Gold prices were steady on Thursday as investors awaited signals on the Federal Reserve's timeline for tapering pandemic-era stimulus measures, after softer-than-expected US inflation data fuelled some uncertainty. FUNDAMENTALS Spot gold was little changed at $1,792.86 per ounce by 0116 GMT. Prices fell 0.6% on Wednesday, its biggest one-day decline in a week as US Treasury yields ticked higher. US gold futures were flat at $1,795.00. The Federal Open Market Committee's two-day policy meeting is due next week and is expected to provide guidance on when the US central bank will start withdrawing its asset purchases.

Metals are a key barometer of any country’s economic growth and countries have taken many measures to facilitate the growth and efficiency of metal markets. While trading volume of commodity derivatives has grown at a rapid pace in India, liquidity has remained largely limited to the near-month contracts. The low volume of the long-term contracts limits their role as an indicator of future prices for a horizon that matters for commercial firms. The low liquidity largely owes to the low rate of participation of entities with long-term trading interests. This needs to be addressed by attracting longer-term players to the domestic market. A study on the base metal markets led to the following observations on the steps needed to improve liquidity and reliability of the longer-maturity base metals futures contracts.

New Delhi: Gold in the national capital on Wednesday jumped Rs 438 to Rs 46,214 per 10 grams reflecting overnight gains in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal closed at Rs 45,776 per 10 grams. Silver also gained Rs 633 to Rs 62,140 per kg, from Rs 61,507 per kg in the previous trade. "Spot gold prices for 24 carats in Delhi surged Rs 438 reflecting overnight gains in COMEX gold prices," said HDFC Securities Senior Analyst (Commodities) Tapan Patel. In the international market, both gold and silver were trading flat at $1,802 per ounce and $23.79 per ounce, respectively.

On the Multi Commodity Exchange, zinc contracts for the September delivery traded higher by Rs 1.35, or 0.54 per cent, to Rs 252.75 per kg with a business turnover of 1,281 lots.

On the National Commodity and Derivatives Exchange, soybean contracts for September delivery fell Rs 67, or 0.78 per cent, to Rs 8,500 per quintal with an open interest of 8,160 lots.

On the National Commodity and Derivatives Exchange, guar seed for September contracts increased by Rs 119, or 1.91 per cent, to Rs 6,356 per 10 quintal with an open interest of 6,345 lots.

On the National Commodity and Derivatives Exchange, coriander for September delivery went up Rs 238, or 3.13 per cent, to Rs 7,840 per quintal with an open interest of 580 lots.

Ravindra Rao MCX Gold futures witnessed a sharp rebound from its support zone at Rs 46,700 following the US CPI report. Gold hit its target resistance of 50-DEMA (Rs 47,300) and closed above the 20-DEMA (Rs 47,140), suggesting a phase of recovery. It has to sustain above the 50-DEMA to extend a rebound towards its next key resistance at Rs 47,600. The key support for price holds around Rs 46,950, followed by Rs 46,620. A reversal in the momentum oscillator RSI (51) has strengthened the bull case. However, it is still hovering near the neutral zone (51), suggesting a sideways price trend. On the other hand, a rebound in fast stochastic from the oversold territory has negated bearish bets. So for the day, the price is expected to move in the range of Rs 46,950-47,600 with a sideways bias. Only a close above Rs 47,600 would extend the rebound towards the next key resistance at Rs 47,750. Trading Range: Buy MCX Gold Oct at Rs 47,100. Target price: Rs 47,480. Stop loss: Rs 46,900 ...

In the spot market, highest purity gold was sold at Rs 47,017 per 10 gram while silver was priced at Rs 62,806 per kg on Tuesday, according to the Indian Bullion and Jewellers Association.

Brent crude oil rose 39 cents, or 0.5%, to $73.99 a barrel by 0133 GMT, while US West Texas Intermediate (WTI) crude climbed 44 cents, or 0.5%, to $70.90 a barrel.

Gold prices held above the key psychological level of $1,800 as the dollar and bond yields came under pressure after a tamer-than-expected rise in US inflation led to uncertainty on when the US central bank will begin tapering its asset purchases. FUNDAMENTALSSpot gold was steady at $1,802.86 per ounce, as of 0120 GMT on Wednesday, having hit a one-week peak of $1,808.50 in the previous session. US gold futures eased 0.2% to $1,803.80. Consumer Price Index (CPI) was up just 0.1% last month, compared with an expected increase of 0.3%. That was the smallest gain in six months suggesting that inflation had probably peaked, though it could remain high for a while amid persistent supply constraints. The data has thrown a shade of uncertainty over the Federal Reserve's taper timeline. The Fed will hold a two-day monetary policy meeting next week. The CPI data weighed on the dollar index, while the benchmark US 10-year yield hit its lowest reading since Aug. 24.

