"We have seen some short-term buying interest come back into the market in line with the weaker dollar and lower bond yields. But if we fail to break higher soon, then there is a risk we could run into some renewed period of profit taking," said Saxo Bank analyst Ole Hansen.

Soybean prices declined more than 3 per cent on Monday as traders trimmed their positions amid weak demand in the spot market. NCDEX soybean futures for May declined by Rs 239 or 3.29 per cent to Rs 7,032 per 100 kilogram in 81,285 lots. Sources said the reduction in the size of orders by traders was behind the sharp fall in the futures market. The June contract declined by Rs 280 or 3.94 per cent to Rs 6,849 per quintal in 37,410 lots. Refined soy oilNCDEX refined soy oil futures (May) came down by Rs 8.5 or 0.52 per cent to Rs 1,386.5 per 10 kilogram in 33,830 lots as speculators turned to smaller deals amid weak demand in the spot market. Analysts said that traders' lower orders in comparison to adequate stocks affected the price in the futures market.

NEW DELHI: Nickel prices rose by 0.48 per cent to Rs 1,246 per kg in futures trade on Monday as speculators built fresh positions on rising demand from alloy makers in the spot market. On the Multi Commodity Exchange, nickel contracts for May delivery gained Rs 6, or 0.48 per cent, to Rs 1,246 per kg in a business turnover of 1,187 lots. Rise in demand in the spot market from alloy makers mainly supported the price rise in nickel futures, analysts said.

NEW DELHI: Cottonseed oil cake prices on Monday declined by Rs 93 to Rs 2,671 per quintal in futures trade as participants reduced their bets tracking a weak trend in spot market. Analysts said sell-off by participants at existing levels amid subdued trend in market mainly weighed on cottonseed oil cake prices. On the National Commodity and Derivatives Exchange, cottonseed oil cake for May delivery fell by Rs 93, or 3.36 per cent, to Rs 2,671 per quintal with an open interest of 1,04,940 lots. Cottonseed oil cake for June delivery went down by Rs 94, or 3.32 per cent, to Rs 2,735 per quintal in 28,880 lots.

NEW DELHI: Coriander prices on Monday fell by Rs 152 to Rs 6,634 per quintal in futures trade as speculators reduced their positions amid weak demand at spot market. On the National Commodity and Derivatives Exchange, coriander contracts for May eased by Rs 152, or 2.24 per cent, to Rs 6,634 per quintal in 8,410 lots. For June delivery, the price decreased by Rs 172, or 2.5 per cent, to Rs 6,716 per quintal in 1,165 lots. Market analysts said subdued demand in spot market mainly led to decline in coriander prices here.

NEW DELHI: Crude oil prices on Monday fell by Rs 41 to Rs 4,611 per barrel after the participants reduced their positions. On the Multi Commodity Exchange, crude oil for May delivery dropped by Rs 41, or 0.88 per cent, to Rs 4,611 per barrel with a business volume of 5,271 lots. Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid weak spot demand. Globally, West Texas Intermediate crude oil was trading 1.09 per cent lower at USD 61.46 per barrel. Meanwhile, Brent Crude, the international benchmark, dipped 1.12 per cent to trade at USD 65.37 per barrel in New York.

Domestic gold and silver futures struggled below the flatline amid a rebound in equities although strength in the rupee offered some support. Globally, analysts awaited the outcome of a scheduled policy meeting by the Federal Reserve for more clarity on interest rates going forward. MCX gold futures for delivery on June 4 declined by Rs 121 or 0.25 per cent to quote at Rs 47,411 per 10 grams at the last count. The August 5 contract eased by Rs 133 or 0.28 per cent to Rs 47,700 per 10 grams. Silver followed suit, falling by Rs 252 or 0.37 per cent to Rs 68,422 per kilogram. Appreciation in the rupee amid some weakness in the dollar failed to prop up prices of precious metals amid gains on Dalal Street, where benchmark indices clocked their sharpest single-day jump in nearly two weeks as investors cheered ICICI Bank's strong Q4 earnings. Typically, precious metals share an inverse relationship with equities, as higher returns in shares affect their safe-haven appeal. In the...

Gold witnessed a sell off from higher levels as the bulls failed in keeping it above Rs 48000. Although the short term trend is positive, some more corrective move is possible. Resistance for the day is pegged at Rs 47700 and strong resistance near Rs 48000. RSI is close to 50 indicating a sideways move. Support is near Rs 47290 and strong support is close to Rs 47000. For the day, we expect price to trade with a negative bias until Rs 48000 holds. Immediate downside objective would be Rs 47290. Only a break above Rs 48000 might once again give bulls the edge to take it past Rs 48400. Strategy: Sell MCX Gold June at Rs 47700 with a target price of Rs 47290 and a stop loss at Rs 47960. MCX Silver followed gold as it fell to the support near Rs 68400. For the day, the trend continues to be sideways to down until the price is below Rs 69500. RSI is slightly below 50 which might support the bears. Resistance zones near Rs 68800-69000 where selling might pitch in. Similarly,...

This weekly market tracker tracks alternative investments. In addition to economic concerns triggered lower demand, surprise inventory build up also pulled the crude oil down. Here is how gold, silver and platinum fared last week.

