Crude oil futures declined to Rs 2,932 per barrel on October 12 as participants increased their short position as seen by the open interest. Crude oil prices traded lower amid oversupply fears as production resumed in Libya and Norway at a time when demand recovery is stalling. The number of rigs drilling crude oil in the Read More
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Gold prices tanked Rs 757 to Rs 50,287 per 10 gram in the Mumbai retail market on rupee appreciation against the dollar and strength in equity markets. The precious metal witnessed a roller coaster movement earlier in the day after US President Donald Trump’s surprise move to halt stimulus talks until after the election next Read More
Crude oil futures traded firm at Rs 2,902 per barrel on October 6 as participants increased their long positions. Prices gained tracking gains in equity markets, growing optimism of a US stimulus package and a labour strike in Norway. Prices also rose on news that tropical storm Delta has rapidly strengthened to a hurricane in Read More
Crude palm oil (CPO) futures declined to Rs 752.40 per 10 kg on October 5 as participants increased their short position as seen by the open interest. Malaysian palm oil futures fell marginally by 0.07 percent to trade at 2,764 Ringgits on Bursa Malaysia Bhd. According to Solvent Extractors Association (SEA), CPO import fell by Read More
Silver prices rose to Rs 60,200 per kg on October 1 as participants increased their long positions as seen by the open interest. The precious metal had declined 3.9 percent yesterday on COMEX. Silver traded higher on improving outlook for industrial demand amid upbeat US and Chinese economic data. Silver holdings in iShares ETF fell by Read More
Silver prices dropped to Rs 60,650 per kg on September 30 despite participants increasing their long positions, as seen by the open interest. The precious metal had gained 3.6 percent the previous day on the COMEX Index. The US dollar index, measured against a basket of six currencies gained 0.28 percent to trade at 94.19, 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
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