Today's Commodity Updates

Gold trading range for the day is 29937-30257.Gold settled flat as ongoing speculation that central banks around the world would soon announce fresh stimulus measures. There are expectations that China will cut its banks RRR following the release of downbeat data last week. Gold traders are also looking ahead to the Fed’s next policy meeting on September 12 and 13.

Silver trading range for the day is 53060-53852.Silver ended lower getting pressure from base metals and crude prices. Market participants will be watching US data on retail sales, inflation and housing during the week Japans GDP growth for 2Q dropped to 1.4%, missing market expectations of 2.7% also weighed on prices.

Crude trading range for the day is 5076-5250.Crude ended with gains on concerns about North Sea supply and Middle East tensions. Sluggish economic indicators fueled sentiment that central banks around world will take steps to spur recovery U.S. crude oil stockpiles were forecast to have declined last week for a third straight week, on lower imports.

Today's Commodity Updates

Gold trading range for the day is 30002-30060.Gold rose after soft Chinese data and downward revisions to Euro growth forecasts fueled that central banks will intervene. Bullion broke ranks with declining equities after latest Chinese data showed July exports rose just 1%SPDR gold trust holdings gained by 3.21 tonnes to 1258.15 tonnes.

Silver trading range for the day is 53453-53543.Silver settled flat and support can be seen on sentiment that central banks will stimulate their economies . Fed officials have said they cannot rule out rolling out a third round of asset purchases from banks. China reported last week that its trade surplus narrowed unexpectedly in July, dropping to $25.1bn.

Crude trading range for the day is 5092-5174.Crude oil ended with gains on Saturday after prices dropped pressured by demand worries on downbeat Chinese economic data. IEA upped its forecast for global oil demand for this year, forecasting demand to grow by 900,000bpdCuts to European growth estimates for next year sent oil falling as well.

Today's Commodity Updates

Gold trading range for the day is 29829-30049.Gold gains as slowing growth in Chinas factory output mildly boosted investor hopes for more monetary stimulus. Chinas factory activity slowed unexpectedly in July to its weakest in more than three years. Physical demand from India looked likely to remain sluggish ahead of the festival season which begins this month.

Silver trading range for the day is 53195-53767.Silver settled firm as speculation over whether world central banks will implement further stimulus measures supported Chinas factory activity slowed unexpectedly in July to its weakest in more than 3years, leaving room for more stimulus Bullion investors appeared to be on sidelines waiting for possible hints from Fed and other central bankers meeting.

Crude trading range for the day is 5124-5218.Crude oil gains edging higher alongside equities after weekly jobless claims unexpectedly dropped. Top oil exporter Saudi Arabia pumped 9.8 mln barrels bpd of crude oil in July, cutting output by 300,000 bpd from June OPEC may have to reduce its forecast for growth in world oil demand in 2013 by 20 percent.

Commodity Updates

Gold trading range for the day is 29730-30002.Gold inched up but remained in tight range due to investor uncertainty about whether central banks would act to stimulate economies. Rosengren said the Fed should launch another round of QE of whatever size and duration to get economy on feet. Fitch put Germanys AAA credit rating outlook stable, which was owing to strong upward momentum of Germanys economy. Gold is trading below 50DMA, which is at 30013, now intraday gold is holding support at 29730 and resistance at 30002.

Silver trading range for the day is 52839-53905.Silver settled flat on hopes that central banks in Europe and the US will launch more stimulus measures. Also pressure mounted after German industrial orders fell more than expected in June Euro group President Jean-Claude Junker discussed a Greek exit from the euro zone again. Silver is trading below 50DMA, which is at 53781, with intraday support seen at 52839 and resistance at 53905.

Crude trading range for the day is 5081-5269.Crude oil dropped from highs despite a bullish inventory report, as traders took profits. Prices seen support from expected drops in North Sea output in September and falling U.S. crude oil inventories. EIA said U.S. crude oil inventories decreased by 3.7 million barrels in the week ending August 3Crude is holding with a support at 5081 and resistance will be likely at 5269.

