Commodity Watch
Crude oil slips to $68 as rally fizzles out before U.S. supply report
Last week's record decline in U.S. inventories came after the shutdown of Gulf Coast refineries due to a winter storm in Texas two weeks ago.
Gold gains marginally; silver jumps Rs 553
In the international market, gold was quoting with gains at $1,696 per ounce and silver was flat at $25.50 per ounce.
Crude oil futures rise on spot demand
On Multi Commodity Exchange, crude oil for March delivery rose 0.23% to Rs 4,780 per barrel.
Gold futures gain on spot demand
On Multi Commodity Exchange, gold contracts for April delivery traded 0.48% higher at Rs 44,430 per 10 grams.
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Silver futures rise nearly 1% on spot demand
On Multi Commodity Exchange, silver contracts for May delivery gained by Rs 526 to Rs 66,378 per kg.
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(Far - Near month contract)
Premium = Futures Price > Spot Price
Discount = Futures Price < Spot Price
Hot/Cold Contract
In the international market, gold was quoting with gains at $1,696 per ounce and silver was flat at $25.50 per ounce.
Last week's record decline in U.S. inventories came after the shutdown of Gulf Coast refineries due to a winter storm in Texas two weeks ago.
Analysts said trimming of positions by speculators due to muted demand in the spot market mainly led to the fall in copper prices.
India’s cardamom exports plunged 72 per cent year-on-year to 405 tonnes in the six months to September 2019.
According to data sourced from the Multi Commodity Exchange’s (MCX) website, the average daily turnover in the crude palm oil contract was Rs 273.60 crore. The daily volume averaged 39,068 tonnes, or over 5 per cent of the country’s monthly imports.
Wheat prices were little changed after two sessions of losses, while corn ticked higher.
"On 31st December 2020 cotton deposit was 80,250 bales and on 31st December was 20,825 bales," said MCX. The curru cotton season began on October 1.
In April-September, India exported 18,000 tonnes, according to industry estimates. Exports picked up until October but slowed down after that because of the second wave of coronavirus and year-end holidays.