Natural gas futures jumped to Rs 197.50 per mmBtu on December 18 as participants increased long positions. Natural gas price had declined 1.53 percent yesterday on the NYMEX. The US Energy Information Administration (EIA) reported that US natural gas inventories dropped by 122 billion cubic feet (bcf) for the week ended December 11. MCX iCOMDEX Read More
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Crude palm oil futures traded firm at Rs 925.50 per 10 kg on December 17. Malaysian palm oil futures jumped 1.15 percent to settle at 3,404 Ringgits on Bursa Malaysia Bhd. Malaysian Palm Oil Board (MPOB) reported Malaysian palm oil stock at 15.64 lakh tons, down by 0.5 percent from last month. Kshtij Purohit, Product Read More
India’s palm oil imports fell 8 percent on year in November to their lowest in five months, as a rally in the price of the tropical oil made soyoil more attractive for refiners, a leading trade body said on Tuesday. The country imported 618,468 tonnes of palm oil in November, down from 672,363 in the same Read More
Crude oil futures edged higher to Rs 3,468 per barrel on December 14. Crude oil price extended gain in the afternoon session after a gap up opening on optimism over the potential vaccine rollout. Oil prices touched levels of $50 for the first time since March, edging higher on optimism surrounding vaccinations, the OPEC+ deal, Read More
Crude palm oil futures traded steady at Rs 910 per 10 kg on December 11 as participants trimmed their position. Malaysian palm oil futures soared 0.56 percent to settle at 3,422 Ringgits on Bursa Malaysia Bhd. The recovery in crude palm oil has been supported by increased purchases by China and anticipation of steep fall Read More
Crude palm oil futures traded firm at Rs 902.80 per 10 kg on December 10 as participants increased their long position as seen by the open interest. Malaysian palm oil futures gained 1.48 percent to settle at 3,408 Ringgits on Bursa Malaysia Bhd. The Malaysian Palm Oil Association (MPOA) expects Malaysian palm oil output to Read More
Gold prices eased on Wednesday as encouraging vaccine developments pushed investors towards riskier equities, although hopes for more U.S. stimulus kept bullion near two-week highs hit in the previous session. Spot gold fell 0.3% to $1,865.46 per ounce by 0309 GMT, after hitting its highest since Nov. 23 at $1875.07 on Tuesday, while U.S. gold Read More
Silver prices declined to Rs 63,050 per kg on December 7 as participants increased their short positions as seen by the open interest. Last week, spot silver prices gained over 6.4 percent to close at $24.2 per ounce in line with the international gold prices. Meanwhile, silver prices on the MCX surged about 6 percent Read More
Gold prices firmed on Friday, set for their first weekly gain in four, as growing optimism over a U.S. fiscal stimulus deal pressured the dollar and boosted the metal’s appeal as an inflation hedge. Spot gold rose 0.2 % to $1,843.99 per ounce by 0310 GMT. U.S. gold futures were up 0.4% at $1,847.90. Gold Read More
Oil prices extended losses on Wednesday, hit by a surprise build in oil inventories in the United States and as OPEC and its allies left markets in limbo by delaying a formal meeting to decide whether to increase output in January. Brent crude oil futures were down by 27 cents, or 0.6%, at $47.15 a Read More
Gold fell on Monday en route to its worst month in four years, as optimism over a coronavirus vaccine-led economic revival prompted investors to buy into traditional risk assets. Spot gold declined about 1 percent to $1,771.22 per ounce by 0452 GMT, shedding 5.7 percent so far this month – its biggest since November 2016. US gold Read More
India on Thursday slashed import tax on crude palm oil to 27.5 percent from 37.5 percent, the government said in a statement, as New Delhi tries to bring down rising food prices. India is the world’s biggest importer of palm oil. It imports around 9 million tonnes of palm oil annually, mainly from Indonesia and Read More
Oil rose for the fourth straight session on Wednesday as the market shrugged off an industry report showing U.S. crude stockpiles rose more than expected, extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand. Brent crude was up 44 cents, or 0.9%, at $48.30 a barrel by 0743 GMT, having Read More
Gold slipped below Rs 48,500 per 10 gm in Indian markets on November 25 as investors shifted focus on risky assets. On the Multi-Commodity Exchange (MCX), December gold contracts were trading lower by 0.26 percent at Rs 48,460 per 10 gram at 0920 hours. December silver was trading 0.25 percent lower at Rs 59,472 per Read More
Gold extended declines to a four-month trough on Tuesday as investors dived into riskier assets following drugmaker AstraZeneca’s boost to the coronavirus vaccine race and a U.S. federal agency’s White House transition approval for Joe Biden. Spot gold fell 0.5% to $1,825.99 per ounce by 0545 GMT, having earlier slid to its lowest since July Read More
Gold climbed higher on Monday, as a softer dollar and hopes of further U.S. monetary stimulus to cushion the pandemic-hit economy offset optimism over the possibility of a COVID-19 vaccine rollout next month. Spot gold rose 0.2% to $1,873.51 per ounce by 0510 GMT and U.S. gold futures were little changed at $1,871.70. U.S. Treasury Read More
Gold was trading flat in but above the important Rs 50,000 per 10 gm mark in the Indian markets on November 20, tracking a muted trend in international spot prices. On the Multi-Commodity Exchange (MCX), December gold contracts were trading higher by 0.10 percent at Rs 50,040 per 10 gram at 0920 hours. December silver Read More
Gold recovered from a more than 1% dip on Monday as investors weighed immediate concerns over rising coronavirus cases and bets on further economic support even as Moderna became the second drugmaker to declare effective vaccine test results. Spot gold was steady at $1,887.10 per ounce. U.S. gold futures settled 0.1% higher at $1,887.80. Bullion Read More
Gold prices were little changed on Tuesday, as concerns over spiking U.S. coronavirus cases offset pressure from vaccine optimism brought about by a positive vaccine trial data. FUNDAMENTALS * Spot gold was unchanged at $1,887.99 per ounce by 0050 GMT, while U.S. gold futures were up 0.1% at $1,888.70. * Bullion dropped as much as Read More
Gold prices touched a one-week high on Monday propped up by a weaker dollar, while mounting US coronavirus cases escalated concerns of the pandemic’s impact on economic recovery underpinning hopes of further monetary stimulus. Spot gold rose 0.5 percent to $1,896.85 per ounce by 0329 GMT, after hitting its highest level since November 9 at Read More