Crude oil experienced a significant increase of 2.56% yesterday, closing at Rs 5,776, driven by a contraction in global supplies due to various disruptions in major producing areas. Prices demonstrated continued strength following the confirmation of strikes by Ukraine’s military on two oil pumping stations located in Russia’s Volgograd region. Additionally, the declaration of a Read More
Gold settled lower yesterday by -1.13% at Rs 112,555, reflecting profit booking following US Fed Chair Jerome Powell’s cautious remarks regarding interest rate cuts. Despite recent gains bolstered by safe-haven demand, the yellow metal encountered pressure as Powell underscored the Federal Reserve’s challenge of reconciling persistent inflation with a declining job market. While certain Fed Read More
Aluminium yesterday concluded with a slight increase of 0.2% at Rs 255.7, bolstered by robust speculative purchasing and a constricting near-term supply situation. LME inventories experienced a significant decline, as primary aluminium stocks dropped by nearly 100,000 tonnes in the initial third of the month, reaching a total of 375,000 tonnes, indicative of swift physical Read More
Natural gas experienced an increase of 1.56% yesterday, closing at Rs 253.6. This rise was underpinned by predictions of warmer-than-normal weather throughout the U.S., which heightened expectations for stronger demand as we move into early October. LSEG has forecasted that average U.S. gas demand, inclusive of exports, will increase from 101.1 bcfd last week to Read More
Silver sustains a valuation exceeding $44, navigating the Federal Reserve’s prudent stance alongside strong industrial demand. On Wednesday, hovering near its peak valuation observed over the past fourteen years. This development transpired as market participants undertook a reassessment of the Federal Reserve’s forecasts following the prudent remarks made by Chair Jerome Powell. Powell, the Chair Read More
Copper yesterday concluded with a 0.40% increase at Rs 910.25, buoyed by short covering; however, the upward momentum was restrained by escalating inventories and a sluggish global economic environment. Data from the Shanghai Futures Exchange indicated a 12.5% increase in inventories, reaching the highest level since June at 105,814 tons, while LME stocks experienced a Read More
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
