Bullion Update

(Advisory Bazaar Info Services)

Bullion contracts may trade with a mixed trend today. Gold eased from a three-week high as the dollar index strengthened, while investors await the release of U.S. economic data to gauge the Federal Reserve’s interest rate policy path.

Overall, Gold (December) is expected to move within the range of ₹1,25,500–₹1,27,500, while Silver (December) may trade between ₹1,62,000–₹1,67,000.

A stronger dollar made gold less attractive for holders of other currencies. The publication of key U.S. economic indicators such as payroll and inflation data has been delayed due to the government shutdown that began on October 1.

Last month, the Federal Reserve cut interest rates by 25 basis points, but Chair Jerome Powell maintained a cautious stance on further cuts as essential data remains unavailable.

Holdings in the world’s largest gold-backed ETF, SPDR Gold Trust, rose to 1,046.64 tonnes on Wednesday from 1,046.36 tonnes on Tuesday.

Energy Update

Crude Oil (November) may remain under pressure, with an expected range of ₹5,120–₹5,300.

Oil prices fell for the second consecutive day after the American Petroleum Institute (API) reported a 1.3 million barrel increase in U.S. crude inventories for the week ending November 7, while gasoline and distillate stocks declined.

Prices dropped more than $2 per barrel on Wednesday after OPEC’s monthly report projected that global oil supply would slightly exceed demand in 2026—contrary to earlier estimates of a supply deficit.

Natural Gas (November) may trade with volatility and move in the range of ₹395–₹407.

🔸 Conclusion:

Bullion likely to trade in a limited mixed range, Crude Oil under pressure, and Natural Gas expected to remain volatile.