Globally, Oil prices fell in early Asian trade on Thursday as a strong dollar and economic woes outweighed optimism over consumer demand. Both benchmarks WTI & Brent rebounded in the prior two sessions amid volatile trade after reaching nine-month lows this week. Asian share markets rose on Thursday after Britain's central bank launched an emergency bond buying programme to stabilise a furious sell-off in gilts, though trade was skittish and sterling remained under pressure. The Bank of England said it will buy as much as £5 billion ($5.4 billion) a day of long-dated government bonds until Oct. 14. It spent about a billion pounds on Wednesday and 30-year gilt yields fell 105 basis points, the biggest drop ever according to Refinitiv records stretching back to 1992.Global equities staged a partial comeback on Wednesday -- with Wall Street stocks surging around 2%.Gold prices fell slightly on Thursday after recovering sharply from multi-year lows, as markets remained wary of another resurgence in the dollar and Treasury yields. Spot Gold surged nearly 2% on Wednesday, logging their best day in two months. Rupee remain under pressure from strong dollar index and pressure from FPI selling.
With Inputs from Reuters
Commodity Central - chart - 13176948