Commodity Watch
12 Jun | 11:53AM
FUTURES PRICE(Near month contract prices)
Gold price movement: Fed action impact & what history suggests in a falling rate regime?
Gold investors await the outcome of the Federal Open Market Committee (FOMC) meeting for insights on the US Federal Reserve's interest rate cut impact. The European Central Bank and Bank of Canada have already reduced policy rates.
Gold Price Today: Yellow metal opens flat at Rs 71,547/10 grams; silver falls by Rs 6,800 in June so far
As investors awaited the US CPI data scheduled for later in the day, gold prices for August futures contracts on MCX began the day unchanged at Rs 71,547 per 10 grams. In contrast, MCX July silver contracts have experienced a decline of Rs 6,800 since the beginning of June, opening today at Rs 89,317 per kg.
Gold rush grips Asia despite near-record prices
Gold demand in Asia is increasing despite near-record high prices, driven by geopolitical and economic uncertainty. Spot gold trades over $2,300 per ounce, up 12% year-to-date, and 6% below the record high. Lower confidence in real estate and equities also fuels the demand.
Oil prices edge up on optimistic demand outlook
Oil prices rose on positive demand outlooks from EIA and OPEC, with Brent crude up 0.1% to $82.04 and WTI crude up 0.2% to $78.10.
Top News
Oil prices extend rally on potential U.S. crude purchase for reserve Oil rises on hopes of summer fuel demand Gold Price Today: Yellow metal prices fall by Rs 3,400/10 grams in 20 days; silver drops Rs 6,000/kg Oil slips on dollar's strength from US jobs data Gold slides 3% on double blow of strong jobs report, China data Oil dips on deflated US interest rate cut expectations, OPEC+ decision Gold Price Today: China pulls plug on buying, yellow metal plunges Rs 1,200/10 gram, silver by Rs 3,300/kg
Buyers return to stores as gold prices cool down
Gold prices fell by 4.5% in three weeks, boosting consumer sentiment. Mumbai's Zaveri Bazaar, Asia's largest gold market, saw increased activity at jewellers like Joyalukkas and Senco Gold & Diamonds.
Calendar Spread
(Far - Near month contract)
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Calendar Spread
(Far - Near month contract)
Calendar Spread means entering a long and short position on the same underlying asset futures but with different delivery months. The strategy to play with calendar spread is to understand how much premium/discount two different contracts are trading at.(Far - Near month contract)
Disclaimer:These Strategies are not ET recommended its a market overview.
(Near Month Futures - Spot Price)
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Calender Spread
Premium = Futures Price > Spot Price
Discount = Futures Price < Spot Price
Its relevance in derivatives market is to understand the trend whether it’s bullish or bearish. Moreover it helps arbitrageurs and hedgers to decide on cost of carry.Premium = Futures Price > Spot Price
Discount = Futures Price < Spot Price
Disclaimer:These Strategies are not ET recommended its a market overview.
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Gold slides 3% on double blow of strong jobs report, China data
Gold prices fell 3% to $2,304.54 after a strong U.S. jobs report dampened expectations for rate cuts, exacerbated by China's pause in gold purchases in May.
Gold prices fell 3% to $2,304.54 after a strong U.S. jobs report dampened expectations for rate cuts, exacerbated by China's pause in gold purchases in May.
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Oil slips for third day on prospect of US rates staying high
Brent crude futures were down 87 cents, or 1.1%, at $82.01 a barrel, while U.S. West Texas Intermediate crude (WTI) was down 81 cents, or 1%, to $77.85 at 1255 GMT. Both benchmarks settled about 1% lower on Tuesday.
Brent crude futures were down 87 cents, or 1.1%, at $82.01 a barrel, while U.S. West Texas Intermediate crude (WTI) was down 81 cents, or 1%, to $77.85 at 1255 GMT. Both benchmarks settled about 1% lower on Tuesday.
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Copper hits lowest in more than five weeks on firm dollar
London copper prices hit a five-week low due to a strong dollar and weak physical demand, affecting LME and SHFE markets.
London copper prices hit a five-week low due to a strong dollar and weak physical demand, affecting LME and SHFE markets.
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Commodity Talk: Jeera price may test Rs 50,000 in 1 year, says Anuj Gupta of IIFL Securities
This price appreciation is basically due to the mismatch in demand and supply as tight supplies across the globe have engineered elevation in price levels.
This price appreciation is basically due to the mismatch in demand and supply as tight supplies across the globe have engineered elevation in price levels.
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Oil prices fall on demand fears, headed for second weekly loss
Oil prices fell as demand concerns outweighed the prospect of tighter supply from global producers and investors remained sceptical that the US and Iran could strike a nuclear deal. However, there is both upside and downside pressure on prices, amid fears over tighter supply and expectations of higher demand as the US enters driving season being offset by worries over further US interest rate hikes and a slow pickup in China's fuel demand. For the week, both benchmark prices were on track for about 1% losses and for a second week of losses.
Oil prices fell as demand concerns outweighed the prospect of tighter supply from global producers and investors remained sceptical that the US and Iran could strike a nuclear deal. However, there is both upside and downside pressure on prices, amid fears over tighter supply and expectations of higher demand as the US enters driving season being offset by worries over further US interest rate hikes and a slow pickup in China's fuel demand. For the week, both benchmark prices were on track for about 1% losses and for a second week of losses.
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Basmati prices cool at home as a restive Red Sea hurts exports
Leading shipping lines' decision to avoid the Suez Canal route amid Houthi attacks has also impacted sunflower oil imports from Russia and Ukraine. Sunflower oil prices in the local market are likely to go up by 3-4% as international prices have increased by $30 per tonne in the last one week to $940 per tonne, trade insiders said. Basmati exporters said the export market has become sluggish and the shipping cost to places like Jeddah, Yemen, Beirut, and Durban have shot up multiple times in some cases.
Leading shipping lines' decision to avoid the Suez Canal route amid Houthi attacks has also impacted sunflower oil imports from Russia and Ukraine. Sunflower oil prices in the local market are likely to go up by 3-4% as international prices have increased by $30 per tonne in the last one week to $940 per tonne, trade insiders said. Basmati exporters said the export market has become sluggish and the shipping cost to places like Jeddah, Yemen, Beirut, and Durban have shot up multiple times in some cases.
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Commodity outlook: Here is how agro-commodities may fare
Castor seed, chana, kapas and jeera recorded gains on NCDEX
Castor seed, chana, kapas and jeera recorded gains on NCDEX
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Mentha oil futures jump 6% intraday, 25% in August. Is correction on cards?
Commodity and currency expert Neha Qureshi, Senior Technical & Derivative Analyst at Anand Rathi said that mentha oil prices have seen a dramatic rise in the last couple of weeks as supply-side fundamentals are seen tightening amid an expected drop in output during the 2023-24 season. "Output of this oil is seen declining for a second straight year and thus carryover stocks will shrink further by the end of the season," Qureshi said.
Commodity and currency expert Neha Qureshi, Senior Technical & Derivative Analyst at Anand Rathi said that mentha oil prices have seen a dramatic rise in the last couple of weeks as supply-side fundamentals are seen tightening amid an expected drop in output during the 2023-24 season. "Output of this oil is seen declining for a second straight year and thus carryover stocks will shrink further by the end of the season," Qureshi said.
