Globally, West Texas Intermediate crude oil rose by 0.08 per cent to USD 39.34 per barrel, while Brent crude was trading up 0.53 per cent at USD 41.66 per barrel in New York.

On the Multi Commodity Exchange, zinc contracts for September delivery traded higher by Rs 1.05, or 0.55 per cent, at Rs 193.70 per kg with a business turnover of 2,187 lots.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in December traded up by Rs 7, or 0.39 per cent to Rs 1,822 per quintal with an open interest of 19,590 lots.

KUALA LUMPUR: Malaysian palm oil futures extended losses to a second session on Tuesday as Dalian prices weakened, but hopes of strong demand ahead of key festivals in China and India capped losses. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange slid 27 ringgit, or 0.9 per cent, to 2,980 ringgit ($721.03) a tonne by 0235 GMT. It had snapped a four-session rally to fall 2.4 per cent on Monday. Exports from Malaysia to the world's second-largest palm buyer China have picked up ahead of the week-long holiday for the Mid-Autumn festival, starting Oct. 1, according to cargo surveyor data. Shipments are expected to be steady until next month, with arrivals to top buyer India expected to improve ahead of the Diwali festival there, according to Refinitiv Commodities Research. Fundamentals Palm oil imports into the European Union and Britain in the 2020/21 season that started on July 1 totalled 1.41 million tonnes by Sept. 20, up...

India's crude oil imports declined in August, albeit at a slower pace, as soaring coronavirus cases continued to hit mobility and slowed economic recovery, government data showed on Monday. Crude oil imports last month fell about 23.4 per cent from a year earlier to 15.15 million tonnes, or 3.58 million barrels per day (bpd), data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas showed. On a monthly basis, imports rose 9.9 per cent from 13.79 million tonnes, or 3.26 bpd in July. Fuel demand in the world's third-biggest oil importer and consumer also slipped in August, posting its biggest monthly decline since April and a sixth consecutive year-on-year drop. India's coronavirus tally hit 5.49 million, with infections second only to U.S. with 6.79 million, a figure the country could overtake in the next few weeks at its current rate of increase. Refined product imports edged up 1.5 per cent to 3.25 million tonnes...

Gold prices fell Rs 326 to Rs 52,423 per 10 gram in the national capital on Monday, in line with a weak global trend and rupee appreciation, according to HDFC Securities. Silver prices also declined Rs 945 to Rs 68,289 per kilogram.

U.S. West Texas Intermediate (WTI) crude futures for October, due to expire on Tuesday, rose 26 cents, or 0.7%, to $39.57 a barrel at 0224 GMT. The more active November contract rose 15 cents, or 0.4%, to $39.69. Brent crude futures rose 13 cents, or 0.3%, to $41.57 a barrel.

Spot gold rose 0.3% to $1,918.20 per ounce by 1252 GMT. Bullion prices fell to their lowest level since Aug. 12 at $1,882.70 on Monday as the U.S. dollar soared to an almost six-week high. A firmer dollar makes bullion more expensive for holders of other currencies.

Out of the total deliveries of metal, aluminium accounted for 30,771 tonnes, copper 24,852.50 tonnes, lead 10,517 tonnes, nickel 3,646.50 tonnes and zinc 37,027 tonnes after completion of their August contract delivery cycle.

New Delhi: Gold prices fell Rs 326 to Rs 52,423 per 10 gram in the national capital on Monday, in line with a weak global trend and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 52,749 per 10 gram. Silver prices also declined Rs 945 to Rs 68,289 per kilogram from Rs 69,234 per kilogram in the previous trade. Meanwhile, the rupee strengthened 7 paise and closed at 73.38 (provisional) against the US dollar on Monday, even as domestic equities plunged. In the global market, gold was trading lower at USD 1,940 per ounce, while silver was quoting flat at USD 26.50 per ounce. "Gold prices traded under pressure on dollar recovery," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Barclays Commodities Research on Monday raised its oil price forecasts for 2020, citing limited potential downside to its demand outlook. The bank raised its 2020 Brent and U.S. West Texas Intermediate (WTI) price forecasts by $2 to $43 per barrel and $39, respectively. For 2021, the bank expects Brent and WTI prices to average $53 and $50 per barrel, respectively. "We remain constructive on oil prices for next year as we see limited potential downside to our demand outlook, primarily due to the evolving response function of governments as well as the general public towards the virus threat and continued OPEC+ restraint," Barclays said. Last week, OPEC and its allies said the group would take action on members that are not complying with deep output cuts to support the market following a coronavirus-led slump in fuel demand. The Organization of the Petroleum Exporting Countries (OPEC) and other producers, such as Russia, are cutting output to the tune of 7.7 million...