Kolkata: The National Commodity and Derivatives Exchange (NCDEX) has posted 115% rise in the average daily turnover value (ADTV) of Rs 2,444 crore in August 2021 despite restrictions on chana futures, one of its key liquid contracts in the pulses segment, a media release issued by the exchange said. It also added that exchange has consolidated further its leadership position by garnering 85 per cent share in the country’s agri-derivatives segment during the month as compared to 80 per cent in August 2020. “Like all efficient derivative platforms, our volumes too are a reflection of the uncertainties and volatility in physical commodity markets in the world. The weather adversities in India in August accentuated the need of price risk management leading to an all-round increase in the participation in agri-derivatives across the segments,” said Arun Raste, Managing Director and Chief Executive Officer, NCDEX. “We witnessed the successful launch of two sectoral agri indices...

New Delhi: Gold in the national capital on Thursday dipped Rs 265 to Rs 46,149 per 10 grams, in line with a fall in international precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, gold closed at Rs 46,414 per 10 grams. Silver also tumbled Rs 323 to Rs 61,653 per kg, from Rs 61,976 per kg in the previous trade. The rupee appreciated 13 paise to 74.11 against the dollar in the opening trade on Thursday. In the international market, gold was trading lower at USD 1,785 per ounce and silver also dipped marginally to USD 23.65 per ounce. "Gold prices traded lower with spot gold prices at COMEX (New York-based commodities exchange) trading 0.30 per cent down near USD 1,794 per ounce on Thursday.

Gold futures moved lower on Wednesday as price resisted to move beyond its 200-day EMA at Rs 47,600. Gold price inched close to its key support zone at Rs 47,020-47,000 after breaching the intermediate support of 20-day EMA at Rs 47,240. It is expected to consolidate in the broad range of Rs 47,000-47,750 ahead of Fed comments at Jackson Hole Symposium. If gold moves below the lower band of the range, then it would move down towards Rs 46,750-46,600 zone. On the momentum front, RSI is hovering around the neutral zone (50) at 49, suggesting a sideways trend. So for the day, the price is expected to move in the range of Rs 47,000-47,750 with a sideways bias. Only a close above Rs 47,750 would bring fresh buying interest in gold futures. Trading Range: Rs 47,000-47,750 MCX Silver futures moved in a narrow range on Wednesday. For now the 20-day EMA (Rs 64,200) would be the key resistance, a break above which would attract buyers. On the lower front, Rs 62,600 and Rs 62,100 hold...

Gold futures on MCX were up merely 0.04 per cent, or Rs 17, at Rs 47,196 per 10 gram. Silver futures declined 0.16 per cent, or Rs 105, at Rs 63,851 per kg.

Brent crude was down 45 cents, or 0.6%, at $71.80 a barrel by 0222 GMT, having risen 1.7% on Wednesday. US oil was down 55 cents, or 0.8%, at $67.81 a barrel, after gaining 1.2% in the previous session.

Gold prices were flat on Thursday as investors turned cautious ahead of US Federal Reserve Chair Jerome Powell's speech this week, which could provide cues to the central bank's tapering of economic stimulus. FUNDAMENTALSSpot gold was flat at $1,790.63 per ounce by 0037 GMT. Prices fell 0.7% in the previous session, its biggest one-day decline in more than two weeks. US gold futures rose 0.1% to $1,793.00. The

New Delhi: National Stock Exchange (NSE) has directed its members, including stockbrokers, to discontinue the sale of digital gold on their platforms by September 10. The direction came after capital markets regulator Sebi said that certain members are providing a platform to their clients for buying and selling digital gold. Securities and Exchange Board of India (Sebi), through a letter dated August 3, informed the exchange that the said activity is in contravention of Securities Contracts (Regulation) Rules (SCRR), 1957, and the members should refrain from undertaking any such activities. The SCRR rules restrict all members from engaging, either as principal or employee, in any business, other than that of securities or commodity derivatives, except as a broker or agent, not involving any personal financial liability. Accordingly, NSE directed members not to carry out such activity and comply with the regulatory requirements at all times. "Members, currently engaging in...

prices on Wednesday fell Rs 5 to Rs 5,016 per barrel after participants cut their positions. On the Multi Commodity Exchange, crude oil for August dropped by Rs 5, or 0.1 per cent, to Rs 5,016 per barrel with a business volume of 5,133 lots. Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid a weak spot demand. Globally, West Texas Intermediate crude oil was trading 0.25 per cent lower at USD 67.37 per barrel. Meanwhile, Brent crude, the international benchmark, fell 0.14 per cent to trade at USD 70.95 per barrel in New York.

On the Multi Commodity Exchange, copper contracts for delivery in September traded higher by Rs 3.70, or 0.52 per cent, to Rs 720.30 per kg in a business turnover of 3,928 lots.

On the National Commodity and Derivatives Exchange, soybean contracts for September delivery fell Rs 522, or 5.99 per cent, to Rs 8,191 per quintal with an open interest of 20,425 lots.

On the National Commodity and Derivatives Exchange, guar seed for September contracts increased by Rs 362, or 5.99 per cent, to Rs 6,410 per 10 quintal with an open interest of 61,780 lots.