend in the counter. Based on the above studies we expect bearish move in MCX Silver and on the lower end price may move towards 38300

MCX Copper has given breakout of “Double Top” pattern & traded below the crucial level of Rs. 452. Moreover, Price has sustained below its 21 EMA, which indicate short term down trend. I

MCX Crude Oil has given the breakout of the trendline & traded above the psychological level of Rs. 3500. Moreover, Price has traded above its 21 SMA, which intimates short term bullishness. In addition, NYMEX Crude Oil has given the breakout of falling trendline & sustained above the previous range on daily chart. Based on the above structure, we expect Crude oil price may move up towards 3570. M

Commodity Opening Bell

Bullion - Opens on negative Note Gold -29325-29330 Silver -39230.-39290 

Energy - Opens on mixed Note Crude Oil -3506-3510 Natural Gas -194.50-194.70 

Base Metals - Opens on mixed Note Copper -444.50-445 Nickel -750.80-751.50 Lead -156.20-156.30 Zinc - 212.75-212.95 Aluminium -138.80-138.85

COMMODITY MARKET NEWS

Precious metals are trading flat on COMEX today. We expect prices to trade range bound for the day as the dollar eased after reports that two former aides of U.S. President Donald Trump were charged by federal authorities probing Russian interference in the 2016 election.

Industrial metals are trading MIX on International bourses today. We expect prices to trade range bound for the day, on the back of a stronger U.S. dollar.

Crude oil is trading lower on NYMEX today. We expect prices to trade range bound for the day, supported by a tightening market due to ongoing OPECled efforts to cut supplies, although the prospect of rising U.S. shale output dragged.

Brent crude oil prices closed on Monday at its highest level since July 2015 and U.S. crude closed at a peak not seen since February on expectations OPEC-led production cuts would be extended beyond March, although such gains are likely to spur more U.S. production

Commodity Opening Bell 

Bullion - Opens on mixed Note Gold -29280-29290 Silver -39150-39140

Energy - Opens on mixed Note Crude Oil -3506-3510 Natural Gas -195.50-196 

Base Metals - Opens on mixed Note Copper -444.50-445 Nickel -747-748 Lead -157.20-157.30 Zinc - 211.20-211.30 Aluminium -140.10-140.05

COMMODITY MARKET NEWS

Precious metals are trading higher on COMEX today. We expect prices to trade range bound for the day as investors remained cautious ahead of the naming of the next U.S. Federal Reserve chair and ahead of a two-day Federal Open Market Committee (FOMC) meeting, both this week.

Industrial metals are trading higher on International bourses today. We expect prices to trade range bound for the day, not far from a two-week low hit in the previous session on persistent headwinds from a stronger dollar.

Crude oil is trading mix on NYMEX today. We expect prices to trade range bound for the day, with Brent remaining above $60 per barrel supported by expectations that an OPEC-led production cut due to expire next March would be extended.

Crude oil prices jumped about 2 percent on Friday, with global benchmark Brent crude rising above $60 per barrel, on support among the world's top producers for extending a deal to rein in output and as the dollar retreated from three-month peaks.

Commodity Opening Bell 

Bullion - Opens on negative Note Gold -29250-29230 Silver -39250-39260 

Energy - Opens on mixed Note Crude Oil -3427-3430 Natural Gas -198-198.50 

Base Metals - Opens on negative Note Copper -453.20-453.50 Nickel -751-755 Lead -160-159.75 Zinc - 211-211.50 Aluminium -141.10-141.25

COMMODITY MARKET NEWS REPORT

Precious Metals 

Precious metals are likely to open lower as the dollar surged amid progress on the tax reform front. The US House passed a budget resolution yesterday which paved the way for introducing tax reform. Janet Yellen is probably ruled out as the next Fed Chair which increased chances of John Taylor or Jerome Powell to be the next Fed Chairman. The dollar also found support as the ECB announced a dovish taper in its meeting. The ECB will halve its bond purchases to €30 billion a month and will continue its purchases almost till the end of 2018. 

Base Metals 

Metals corrected from highs after LME aluminium surged to its highest in more than five years on expectations of dwindling supply of both aluminium and its raw materials, as China imposes restrictions on industrial output over winter. The seasonal curbs on aluminium production itself will not be as severe as expected. Chinese nickel futures were under pressure in line with steel prices, reversing earlier gains and on track to end the weak sharply lower

Energy 

Crude oil prices are likely to extend gains as tensions persist between Iraq and Kurdistan and as the Saudi Prince backed the continuation of OPEC supply cuts. Iraq rejected the ceasefire proposal from Kurdistan and this is likely to increase the conflict between Kurdish and Iraqi forces for control of key territories. Iraqi and Kurdish crude flows along Kirkuk-Ceyhan pipeline are also being no longer blended. 

