• Sebi introduces cross margin facility on commodity futures Link
    ET Commodities Tue 29 Jun 2021 19:25
    NEW DELHI: Sebi on Tuesday decided to introduce cross margin benefit between commodity index futures and its underlying constituents futures, a move that will reduce the cost of trading and boost liquidity in such products. The move is part of Sebi's effort to improve the efficiency of the use of the margin capital by market participants, the regulator said in a circular. To be eligible for cross margin benefit, Sebi said contracts belonging to index futures and underlying constituents or its variants will belong to the same expiry month or to the nearest expiry month and should be from amongst the first three expiring contracts only. Cross margin benefit on the eligible positions will be entirely withdrawn latest by the start of the tender period for the constituent futures of the index or its variants or the start of the expiry day, whichever is earlier. Clearing corporations/exchanges can introduce cross margin benefit, after backtesting for adequacy of cross margin to...
  • Government cuts import duty on crude palm oil to 10% Link
    ET Commodities Tue 29 Jun 2021 18:25
    Currently, customs duty on crude palm oil is 15 per cent, while it is 45 per cent for all other categories of palmolein (RBD Palm Oil, RBD Palmolein, RBD Palm Stearin and any Palm Oil other than Crude Palm Oil).
  • Gold, silver edge lower as global trends remain dull Link
    ET Commodities Tue 29 Jun 2021 11:24
    NEW DELHI: Gold prices declined by Rs 89 to Rs 46,167 per 10 gram in the national capital on Tuesday following weak global cues, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,256 per 10 gram. Silver also declined by Rs 222 to Rs 67,926 per kg from Rs 68,148 per kg in the previous trade. In the international market, gold was trading lower at $1,774 per ounce and silver was flat at $26.02 per ounce. "Gold prices witnessed lower trading on stronger dollar," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services said, "Gold prices edged lower after steady move witnessed in the last couple of sessions amidst an uptick in dollar."
  • Zinc futures up on spot demand Link
    ET Commodities Tue 29 Jun 2021 11:24
  • Aluminium futures fall on low demand Link
    ET Commodities Tue 29 Jun 2021 11:24
  • Nickel futures slide on tepid demand Link
    ET Commodities Tue 29 Jun 2021 11:24
    On the Multi Commodity Exchange, nickel contracts for the July delivery traded lower by Rs 5.70, or 0.42 per cent, to Rs 1,356.10 per kg with a business turnover of 2,356 lots.
  • Soybean futures rise on fresh bets Link
    ET Commodities Tue 29 Jun 2021 10:24
    On the National Commodity and Derivatives Exchange, soybean for July delivery rose by Rs 61, or 0.86 per cent, to Rs 7,140 per quintal with an open interest of 32,420 lots.
  • Guar seed futures rise on fresh bets Link
    ET Commodities Tue 29 Jun 2021 10:24
    On the National Commodity and Derivatives Exchange, guar seed for July contracts increased by Rs 14, or 0.35 per cent, to Rs 4,025 per 10 quintal with an open interest of 42,060 lots.
  • Coriander futures decline on low demand Link
    ET Commodities Tue 29 Jun 2021 10:24
  • Gold heads for biggest monthly drop since 2016 on Fed officials' hawkish views Link
    ET Commodities Tue 29 Jun 2021 07:24
    Gold prices edged lower on Tuesday to hover near a one-week low hit in the previous session. It was headed for the biggest monthly drop in more than four years, weighed down by a firm dollar and concerns that the US Federal Reserve will tighten its monetary policy sooner than expected. Spot gold was down 0.1% to $1,776.29 per ounce by 0525 GMT, after marking its lowest since June 21 at $1,770.36 on Monday. US gold futures fell 0.3% to $1,776.20. ED&F Man Capital Markets analyst Edward Meir said listless trading was seen in the gold market as some market participants were still confused over the Fed's policy outlook. Several Fed policy makers have turned hawkish despite a weaker-than-expected US inflation reading last week. The Fed has made "substantial further progress" towards its inflation goal in order to begin tapering asset purchases, Fed Bank of Richmond President Thomas Barkin said. The dollar hovered below a two-month high against its rivals, making gold more...
  • Commodity strategies: Gold, silver, crude, base metals Link
    ET Commodities Tue 29 Jun 2021 07:24
    The precious metals witnessed range-bound trading as market players are awaiting fresh cues from US employment data this week. Bullion prices have kept to a steady trading range on the firm dollar and worries over rising cases of Covid-19's delta variant across the globe.
  • Commodity traders harvest billions while prices rise for everyone else Link
    ET Commodities Tue 29 Jun 2021 06:24
    For the first time since the pre-crisis years before 2008, the commodities boom means central banks are fretting about inflation. The rally will have a political impact, too. With oil back at $75 a barrel, Saudi Arabia and Russia are back in the driving seat of the global energy market.
  • Gold price today: Yellow metal tepid; silver slips below Rs 69,000 Link
    ET Commodities Tue 29 Jun 2021 05:24
    Gold futures on MCX were down 0.16 per cent, or Rs 74, at Rs 46,934 per 10 gram. Silver futures shed 0.37 per cent, or Rs 255, to Rs 68,978 per kg.
