Commodity News

The Union Budget 2021 will be presented by Finance Minister Nirmala Sitharaman on February 1 amid the COVID-19 pandemic. The central government is expected to continue its focus on agriculture and allied sectors. However, given the government’s objective of increasing farmer incomes, sharper focus is needed on development of farm gate infrastructure, formulation and strengthening of farmer Read More

Oil prices were little changed on Tuesday after OPEC and allied producers, including Russia, continued deadlocked talks on February output while fuel demand concerns lingered on amid new COVID-19 lockdowns. Brent crude futures for March rose 8 cents, or 0.2%, to $51.17 a barrel by 0206 GMT, while U.S. West Texas Intermediate crude for February Read More

Gold prices gained on Wednesday as the dollar weakened, with investors looking past a top U.S. Republican leader’s decision to postpone a Senate vote on increased pandemic relief payments. Spot gold rose 0.2% to $1,881.62 per ounce by 0548 GMT. U.S. gold futures were up 0.2% at $1,886.20. “A weaker dollar is enough to create Read More

Gold prices jumped 1% on Monday as investors cheered news that U.S. President Donald Trump signed into law a long-awaited pandemic aid bill, with a weaker dollar lending further support. Spot gold was up 1% at $1,894.44 per ounce by 0344 GMT, after hitting a one-week high of $1,900.04 earlier in the day. U.S. gold Read More

Crude oil futures edged lower to Rs 3,545 per barrel on December 24. Crude oil prices declined after a gap up open and turned into negative territory to day’s low in the afternoon session. The US Energy Information Administration (EIA) reported that US crude inventories dropped by 562,000 barrels for the week ended December 18 Read More