MCX Copper Trend : yesterday settled up by 0.07% at 408 as the market focused on stagnating economic activity and falling demand due to the coronavirus crisis, but production cuts by major miners due to lockdowns provided support.
MCX Nickel Tips – Day Trading Zone 927—942
MCX Nickel Tips – yesterday settled down by 0.55% at 937.3 after Philippines’ top two nickel miners said they expect to gradually resume mining and shipping operations in the country’s main ore-producing region starting on May 1, following shutdowns to contain the virus.
US Federal Reserve Warns Coronavirus “Poses Considerable Risks”
The Federal Reserve said Wednesday the coronavirus pandemic already has caused “tremendous” health and economic hardship, and warned the damage to the US economy will continue along with high unemployment.
Fed Expected to Leave Policy Unchanged – Gold Silver Reports
Fed Expected to Leave Policy Unchanged – Traders are expecting a lot of fresh news from the Fed when it releases its monetary policy statement at 18:00 GMT.
USD/INR – We Expect Indian Rupee to Slip to a Record Low of 80 by Q3
USD/INR : We expect Indian Rupee (INR) to slip to a record low of 80 by Q3. “The rising number of COVID-19 cases in India could lead to another extension in the lockdown beyond 3 May, which will pose downside risks to our GDP growth forecast of 1.6% for FY21.”
Gold Price Edges Higher On Weaker Dollar – Gold Silver Reports
Spot gold price rose 0.1 per cent to $1,709.73 per ounce by 0126 GMT (10:30 am in India). US gold futures climbed 0.2 per cent to $1,726.50 per ounce.
Asian Markets Rise ahead of Fed Meeting – Gold Silver Reports
Fed Chairman Jerome Powell is scheduled to speak Wednesday after the Fed ends its two-day meeting.