Ripples Advisory News Update's

Turmeric trading range for the day is 5306-5510. Turmeric prices ended with gains on short covering amid firmness in spot market. Better production prospects, rising stocks and low export and domestic demand continued pressurizing prices. NCDEX accredited warehouses turmeric stocks gained by 20 tonnes to 6657 tonnes. In Nizamabad, a major spot market in AP, the price ended at 5433.95 Rupees dropped -37.5 Rupees.

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Jeera trading range for the day is 17320-18240. Jeera gained on short covering after prices dropped earlier as export and local demand is likely to poor. Jeera exports are expected to touch 120,000 ton in the just ended financial year 2016-17. NCDEX accredited warehouses jeera stocks dropped by 9 tonnes to 1776 tonnes. In Unjha, a key spot market in Gujarat, jeera edged down by -150.3 Rupees to end at 18136.35 Rupees per 100 kg.

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Oil prices fell on Monday as a relentless rise in U.S. drilling undermined an OPEC-led push to tighten supply. Trading activity will be subdued on Monday due to public holidays in China, the United States and Britain. Brent crude futures were trading down 15 cents, or 0.3 percent, at $52.00 per barrel at 0253 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 17 cents, or 0.3 percent, at $49.63 per barrel.

The Organization of the Petroleum Exporting Countries and some non-OPEC producers agreed last week to extend a pledge to cut production by around 1.8 million barrels per day (bpd) until the end of the first quarter of 2018. But the decision did not go as far as many investors had hoped and led to a heavy sell-off. An initial agreement, in place since January, would have expired in June this year.

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Gold held near its highest in four weeks on Monday after rising almost 1 percent in the previous session, buoyed as geopolitical tensions boosted its safe-haven appeal.

FUNDAMENTALS

* Spot gold was flat at $1,266.40 per ounce at 0044 GMT. On Friday, it climbed 0.9 percent to touch its strongest since May 1 at $1,269.50.

* U.S. gold futures slipped 0.1 percent to $1,266.4 an ounce.

* The U.S. economy slowed less than initially thought in the first quarter, but softening business investment and moderate consumer spending are clouding expectations of a sharp acceleration in the second quarter.

* Heavy rains and a cyclone led to an 8 percent, or 6-tonne drop in Australian gold production in the first quarter, a survey released on Sunday showed.

* Gold demand in Asia tapered off this week as buyers took to the sidelines in India to await a new national tax policy and as China entered a seasonal slowdown.

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Gold futures ended higher on Friday, as political uncertainty led investors to favor bullion over assets considered riskier such as stocks. Meanwhile, market participants were looking ahead to US data on durable goods orders, first-quarter economic growth and consumer sentiment due later in the day. Gold futures for June delivery gained $11.70 or 0.9 percent, to settle at $1,268.10 an ounce on the Comex division of the New York Mercantile. While, spot gold was up 1.1 percent at $1,268.69 an ounce.

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Comex copper futures ended lower on Friday, while London copper prices too retreated from three-week high, as momentum sparked by a strike at one of the world's biggest copper mines, eased ahead of the long weekend break in China, the United States and Britain. Copper futures for July delivery fell 1.2 percent to settle at $2.566 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended down 1.1 percent at $5,657.50 a metric ton.

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Physical rubber prices ended flat on Friday. Spot prices for RSS-4 and RSS-5 variety closed unchanged at Rs 128/ kg and Rs 126/ kg respectively. In the futures market, June delivery fell to Rs 128.52 compared to its previous closing of Rs 129.35, while July delivery closed at Rs 132.81 compared to its previous close of Rs 133.60 on the National Multi Commodity Exchange (NMCE).

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Oil prices recovered on Friday from some of the previous day's steep slide after investor disappointment that OPEC curbs did not go far enough, while Wall Street stocks eked out a seventh straight day of gains. U.S. bond yields stayed steady and gold saw big gains as a risk-off sentiment and concerns about political uncertainty took hold, with spot gold rising to its highest since May 1. We have had the political noise coming from Trump and the U.S. administration and there is a certain element of uncertainty in the markets in general, which is supporting gold. Equities are also down. Spot gold added 0.9 percent to $1,267.00 an ounce. U.S. gold futures gained 0.82 percent to $1,266.70 an ounce.

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Oil prices rebounded to rise more than 1 percent on Friday, but Brent crude ended the week nearly 3 percent lower after an OPEC-led decision to extend production curbs did not go as far as many investors had hoped. Trading was light after Thursday's heavy sell-off and ahead of the long weekend break in the United States and Britain. Brent futures settled up 69 cents to $52.15 a barrel, or 1.3 percent, after hitting a session low of $50.71. U.S. West Texas Intermediate (WTI) crude futures settled at $49.80 a barrel, gaining 90 cents or 1.8 percent, after hitting an intra-day low at $48.18.

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