Dollar rises to one-month high

The dollar rose to a one-month high against a basket of currencies on concerns about the global banking sector and weaker equity markets. The dollar index is currently above 76. The index rose as high as high as 76.81, its highest since early October.

Crude rose nearly 2% to trade above $ 79 per barrel after positive US economic data. Base metals were weak ahead of Fed announcement and strong US dollar.

By Manisha Gupta, Commodities Editor of CNBC-TV18

US Dollar ended at 1-month high versus Euro on Tuesday. Dollar looks defensive ahead of Fed interest rate announcement. Fed may repeat pledge to keep interest rates at Zero for extended period.
 
US factory orders rose 0.9% in September, a fifth gain in 6 months.
 
Reuters CRB Index was up 1%.
 
Gold

Gold made all-time high at $1088.5 per ounce. Its previous high was at $1072 on October 14. It settled up 3% at $1084.5/ounce on Tuesday.

India buys gold

IMF sold 200 tonnes of gold to India central bank. Sale is part of total of 403.3 tonnes to be sold by IMF. India paid an average of $1,045 an ounce for the gold. Indian gold prices were also at record high.

Domestic and MCX gold made all-time high above Rs 16240/10 grams.
 
Crude

Crude NYMEX December futures gained 2% at $79.60 a barrel on Tuesday. API reported decline in US weekly inventories.

Base metals

Base metals were weak ahead of Fed announcement and strong USD.

BHP Chile strike continued, which supported copper. Copper was down 1.5% to $6460 a tonne.

Aluminium closed above $1910/tonne after making low at $ 1883/tonne.

Chinese producers have been ramping up output due to recent higher prices, which up more than 20% this year.

Aluminium stocks were near record highs above 4.5 million tonnes; demand uncertainty will also keep a lid on aluminium prices. Strong presence of investors on the long side could well support prices.

Primary aluminium for delivery in Q1 of next year is being offered at higher premiums than this quarter.