Author: Updates McxIndia

Oil prices drifted lower on Friday, pausing after three days of gains, as producers prepared to resume operations in the Gulf of Mexico and data showed Saudi Arabian exports rose from record lows. Brent crude was down 6 cents at $43.24 a barrel by 0112 GMT, while U.S. oil futures dropped 6 cents to $40.91 Read More

Gold prices held steady on Wednesday as investors awaited the outcome of the U.S. Federal Reserve’s policy meeting, hoping for details of the central bank’s plans to balance interest rates against its inflation target. Spot gold was up 0.1% to $1,957.45 per ounce by 0255 GMT. U.S. gold futures were steady at $1,966.20. “People are Read More

Natural gas futures dropped to Rs 175.70 per mmBtu on September 9 as participants increased their short position as seen by the open interest. Natural gas had declined 7.3 percent yesterday on NYMEX tracking sharp sell-off in crude price. Natural gas price trade weaker as mixed weather forecast dented demand outlook. In the futures market, natural Read More

Crude palm oil futures edged higher to Rs 767 per 10 kg on September 8 as participants increased their long position as seen by the open interest. Malaysian palm oil futures gained 2.35 percent to trade at 2,870 Ringgits on Bursa Malaysia Bhd. Malaysian palm oil jumped above 2,900 Ringgits last week on reports of Read More

Crude oil futures jumped to Rs 3,054 per barrel on September 4 as participants increased their long positions due to upcoming refinery maintenance and end of summer driving season which put pressure on prices. Tapan Patel- Senior Analyst (Commodities), HDFC Securities said, “Crude oil prices have kept to their lower trading range on demand concerns Read More

Nickel prices jumped to Rs 1,150 per kg on September 1 as participants increased their long position as seen by the open interest. The base metal benefitted from the persistent weakness in the US dollar and positive economic data from China. Chinese manufacturing activities in August, expanded at the fastest pace in 10 years, improved Read More

COMEX gold trades moderately lower near $2,005/oz after adding 0.7 percent gain yesterday which marked its second consecutive session in the green. Gold fell as low as $1,985.2/oz in intraday trade yesterday in reaction to upbeat US housing data and some US equity indices hitting record high level but recovered soon to end above the Read More

Copper prices on Tuesday rose by 0.3 percent to Rs 516.60 per kg in futures trade on pick-up in spot demand. On the Multi Commodity Exchange, copper contracts for August delivery traded higher by Rs 1.55, or 0.3 percent, at Rs 516.60 per kg in a business turnover of 4,355 lots. Analysts attributed the rise Read More