Commodity News

Silver prices declined to Rs 62,919 per kg on October 22 as participants increased their short positions. The precious metal had gained a percent on the COMEX on October 21. Silver prices traded lower tracking weakness in gold prices and a firm dollar. The Dollar Index is trading higher at 92.82 levels, up 0.25 percent. The precious Read More

Gold prices rose on Wednesday, propped up by a softer dollar and increasing hopes for a new U.S. coronavirus relief package ahead of the November elections. FUNDAMENTALS Spot gold rose 0.3% to $1,912.11 per ounce by 0039 GMT. U.S. gold futures were steady at $1,916.40. The dollar index was down 0.1% against rivals. The White Read More

Crude oil futures edged lower to Rs 2,968 per barrel on October 16 as participants increased their short positions on fading US stimulus hopes, OPEC’s production policy and rising coronavirus cases in the US and Europe. Mohammad Barkindo, Secretary General, Organisation of the Petroleum Exporting Countries, said demand was recovering more slowly than expected and OPEC+ Read More

Natural gas futures traded firm at Rs 202.5 per mmBtu on October 15 as participants increased their long positions. The commodity had declined 7.7 percent on the NYMEX on October 14. Prices weakened as easing storm activity boosted LNG exports and also led to production restarts in the Gulf of Mexico. Market participants are likely Read More

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