Author: Mcx Live Updates

Crude oil futures were steady Rs 2,987 per barrel on September 29 as participants increased their short position as seen by the open interest. Crude oil prices fell on concerns of rising coronavirus cases may force countries to reimpose restriction once again thus impacting demand. Tapan Patel- Senior Analyst (Commodities), HDFC Securities said, “Crude oil prices pared Read More

Crude oil futures rose to Rs 2,983 per barrel on September 28 as participants increased their short position as seen by the open interest. Crude oil prices pared early losses and traded green in the afternoon. The number of rigs drilling crude oil in the US jumped by 17 to 217 last week. Tapan Patel- Read More

Crude oil futures rose to Rs 2,982 per barrel on September 25 as participants increased their long positions. Black gold along with other commodities have stabilised as a sell-off in equity markets came to a halt while the dollar’s ascent stalled. Britain, Germany and France imposed new restrictions to stem the coronavirus spread, which could Read More

Crude oil futures traded steady at Rs 2,955 per barrel on September 24 as participants increased their long positions. Prices pared morning session losses and traded in the green in the afternoon session. The commodity has been stuck in the $38-41 per barrel range for the last few sessions and unless it breaks out either Read More

Crude oil futures rose to Rs 2,940 per barrel on September 23 as participants increased their long position as seen by the open interest. Crude oil prices gained erasing early losses after API reported buildup in US weekly inventory. The American Petroleum Insitute (API) reported that US crude inventories jumped by 0.69 million barrels for Read More

COMEX gold trades moderately higher near USD 1910/oz after a sharp 2.6 percent decline on September 21 when it hit a low of USD 1885.4/oz, the lowest level since August 12. Gold is considered a safe-haven asset which benefits in time of economic and political uncertainty. Risk sentiment weakened yesterday amid concerns that Europe may reinstate lockdown to Read More

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 eased in India on September 17, tracking a muted trend in the international spot prices after the US dollar firmed. The Federal Reserve’s pledge to hold interest rates at near-zero until at least 2023 limited the losses for the metal. On the Multi-Commodity Exchange (MCX), October gold contracts were trading lower by 0.86 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

Crude oil futures edged lower to Rs 2,741 per barrel on September 11 as participants increased their short positions. Prices fell after US government data showed a build-up in inventories indicating that markets are not going to see draws that investors are so bullish about. The US Energy Information Administration (EIA) reported that US crude Read More

Crude oil futures edged lower to Rs 2,746 per barrel on September 10 as participants increased their short positions. Prices fell after data by the American Petroleum Institute (API) showed higher-than-expected rise in inventory to 3 million barrels for the week-ended September 4 and after US Energy Information Administration (EIA) cut its 2020 world oil 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

India Gold October Futures rose marginally higher on September 3 after falling more than 1 percent in the previous session, tracking the positive trend seen in the international spot prices. International Gold prices edged higher following a steep fall in the previous session, as a weaker US dollar and worries over the global economic outlook 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

Gold prices rose on Monday to their highest level in nearly two weeks, as demand was boosted by a weaker dollar and the U.S. Federal Reserve’s new policy framework suggested that interest rates would remain low for some time. FUNDAMENTALS – Spot gold was up 0.4% at $1,971.68 per ounce by 0043 GMT, after hitting Read More

Crude oil futures fell to Rs 3,206 per barrel on August 27 as participants increased their short positions. Prices slipped as the Indian rupee strengthened against the dollar. The US Energy Information Administration (EIA) reported that US crude declined by 4.68 million barrels for the week ended August 21, the fifth week of drawdown. Hurricane Read More

The price of Brent crude oil edged higher on Wednesday, lifted by U.S. producers shutting most of their offshore output in the Gulf of Mexico ahead of Hurricane Laura and optimism over China-U.S. trade talks. But gains were capped amid renewed concern over the coronavirus pandemic, which has squeezed fuel demand, after reports from Europe Read More

Crude oil prices were mixed on Tuesday as traders weighed massive production cuts in the U.S. Gulf Coast from Tropical Storms Marco and Laura against rising coronavirus cases in Asia and Europe. Brent crude oil futures added 5 cents, or 0.1%, to $45.18 a barrel by 0055 GMT, while U.S. West Texas Intermediate crude was Read More