COMMODITY OPENING BELL 

Bullion - Opens on negative Note Gold -29450-29460 Silver -39600-39580 

Energy - Opens on mixed Note Crude Oil -3425-3427 Natural Gas -196-196.50 

Base Metals - Opens on negative Note Copper -459-460 Nickel -778-779 Lead -160-160.50 Zinc - 210-210.25 Aluminium -139.80-139.90

COMMODITY MARKET NEWS

Precious Metals 
Precious metals are likely to open flat and the pressure is likely to continue as the dollar remains strong. John Taylor continues to be a front-runner for the next Fed Chair and this has led to a sharp jump in US 10 year yields. Yields climbed five basis points yesterday to 2.42%, the highest since March. The dollar has found broad support after the US Senate approved a legislative vehicle for tax cuts last week which will make it easier to introduce tax reforms.

Base Metals 
Metals traded firm for yet another day with Aluminum and Zinc leading the pack. Zinc prices rose after data showed output in China slipped in September, highlighting worries that winter production cuts are tightening supplies of metals. Zinc production fell 2.7% last month to 537,000 tonnes after numbers last week showed aluminium output dropped 5.6% to 2.6 million tonnes, its lowest since April 2016.

Energy 
Crude oil prices jumped sharply yesterday after Saudi reiterated its commitment to output cuts. Russia meanwhile suggested that the compliance to OPEC cuts has touched 102%. Oil prices have also been supported due to ongoing tensions between Iraq and Kurdistan.

Commodity Opening Bell

Bullion - Opens on positive Note Gold -29550-29560 Silver -39980-40030 

Energy - Opens on mixed Note Crude Oil -3382-3385 Natural Gas -193.70-193.90 

Base Metals - Opens on positive Note Copper -462-463 Nickel -775-775.50 Lead -162-162.30 Zinc - 208-208.25 Aluminium -138-138.30

COMMODITY MARKET NEWS

Precious metals are trading higher on COMEX today. We expect prices to trade higher for the day, recovering from a more than two-week low hit in the previous session, on the back of a slightly weaker dollar.

Industrial metals are trading higher on International bourses today. We expect prices to trade higher for the day, with the weaker U.S. dollar prompting investors to buy into copper contracts on the London Metal Exchange (LME).

Crude oil is trading higher on NYMEX today. We expect prices to trade higher for the day, getting support from a decline in oil exports from OPEC's second-biggest producer Iraq and a projected extended fall in U.S. commercial oil stocks.

Oil exports from southern Iraq have fallen by 110,000 barrels per day this month, according to shipping data and an industry source, adding to the drop in flows from OPEC's second-largest producer caused by a shortfall from the northern Kirkuk fields.

INVENTORIES POINT TO TIGHTER MARKET

Commodity Opening Bell 

Bullion - Opens on negative Note Gold -29800-29805 Silver -40300-40320 

Energy - Opens on mixed Note Crude Oil -3314-3310 Natural Gas -194.50-195 

Base Metals - Opens on negative Note Copper -447-446.50 Nickel -736-738 Lead -165.65-165.50 Zinc - 214-214.20 Aluminium -138.70-138.80

COMMODITY MARKET NEWS

Precious metals are trading higher on COMEX today. We expect prices to trade range bound for the day as investors wait for key U.S. inflation data for clues on the outlook for potential hikes in U.S. interest rates.

Industrial metals are trading mix on International bourses today. We expect prices to trade range bound for the day, on bets China's Communist Party congress next week will result in stronger demand for imports.

Crude oil is trading higher on NYMEX today. We expect prices to trade higher for the day as both U.S. crude production and inventories declined, pointing towards a tightening market.

Crude oil prices rebounded from earlier losses, but ended lower on the day, after the Energy Department reported a larger-thanexpected decline in U.S. inventories and a falloff in weekly production on Thursday 

Commodity Opening Bell 

Bullion - Opens on positive Note Gold -29800-29850 Silver -40300-40320 

Energy - Opens on negative Note Crude Oil -3326-3330 Natural Gas -189.90-190 

Base Metals - Opens on negative Note Copper -445.80-446 Nickel -725-726 Lead -165.25-165.50 Zinc - 211.50-212 Aluminium -138.20-138.30

COMMODITY MARKET NEWS

Precious Metals 

Precious metals are likely to open higher as the Fed minutes released yesterday were seen as dovish. While December rate hike remains on the table, few Fed members expressed concern about low inflation readings this year. This suggests that the concern over inflation was more compared to what was visible in the FOMC statement in September. The dollar also came under pressure as the euro’s relief rally continued due to reduced concerns about Catalonian independence.

