Author: Mcx Live Updates

Crude oil yesterday concluded with a slight decline of -0.09% at Rs 5,522, as the market navigated the interplay between geopolitical concerns and apprehensions regarding oversupply. On the supply front, Iraq, the second-largest producer within OPEC, has ramped up exports in accordance with the OPEC+ agreement, with September shipments anticipated to reach between 3.4 and Read More

Gold experienced a notable increase of 2.17% yesterday, concluding at an unprecedented level of Rs 1,12,230, bolstered by strong safe-haven demand and heightened anticipations of additional rate cuts by the U.S. Federal Reserve. The rally intensified following remarks from St. Louis Fed President Alberto Musalem, who indicated that interest rates currently reside “between modestly restrictive Read More

Zinc prices decreased by 0.79% to close at Rs 276.25, coinciding with China’s refined zinc production in August reaching its highest monthly level since the first quarter of 2024. Nonetheless, the downside was constrained due to tightening supply conditions and anticipations of capacity reductions in China, as authorities escalate efforts to mitigate overcapacity in heavy Read More

Natural gas prices decreased by 1.85%, closing at 254.2, influenced by sufficient storage levels and predictions of milder weather, which are anticipated to reduce demand in the short term. Average gas output in the Lower 48 states has decreased marginally to 107.4 bcfd in September, a decline from August’s record high of 108.3 bcfd; however, Read More

In the context of increasing anticipations surrounding a potential easing of the Federal Reserve’s interest rate policy, silver has ascended to a peak not witnessed in 14 years. Silver attained a peak not observed in fourteen years within the global marketplace, surging past the $43.5 threshold. The peak valuation that MCX silver has reached historically Read More

Zinc prices declined by 0.3% to close at Rs 278.45 as traders realized profits in the wake of the U.S. Federal Reserve’s rate cut, compounded by a stronger dollar following Fed Chair Jerome Powell’s indication against further aggressive easing. Nonetheless, the drawbacks appeared constrained in light of the tightening supply dynamics and anticipations of production Read More

Crude oil futures declined by 0.97%, closing at Rs 5,591, influenced by ongoing oversupply issues and subdued fuel demand patterns in the United States. Global oil demand averaged 104.4 million bpd through September 17, which is slightly below JP Morgan’s forecast. However, the deceleration in travel activity in the U.S. and China following the summer Read More

Gold prices declined by 0.7%, closing at Rs 1,09,052, as a robust U.S. dollar dampened market sentiment in the aftermath of the Federal Reserve’s recent policy announcement. The Federal Reserve implemented a 25 basis points reduction in interest rates as expected, yet adopted a prudent stance regarding additional easing. Chair Jerome Powell highlighted a “meeting-by-meeting” Read More

Aluminium prices experienced a decline of 1.09%, settling at Rs 257.5, as Japan reported a 6.3% month-on-month increase in August stocks, thereby exerting additional pressure on the market. Nonetheless, losses were constrained as speculative bullish positions alongside robust physical demand initiated a significant reduction in LME inventories, which fell by nearly 100,000 tonnes to 375,000 Read More

Natural gas prices declined by 0.91% to close at Rs 271.6, influenced by substantial storage levels that dampened market sentiment. However, the potential for further declines appeared constrained due to reduced production and anticipations of heightened demand in the near term. In September, production in the Lower 48 states averaged 107.4 billion cubic feet per Read More

Gold prices declined by 0.3% to close at Rs 1,09,822 as investors took profits following the metal’s ascent to record highs, with attention squarely on the U.S. Federal Reserve’s policy decision. Softer payroll data has bolstered expectations for several rate cuts this year, with markets now factoring in three reductions. U.S. economic resilience was underscored Read More

Copper yesterday settled at Rs 915.8, down -0.56%, as profit-taking emerged following a rally fueled by expectations of a U.S. interest rate cut and positive U.S.-China trade developments. Officials from both countries reached a framework agreement on TikTok, which supported market sentiment and softened the impact of losses. China reported a 5% decline in September Read More

Crude oil yesterday settled up by Rs 5,694, marking a 1.92% gain, as markets priced in potential supply disruptions from Russia following renewed Ukrainian drone attacks targeting critical ports and refineries. The strikes, particularly aimed at the Primorsk export hub, are part of Ukraine’s broader strategy to disrupt Russian energy infrastructure. Goldman Sachs estimates that Read More

Gold yesterday settled marginally down by -0.02% at Rs 1,10,156 amid profit booking, as investors processed stronger-than-expected US economic data while anticipating the Federal Reserve’s policy decision on Wednesday. In August, retail sales increased beyond expectations, while import prices experienced their most significant rise in seven months, catching analysts off guard who had forecasted a Read More

Zinc yesterday settled up by 1.11% at Rs 283, influenced by investor expectations regarding forthcoming U.S. interest rate reductions and apprehensions surrounding tightening supply. The U.S. dollar experienced a decline following an increase in jobless claims and the persistence of moderate inflation data, which bolstered market expectations for a potential rate cut by the Federal Read More

Natural Gas yesterday concluded with an increase of 1.68% at Rs 265.8, bolstered by projections suggesting consistent demand in the forthcoming fortnight. Government data indicated a storage build of 71 bcf for the week ending September 5, surpassing last year’s figure of 36 bcf and exceeding the five-year average of 56 bcf. In spite of Read More

Gold yesterday closed higher by 0.74% at Rs 1,10,179 as the dollar index fell to 97.3, marking its lowest point since late July. The market has predominantly factored in a 25 basis points rate cut by the Federal Reserve, anticipated on Wednesday, while maintaining a minimal probability of a 50 basis points reduction in light Read More

Gold eased from an earlier near three-week high on Monday as investors prepared for Congressional testimony from Federal Reserve Chair Jerome Powell this week and monthly U.S. jobs data, both of which could influence interest rate policy. Spot gold was down 0.5% at $1,846.54 per ounce by 2:56 p.m. ET, after hitting its highest since Read More

Gold prices rose on Friday and looked set to post their biggest weekly gain since mid-January, as the U.S. dollar eased, while traders assessed prospects of further rate hikes by the Federal Reserve. Spot gold was up 0.2% at $1,838.84 per ounce, as of 0358 GMT, rising about 1.5% so far in the week. U.S. Read More