Crude oil prices experienced a notable decline of 3.57%, settling at Rs 9,698. This movement reflects the market’s attempt to reconcile rising geopolitical risks with the potential that the current tensions are merely components of ongoing negotiations. Renewed clashes between the United States and Iran in the Strait of Hormuz, including attacks on vessels and Read More
The price of silver has risen to around $75 after experiencing declines in the previous week. The ongoing ceasefire with Iran remains intact, effectively reducing geopolitical uncertainties. The recent downturn in oil prices has contributed to a reduction in inflationary pressures, thereby mitigating fears of imminent interest rate hikes. The United States has halted its Read More
Copper prices decreased by 0.43%, closing at Rs 1,276.75, as new demand worries associated with rising tensions between Iran and the US countered the support from tightening near-term supply indicators. The increase in geopolitical risks has bolstered the US dollar, while simultaneously heightening worries regarding global growth and industrial demand, thereby impacting sentiment in the Read More
Natural gas prices increased by 3.78%, closing at Rs 274.5, driven by a blend of constrained supply conditions and robust export demand. The increase was mainly attributed to a storage build that was less than anticipated, reduced production rates, and nearly unprecedented LNG exports. The EIA reported a storage injection of 79 Bcf for the Read More
Gold prices fell by 1.33% to close at Rs 149,339, continuing their downward trend even amid ongoing geopolitical tensions in the Middle East. Rising risks in the Strait of Hormuz and ongoing conflict have propelled energy prices upward, amplifying global inflation worries. This has bolstered expectations that significant central banks might sustain high interest rates Read More
Aluminium experienced an increase of 0.81%, concluding at Rs 368.9. This rise was underpinned by strong manufacturing activity in China and ongoing supply-side issues associated with geopolitical tensions in the Middle East. Robust Chinese macroeconomic indicators, highlighted by a manufacturing PMI increase to 52.2 in April—marking its most rapid expansion since December 2020—bolstered confidence in Read More
Gold prices experienced a decline on Monday, continuing a trend of recent weakness as indications of diminishing tensions between the US and Iran led to a reduction in safe-haven demand for these precious metals. On the Multi Commodity Exchange, gold futures for June 5 opened at Rs 1,51,150, reflecting a decrease of Rs 382 from Read More
Copper prices declined by 0.13% to close at Rs 1,275.3, influenced by signs of an increasing global surplus and prevailing macroeconomic challenges. The appreciation of the dollar, apprehensions regarding global economic expansion, and ongoing geopolitical instability in the Middle East have negatively impacted sentiment, especially in light of weaker demand indicators from China. Data from Read More
Natural gas prices experienced a decline of 2.1%, settling at Rs 252.1. This decrease is attributed to expectations of mild weather conditions, which are facilitating higher-than-normal storage injections. Softer seasonal demand has impacted sentiment, with projections suggesting that inventory levels may increase to approximately 8% above normal in the short term. Furthermore, anticipated demand in Read More
Gold prices experienced a decline of 0.65%, settling at Rs 149,050. This movement is indicative of the ongoing pressures stemming from persistent inflation concerns and the anticipation of sustained higher interest rates. Rising geopolitical tensions in the Middle East, especially regarding U.S.–Iran developments, contributed to uncertainty; however, they did not bolster bullion, as expectations of Read More
Zinc prices experienced a decline of -1.3%, concluding at Rs 341.8, influenced by reports that Swedish miner Boliden intends to recommence production at its Garpenberg mine in the second quarter, thereby alleviating certain supply apprehensions. Nonetheless, losses were contained as short-term supply constraints persist, supporting the market due to limited availability of raw materials. Fundamentally, Read More
Crude oil prices experienced a notable increase of 4.16%, concluding at Rs 9,485, a movement attributed to enduring geopolitical tensions and supply disruptions associated with the ongoing conflict in Iran. The ongoing closure of the Strait of Hormuz, an essential conduit for global oil transportation, has markedly restricted exports from the Middle East, thereby intensifying Read More
Silver was observed trading close to $73 following a decline of more than 3%. The closure of the Strait of Hormuz has resulted in a disruption of 20% of global oil flows. Concerns regarding inflation escalated due to the most significant supply shock. Elevated rate expectations exerted pressure on non-yielding metals. Anticipation surrounds pivotal central Read More
Copper prices rose by 0.07% to settle at Rs 1293.35, supported by constricting near-term supply dynamics as global smelters engage in a focused maintenance period during the second quarter. The seasonal disruption, coupled with declining inventories in essential exchanges, has provided fundamental backing to prices. Moreover, the restocking initiatives in China ahead of the Labor Read More
Zinc prices experienced a modest decline, closing down by 0.39% at Rs 348.1, influenced by uncertainty surrounding the Iran ceasefire and prevailing geopolitical tensions that affected market sentiment. Despite the decline, the underlying fundamentals continue to provide a degree of support, mitigating the risk of a significant downturn. Tightening conditions on the supply front continue Read More
Natural gas prices experienced significant downward pressure, closing 4.15% lower at Rs 244.8, as the market responded to substantial storage builds and anticipations of ongoing strong injections in the weeks ahead. The prevailing bearish sentiment was primarily influenced by abundant supply conditions, characterized by a significant increase in inventories. The most recent figures indicated a Read More
Gold prices experienced a decline of 0.59%, settling at Rs 1,51,761. This downturn can be attributed to the strengthening of the U.S. dollar and increasing crude oil prices, both of which have intensified inflationary concerns and diminished the attractiveness of the metal. Market sentiment exhibited a cautious demeanor as U.S.-Iran negotiations faced stagnation, with ongoing Read More
Zinc prices increased by 1.75%, concluding at Rs 349.45, buoyed by a more favorable outlook regarding U.S.-Iran ceasefire developments following the declaration of an indefinite extension. This alleviated short-term geopolitical anxieties while maintaining a risk premium. Further backing was provided by the constriction of supply dynamics, as LME inventories fell to a one-month low, and Read More
Copper prices experienced a modest decline of 0.34%, concluding at Rs 1,265.05, as market participants exercised caution in anticipation of possible U.S.–Iran peace negotiations and critical indications from the Federal Reserve regarding interest rate adjustments. The Yangshan premium, indicative of China’s import demand, held steady at $69 per ton, suggesting persistent support even as it Read More
Aluminium increased by 0.43% to close at Rs 365, bolstered by fresh worries regarding supply interruptions from the Persian Gulf, a region responsible for nearly 9% of global production. Tensions have intensified following Iran’s recent closure of the Strait of Hormuz, which occurred shortly after it had been reopened, with the country attributing this move Read More