  • Gold inches lower on firm dollar, Fed hawkish stance Link
    ET Commodities Tue 29 Jun 2021 03:29
    Gold prices eased on Tuesday, as a firmer dollar made bullion expensive for holders of other currencies while concerns that the U.S. Federal Reserve will tighten its monetary policy sooner than expected also dented the metal's appeal. Gold is seen as a hedge against inflation, though a rate hike by the Fed will increase the opportunity cost of holding bullion and dull its appeal. Spot gold was down 0.2% at $1,775.42 per ounce, as of 0100 GMT. U.S. gold futures fell 0.2% to $1,776.40. The dollar index strengthened 0.1% against rivals. The Fed has made "substantial further progress" towards its inflation goal in order to begin tapering asset purchases, Fed Bank of Richmond President Thomas Barkin said on Monday. The supply chain imbalances and higher demand currently leading to higher inflation are transitory and the Fed has the tools to respond if inflation remains elevated for longer than anticipated, Fed Vice Chair for Supervision Randal Quarles said on Monday.
  • Oil falls as flare-ups of COVID-19 variant threaten fuel demand Link
    ET Commodities Tue 29 Jun 2021 03:29
    OPEC's demand forecasts show that in the fourth quarter global oil supply will fall short of demand by 2.2 million barrels per day (bpd), giving the producers some room to agree to add output.
  • Crude oil slips after hitting highest since 2018 before OPEC+ talks Link
    ET Commodities Mon 28 Jun 2021 16:28
    LONDON: Oil prices slipped on Monday after hitting more than 2-1/2 year highs earlier in the session, as a spike in COVID-19 cases in Asia put a brake on their rally before this week's OPEC+ meeting. Brent was down 33 cents, or 0.4%, at $75.85 a barrel at 1326 GMT, after climbing to $76.60, its highest since October 2018. U.S. crude was 27 cents, or 0.4%, lower at $73.78 a barrel. But analysts said the rally had not yet run out of steam. "With sentiment running high, market watchers say crude prices are likely to keep rising ... Vaccination rollouts and strong summer demand make for a potent bullish cocktail," said Stephen Brennock of oil broker PVM. Oil prices rose for a fifth week last week as fuel demand rebounded on strong economic growth and increased travel during the northern hemisphere summer, while crude supplies were tight as the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, maintained production cuts. OPEC+ is gradually...
  • Gold gains by Rs 116; silver rises to Rs 67,015 Link
    ET Commodities Mon 28 Jun 2021 12:28
    NEW DELHI: Gold in the national capital on Monday gained Rs 116 to Rs 46,337 per 10 gram reflecting strong global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,221 per 10 gram. Silver also jumped Rs 161 to Rs 67,015 per kilogram from Rs 66,854 per kilogram in the previous trade. "Spot gold prices for 24 carat in Delhi were up by Rs 116 reflecting strong COMEX gold prices and support from rupee depreciation," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel. The Indian rupee slumped 6 paise to 74.26 against the US dollar in opening trade on Monday.
  • Copper futures fall on weak demand Link
    ET Commodities Mon 28 Jun 2021 12:28
    On the Multi Commodity Exchange, copper contracts for the July delivery eased by Rs 1.25, or 0.17 per cent, to Rs 720.40 per kg in a business turnover of 4,394 lots.
  • Aluminium futures fall on low demand Link
    ET Commodities Mon 28 Jun 2021 12:28
  • Nickel futures slide on tepid demand Link
    ET Commodities Mon 28 Jun 2021 12:28
    On the Multi Commodity Exchange, nickel contracts for the July delivery traded lower by Rs 11.50, or 0.83 per cent, to Rs 1,370.20 per kg with a business turnover of 2,427 lots.
  • Soybean futures rise on fresh bets Link
    ET Commodities Mon 28 Jun 2021 10:28
    On the National Commodity and Derivatives Exchange, soybean for July delivery rose by Rs 58, or 0.83 per cent, to Rs 7,038 per quintal with an open interest of 33,740 lots.
  • Guar seed futures rise on fresh bets Link
    ET Commodities Mon 28 Jun 2021 10:28
    On the National Commodity and Derivatives Exchange, guar seed for July contracts increased by Rs 4, or 0.1 per cent, to Rs 4,036 per 10 quintal with an open interest of 42,980 lots.
  • Coriander futures rise on spot demand Link
    ET Commodities Mon 28 Jun 2021 10:28
    On the National Commodity and Derivatives Exchange, coriander for July delivery went up Rs 26, or 0.38 per cent, to Rs 6,798 per quintal with an open interest of 7,015 lots.
  • Copper eases as dollar firms on US inflation fears Link
    ET Commodities Mon 28 Jun 2021 07:28
    Three-month copper on the London Metal Exchange was down 0.3% at $9,383.50 a tonne, as of 0528 GMT, while the most-traded August copper contract on the Shanghai Futures Exchange ended the morning session down 0.7% at 68,440 yuan ($10,591) a tonne.
  • Commodity strategies: How gold and silver may trade today Link
    ET Commodities Mon 28 Jun 2021 07:28
    On the momentum front, MACD for MCX Gold August futures has turned negative as the histograms turned negative, suggesting a sideways to weaker trend. Immediate support for August futures holds around Rs. 46600, followed by Rs. 46250.
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