NEW DELHI: Most commodity futures were trading with cuts on Monday as another wave of Covid-19 infections in European cities that led to increased restrictions took a toll on sentiments. Gold was down 0.20 per cent while silver slipped 0.27 per cent. Base metals were mixed with nickel and copper rising while the rest traded in the red. Crude oil was up 0.83 per cent and its peer natural gas was down 1.33 per cent. NCDEX Agridex, an agricultural futures index that tracks the performance of the ten liquid commodities, was up 0.40 per cent or 4.55 points at 1,149.50 led by gains in castor seed and chana. Here is how SMC Global expects commodities to fare today: Bullion: Bullion counters may post correction from higher levels where gold may test Rs 50,800 and face resistance near Rs 52,100 while silver may test Rs 66,980 and face resistance near Rs 68,400. Base metals: Base metals may trade with a bullish bias where copper can move towards Rs 540 and take support near Rs 531....

KUALA LUMPUR: Malaysian palm oil futures inched up on Monday, rising for a fifth straight session tracking stronger Dalian oils and higher September exports so far. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange gained 0.26% to 3,088 ringgit a tonne by 0231 GMT, its highest level since Jan. 13. Palm gained 9.6% last week and logged its sharpest weekly rise in five years, as China increased purchases ahead of a week-long holiday starting Oct. 1. FUNDAMENTALS Exports of Malaysian palm oil products for Sept. 1-20 rose 9.4% to 1,035,041 tonnes from the month before, cargo surveyor Intertek Testing Services said on Sunday. Indonesia, the world's top palm oil producer, exported 3.13 million tonnes of palm oil in July, including refined products, the Indonesian Palm Oil Association (GAPKI) said on Sunday. Dalian's most-active soyoil contract rose 1.98%, while its palm oil contract gained 2.27%. Soyoil prices on the Chicago...

Gold prices rose Rs 224 to Rs 52,672 per 10 grams in the national capital on Friday in line with strong international prices of the precious metal, according to HDFC Securities. Silver also went up by Rs 620 to Rs 69,841 per kg.

Fed policymakers on Friday began fleshing out what their new tolerance for inflation will mean in practice, an issue critical to how investors and households reshape their own outlooks even if it may not be relevant to any immediate decisions by the U.S. central bank.

Oil and gas producers had been restarting their offshore operations over the weekend after being disrupted by Sally. Some 17% of U.S. Gulf of Mexico offshore oil production and nearly 13% of natural gas output was offline on Saturday from Hurricane Sally's waves and winds.

Brent fell 15 cents to settle at $43.15 a barrel, but rose 8.3% for the week. U.S. oil futures rose 14 cents to settle at $41.11 a barrel, and gained 10.1% for the week.

Gold prices gained on Friday buoyed by a weaker dollar and lingering concerns over an economic recovery from the damage inflicted by the coronavirus pandemic that were underscored by elevated weekly U.S. jobless claims data. Spot gold climbed 0.6% to $1,953.80 per ounce by 0934 GMT and was on track for a second straight week of gains, rising 0.7% so far. U.S. gold futures were up 0.7% at $1,963.60 per ounce. Gold is being propped up by the weaker dollar, but prices are likely to remain "in a lateral range between $1860 and $2000," said ActivTrades chief analyst Carlo Alberto De Casa. "The scenario remains unchanged with the main trend still positive." U.S. weekly jobless claims report on Thursday showed a smaller-then expected decline in new claims, weighing on the dollar and bolstering the appeal of gold as an investment alternative.

Gold jewelers in India pinned hopes on an upcoming festival season, with dealers offering discounts for a fifth straight week to lure customers back to shops, as activity remained muted in Asian bullion hubs. In India, discounts eased to $23 an ounce over official domestic prices, inclusive of 12.5% import and 3% sales levies, from last week's $30. "Festival season is approaching. If prices remain stable, demand could start improving in coming weeks," said Mukesh Kothari, director at Mumbai-based dealer RiddiSiddhi Bullions. On Friday, domestic gold futures prices were around 51,500 rupees per 10 grams, on track for a 0.5% gain for the week. Jewelers are waiting for a clear price trend and could start building inventory early next month for festivals, said a Mumbai-based dealer with a bullion importing bank. In China, discounts eased slightly to $44-$48 an ounce from last week's $45-$50, with most purchases coming only from the investment side.