NEW DELHI: Gold jumped Rs 159 to Rs 46,301 per 10 gram in the national capital on Thursday reflecting recovery in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,142 per 10 gram. Silver also gained Rs 206 to Rs 67,168 per kilogram from Rs 66,962 per kilogram in the previous trade. In the international market, gold was trading with gains at $1,745 per ounce and silver was flat at $25.52 per ounce.

NEW DELHI: Aluminium prices gained 0.85 per cent to Rs 189.80 per kg in the futures trade on Thursday as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium contracts for the April delivery rose Rs 1.60, or 0.85 per cent, to Rs 189.80 per kg in a business turnover of 2,242 lots. Analysts said creation of fresh positions by traders on demand from consumer industries supported aluminium prices in the futures market.

NEW DELHI: Gold prices on Thursday rose by Rs 272 to Rs 46,880 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 272, or 0.58 per cent, at Rs 46,880 per 10 gram in a business turnover of 11,629 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Gold prices traded 0.51 per cent higher at USD 1,745.10 per ounce in New York.

NEW DELHI: Crude oil prices rose by Rs 9 to Rs 4,761 per barrel on Thursday as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for April delivery traded higher by Rs 9, or 0.19 per cent, at Rs 4,761 per barrel in 5,520 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate crude oil gained 1.30 per cent to USD 63.34 per barrel, while Brent crude traded 0.38 per cent lower at USD 66.83 per barrel in New York.

In a report outlining a scenario where the world acts decisively to tackle greenhouse gas emissions by electrifying transport and industry, Edinburgh-based Wood Mackenzie said oil consumption would begin a steep drop as early as in 2023.

Bullion prices traded higher on dollar decline which fell to three week lows despite of some uptick in bond yields. The higher inflation concerns and worries over rising virus cases have supported buying in precious metals.

Gold futures on MCX were up 0.35 per cent or Rs 162 at Rs 46,770 per 10 grams. Silver futures added 0.20 per cent or Rs 137 to Rs 67,775 per kg.

The U.S. economy accelerated into the spring on the basis of rising consumer sentiment, according to the Federal Reserve, and Fed Chair Jerome Powell said the country is on track for faster growth and hiring in the coming months.

U.S. crude inventories were down by 5.9 million barrels last week, the Energy Information Administration (EIA) said on Wednesday, more than double analysts' expectations for a 2.9 million-barrel decline. East Coast crude stocks hit a record low.

The rise in price of soybean--an agri-commodity used to produce oil and animal feed--has resulted in soybean oil becoming costlier than mustard oil for the first time since 2008, when the global commodity markets had witnessed a sharp rally.

Changes to margin rules by Sebi have impacted trading volumes across asset classes over the past few months. While the move is aimed at preventing brokers from providing excessive leverage to traders, limiting risk and protecting retail investors, margin funding is an important tool for smaller brokers and some market participants say further tightening of the norms may hurt pockets such as commodity derivatives more. Last year, Sebi decided to make upfront margin collection mandatory to discourage brokers from providing excessive discretionary leverage to their clients. The first phase of the new rules came into effect on December 1, when it was made mandatory for members to collect upfront margins from investors, failing to do which would attract a penalty. Exchanges were also asked to collect maximum margin from clients based on intraday checks in contrast to end-of-day monitoring being done previously. From March 1, 2021, Sebi hiked the upfront margin requirement to 50 per...

MELBOURNE: Oil prices rose in early trade on Wednesday, adding to overnight gains, after industry data showed U.S. oil inventories declined more than expected and OPEC raised its outlook for oil demand. Brent crude futures rose 28 cents, or 0.4%, to $63.95 a barrel at 0057 GMT, after climbing 39 cents on Tuesday. U.S. West Texas Intermediate (WTI) crude futures similarly climbed 28 cents, or 0.5%, to $60.46 a barrel, adding to Tuesday's rise of 48 cents. Oil price gains over the past week have been underpinned by signs of a strong economic recovery in China and the United States, but have been capped by concerns over stalled vaccine rollouts worldwide and soaring COVID-19 infections in India and Brazil. Nevertheless, the Organization of the Petroleum Exporting Countries (OPEC) tweaked up its forecast on Tuesday for world oil demand growth this year, now expecting demand to rise by 5.95 million barrels per day (bpd) in 2021, up by 70,000 bpd from its forecast last month. It is...

Spot gold was 0.7% higher at $1,744.33 per ounce by 12:20 p.m. EDT (1620 GMT), after earlier dipping to $1,722.67, its lowest mark since April 5. US gold futures rose 0.7% to $1,743.90.

Barley prices jumped nearly 4 per cent on Tuesday, extending recent gains as market participants stared at supply disruptions on account of the coronavirus pandemic. NCDEX's barley contract for April 20 delivery jumped by Rs 67 or 3.74 per cent to Rs 1,860 per 100 kilograms amid low volumes. With Tuesday's gain, the crop took its cumulative gain to 19 per cent since March 17, and 42 per cent since October 4 last year as part of a broader trend. Barley trades will be very low volume on NCDEX, with the April contract having open interest of 220 metric tonnes. Analysts say the commodity appears to be in an uptrend, with prices expected to increase further going forward. "Fundamentally, there are supply concerns in the domestic market due to Covid-19 and good demand from the beer industry, which is also supporting the prices," said Manoj Kumar Jain, Director-Head of Commodity Research, Prithvi Finmart.

Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the Organization of the Petroleum Exporting Countries forecast in its monthly report. That is up 70,000 bpd from last month.