Shanghai Futures Exchange Warehouse Stocks Daily :

 COPPER : DOWN 300, ALUMINIUM : DOWN 50, ZINC : DOWN 150, RUBBER : UP 400

Today's Commodity Updates

Gold trading range for the day is 29598-30082.Gold ended lower as investors were uncertain about whether central banks would act to stimulate sputtering economies. Building expectations that ECB will buy debt from distressed countries like Spain and Greece sparked a risk. S&P revised Greece’s outlook to negative, saying debt-ridden euro zone country could need more help.

Silver trading range for the day is 53139-53611.Silver ended with slight gains as investors were uncertain about whether central banks would act to stimulate sputtering economies. Building expectations that ECB will buy debt from distressed countries like Spain and Greece sparked a risk. Overall the metal traded in a tight range of less than $1 an ounce, swinging between slight gains and losses. Silver is trading below 50DMA, which is at 53779, with intraday support seen at 53139 and resistance at 53611.

Crude trading range for the day is 5046-5246.Crude oil jumped on falling North Sea output, support for more bond buying by Fed and Middle East tensions. EIA raised its forecast for global oil use by 190,000 barrels a day from last month’s estimate. Today crude oil inventories: EXP: -0.6M PREV: -6.5M. Actual is at 8.00PMCrude is holding with a support at 5046 and resistance will be likely at 5246.

Today's Commodity Updates

Gold trading range for the day is 29796-30070.Gold ended with gains on gains in U.S. equities and crude oil. Muted moves in U.S. dollar give gold little direction after last week’s swings. Inflows into Gold ETF also picked up after a soft July, with data from the largest showing its holdings up 3tns so far this month. Gold is trading below 50DMA, which is at 30020, now intraday gold is holding support at 29796 and resistance at 30070.

Silver trading range for the day is 53019-53607.Silver settled flat as ongoing sentiment that central banks around the world will likely stimulate their economies The sentiment in Europe’s government debt market improved, with two year Spanish yields falling Holdings at i-shares silver trust rose by 163.42 tonnes to 9742.43 tonnes. Silver is trading below 50DMA, which is at 53833, with intraday support seen at 53019 and resistance at 53607.

Crude trading range for the day is 5016-5130.Crude oil ended with gains as investors became commodity bullish on strong equity market performance Tropical Storm Ernesto gained strength in the Caribbean Sea east of Nicaragua and will probably become a hurricane today. None of tropical storm developments in Atlantic Ocean are currently forecast to threaten oil supplies. Crude is holding with a support at 5016 and resistance will be likely at 5130.

Copper trading range for the day is 410.7-416.7.Copper gains after encouraging comments from top

Commodity Morning Updates for Today

Gold trading range for the day is 30094-30220.Gold gained marginally on expectations that the Fed & ECB will move to stimulate their respective economies. Indian Gold imports fall 35% in July on near-record prices. European Commissions index of economic sentiment across Eurozone dropped to 87.9 in July. Gold is trading above 50DMA, which is at 30041, now intraday gold is holding support at 30094 and resistance at 30220.

Silver trading range for the day is 52842-54392.Silver yesterday ended higher as investor taken the position ahead of FED & ECB meet. Spot silver breaks above $28oz to 17-session high ahead of FOMC meeting. Investors have interpreted signs of slowing US economic growth as increasing likelihood that Fed will implement more stimulus Silver is trading below 50DMA, which is at 54187, with intraday support seen at 52842 and resistance at 54392.

Crude trading range for the day is 4935-5051.Crude trader caution ahead of stimulus measures coming from central bank meetings in the US & Europe. Oil prices continue to be supported by worries about supply from sanctions-hit Iran. Meanwhile sentiments that US crude stockpiles may have grown this week also pushed oil down. Crude is holding with a support at 4935 and resistance will be likely at 5051.

Copper trading range for the day is 417.1-424.5.Copper dropped as investors weighed the likelihood of further stimulus measures from ECB and U.S.IMFs pessimistic comments over the European debt crisis will continue to weigh markets down. Japans June exports of copper cathode to China, nearly doubled from the same month a year ago. Warehouse stock for Copper at LME was at 249075mt that is down by -1225mt.