Commodity noon session

Bullions• Gold declined for the first time in four days after the dollar advanced,

curbing demand for the metal as an alternative investment.• Gold is expected to trade in a tight range of 1300-1360$ range as FOMC

meet next week will act as a supportive factor for the prices. • The Dollar Index, a gauge of the U.S. currency against a basket of six

counterparts, advanced as much as 0.2 percent after climbing 0.8 percent yesterday, before reports likely to show the U.S. recovery is gathering pace.

• US dollar appreciated as confidence among U.S. consumers grew in October from a seven-month low according to an index released by the New York- based Conference Board yesterday.

• U.S. gross domestic product is expected to rise at a 2 percent annual pace in the third quarter, up from a 1.7 percent rate in the previous three months

Crude oil.

• Crude Oil declined after a 4 days rally as an appreciating US dollar reduced investor demand for the commodity and traders bet stockpiles in the U.S. are rising.

• Analysts estimates points to a crude oil inventory levels coming in excess. An Energy Department report today may show crude inventories increased by 1 million barrels last week and gasoline supplies by 6,25,000 barrels.

• The industry funded American Petroleum Institute said yesterday stockpiles surged 6.43 million barrels.

• US dollar appreciating after the U.S. Conference Board said yesterday consumer confidence climbed in October from a seven- month low, is also putting pressure on oil prices. The greenback rose 0.3 percent versus the euro and the yen.

• U.S. gasoline demand decreased 1.7 percent last week, the largest week-to-week slide since Sept. 10, MasterCard said in its SpendingPulse report. Motorists bought an average 9.1 million barrels of the fuel a day in the week ended Oct. 22.

• So concerns regarding the demand not picking up in US will be putting pressure on the prices.

Base metals.

• Copper declined for a second day as the dollar strengthened and on speculation that users in China, the world’s largest consumer is staying away from the market owing to high prices.

• Three-month copper reversed an early advance to drop as much as 0.8 percent on the London Metal Exchange, and futures in Shanghai lost as much as 1.4 percent after earlier gaining 1.1 percent.

• Assumption that China have enough domestic supplies to meet the current demand requirement is also putting pressure on the prices.

• Stockpiles of the metal used in pipes and wires monitored by the Shanghai Futures Exchange gained for a third week to a two-month high of 106,275 tons last week.

• Zinc snapped a five-day winning streak, dropping by the most in three weeks, as investors deemed the recent rally to a nine-month high didn’t justify the fundamentals. Lead also declined from a nine-month high.