Base Metals 

Base metals traded firm yesterday, where copper inched to its highest in more than a month, underpinned by steady demand and weaker dollar after Federal Reserve showed guarded view towards inflation. Following the release of Fed's last policy meeting, dollar index slipped to two-week low. The global lead market narrowed its output deficit to 4,600 tonnes in August from 31,900 tonnes in July. For January to August, lead market had output deficit of 119,000 tonnes compared with surplus of 49,000 tonnes in same period last year. 

Energy 

Crude is likely to open lower as API data released earlier today showed surprise build of 3.09 million barrels in US crude inventories. Oil prices may however find support at lower levels as OPEC raised its global demand forecast yet again. OPEC expects oil demand growth at 1.45 mbpd this year and 1.38 mbpd next year. Saudi is also set to cut crude oil allocations for November by 560,000 bpd to 7.15 mbpd. US inventory data due later today is likely to show draw down of 1.8 million barrels in oil inventories. Hurricane Nate impacted nearly 90% of Gulf of Mexico oil production initially but impact is now reduced and about 32% of production remains offline. 

Bullion - Opens on positive Note Gold -29690-29700 Silver -39920-39950
Energy - Opens on negative Note Crude Oil -3238-3240 Natural Gas -187.80-188
Base Metals - Opens on negative Note Copper -437.30-437.50 Nickel -698.50-699 Lead -164.10-164.50 Zinc - 213.60-213.80 Aluminium -139.60-139.70


COMMODITY MARKET NEWS

Commodity Opening Bell 

Bullion - Opens on positive Note Gold -29540-29550 Silver -39500-39530 

Energy - Opens on mixed Note Crude Oil -3280-3285 Natural Gas -191-191.20 

Base Metals - Opens on mixed Note Copper -429-429.50 Nickel -705-705.50 Lead -170.20-170.50 Zinc - 215.50-215.70 Aluminium -139.55-139.60

COMMODITY MARKET NEWS

Gold on Tuesday rose above a seven-week low as the U.S. dollar came off its highs. Bullion was pressured earlier by strong U.S. economic data that reinforced expectations of another U.S. interest rate increase this year and pushed the dollar and U.S. bond yields higher.

Silver was up 0.4 percent at $16.60 an ounce but still near its lowest since Aug. 9.

Oil prices dipped on Tuesday as speculators took profits for a second day after big third-quarter gains and on concerns that higher prices might spur increased U.S. shale production. 

We expect Natural gas prices to trade negative on the back of profit booking after up-move in prices.

Zinc hit 10-year highs for a second day on Tuesday, reversing earlier losses, as worries over production outages in China pushed up prices, while London Metal Exchange inventories posted another decline. Prices of the metal used in galvanising steel rose for a fourth straight session as speculators bet environmental inspections would hit output in China. About 60 percent of lead-zinc mines were undergoing month-long shutdowns during environment inspections in Sichuan province. 

Gold slips to near seven-week low as dollar firms

COMMODITY OPENING BELL

Bullion - Opens on negative Note Gold -29360-29400 Silver -39275-39300 

Energy - Opens on negative Note Crude Oil -3320-3330 Natural Gas -193-195 

Base Metals - Opens on mixed Note Copper -426-426.50 Nickel -685-690 Lead -165-165.50 Zinc - 211-212 Aluminium -137.30-137.60

Spot gold was down 0.1 percent at $1,269.50 an ounce by 0101 GMT, after earlier touching its lowest since mid- August at $1,268.60.

* U.S. gold futures for December delivery shed 0.3 percent to $1,272.50 per ounce.

* The dollar on Tuesday gained 0.3 percent against a basket of major currencies and was up 0.2 percent versus the yen <JPY=>.

* A measure of U.S. manufacturing activity surged to a near 13-1/2-year high in September as disruptions to the supply chains caused by Hurricanes Harvey and Irma resulted in factories taking longer to deliver goods and boosted raw material prices.

* The White House on Monday ruled out talks with North Korea except to discuss the fate of Americans held there, again appearing to rebuke Secretary of State Rex Tillerson who said Washington was directly communicating with Pyongyang on its nuclear and missile programmes.