Gold trading range for the day is 28285-28639.Gold settled down amid a stronger dollar and rise in shares, ahead of a flurry of U.S. data due this week.Traders will also keep an eye out on a final reading of U.S. first-quarter economic growth due on Thursday for further evidence on the health of economy.Demand in India improved slightly, with dealers charging a premium of up to $1 an ounce over official domestic prices this week, against a discount of $3 in previous week.
Silver trading range for the day is 37761-38631.Silver dropped as investors looked ahead to comments from key Fed officials and a raft of U.S. economic data in the week ahead.Prices failed to capitalize on the release of weaker than expected data as new orders for key U.S.-made capital goods unexpectedly fell in May.Investors are settling into a cautious mode while they await the U.S. data, including June consumer confidence, pending home sales, and revised first-quarter GDP.
Crudeoil trading range for the day is 2735-2845.Crude oil edged up but investor sentiment remained largely negative amid fears that rising U.S. production would derail OPEC and its allies efforts to rein in the glut in supply.U.S. shale oil output is up around 10 percent since last year, while places like Brazil have also hiked output.The rise in supplies threatens to scupper efforts by the OPEC and its partners to reduce global oil inventories with production cuts.
Naturalgas trading range for the day is 190.5-196.9.Natural gas gained as updated weather forecasting models pointed to increased summer demand in the weeks ahead.Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on summer heating demand.Total natural gas in storage currently stands at 2.770 trillion cubic feet, according to EIA, 10.4% lower than levels at this time a year ago.
Copper trading range for the day is 370.3-376.5.Copper dropped as the dollar firmed, but the metal held near the highs as expectations for upbeat Chinese demand and concern over mine supply lent support.Copper inventories in LME warehouses now down nearly 100,000 tonnes, or 28 percent, from their early May peak.Hedge funds and money managers cut their net long position in copper futures and options by 13,552 contracts to 49,285 in the week to June 20, U.S. CFTC data showed
Zinc trading range for the day is 172.8-177.2.Zinc remained supported and last week ended with its biggest weekly gain since November as inventories continued to fall, raising supply fears.The discount of the cash contract in LME zinc over the three-month contract has narrowed to zero, exchange data showed, suggesting a tighter LME market.Warrant cancellations were focused in LME warehouses in New Orleans, indicating that speculators rather than real demand were responsible.
Nickel trading range for the day is 572.9-590.5.Nickel prices dropped pressured by expectations of more supply from Philippines and Indonesia.Nickel ore inventories at seven major Chinese ports fell in the week ending June 23, data showed.New orders for key U.S.-made capital goods fell unexpectedly in May and shipments also declined
Aluminium trading range for the day is 118.8-120.8.Aluminium settled flat as the market focused on rising supplies and exports from top producer China, lower output costs and higher inventories.Market is expecting that Shandong, Xinjiang and Inner Mongolia may release the list of aluminum smelters ordered to close illegal capacity. European manufacturing PMIs beat expectations and climbed to a more than six-year high, but U.S. factory data disappointed.
Menthaoil trading range for the day is 895.3-929.7.Mentha oil spot at Sambhal closed at 1026.10 per 1kg. Spot prices was down by Rs.-5.80-.Mentha oil prices dropped taking weak cues from physical market. The expectation of good production of mentha during the year has boosted the demand for natural mentha.Stock positions of mentha in MCX accredited warehouses were around 3749 drums which is same against the last day.
Soyabean trading range for the day is 2769-2871.Soyabean on NCDEX settled up 0.82% at 2830 on slow progress of soybean planting and lower arrivals in physical markets. However upside seen limited on weak physical demand and reports of monsoon rains may cover soybean belt in coming weeks.NCDEX accredited warehouses soyabean stocks dropped by 2168 tonnes to 67063 tonnes.At the Indore spot market in top producer MP, soybean gained 6 Rupees to 2945 Rupees per 100 kgs.
Turmeric trading range for the day is 5936-6356.Turmeric prices ended with losses due to profit booking after prices gained due to good physical demand.However, turmeric arrivals have been lower as farmers are bringing less stock in the market due to poor realization.NCDEX accredited warehouses turmeric stocks gained by 80 tonnes to 6649 tonnes.In Nizamabad, a major spot market in AP, the price ended at 5940 Rupees gained 23.35 Rupees.
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