NEW DELHI: Crude oil prices rose Rs 26 to Rs 5,148 per barrel on Friday, as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the August delivery traded higher by Rs 26, or 0.51 per cent, to Rs 5,148 per barrel in 6,159 lots. Analysts said raising of bets by participants kept crude oil prices higher in the futures trade. Globally, West Texas Intermediate crude oil traded higher by 0.35 per cent to USD 69.33 per barrel, while Brent crude traded 0.48 per cent up at USD 71.63 per barrel in New York.

On the Multi Commodity Exchange, copper contracts for delivery in August traded higher by Rs 7.35, or 1 per cent, to Rs 738.80 per kg in a business turnover of 4,333 lots.

On the National Commodity and Derivatives Exchange, refined soya oil for delivery in August declined by Rs 7.4 or 0.53 per cent, to Rs 1,399 per 10 kg in 22,245 lots.

On the National Commodity and Derivatives Exchange, guar gum contracts for August delivery traded higher 2.56 per cent, or Rs 190 to Rs 7,625 per five quintal with an open interest of 12,910 lots.

Gold futures on MCX were down 0.22 per cent or Rs 105 at Rs 47,498 per 10 grams. Silver futures traded 0.39 per cent or Rs 258 lower at Rs 66,740 per kg.

On the Multi Commodity Exchange, copper contracts for the August delivery eased by Rs 2.75, or 0.38 per cent, to Rs 726.60 per kg in a business turnover of 5,085 lots.

On the National Commodity and Derivatives Exchange, refined soya oil for August delivery moved up by Rs 3.9, or 0.29 per cent, to Rs 1,401.5 per 10 kg in 22,995 lots.

On the National Commodity and Derivatives Exchange, guar seed contracts for August delivery was trading at Rs 4,629 down by Rs 61, or 1.3 per cent per 10 quintal with an open interest of 25,915 lots.

On the National Commodity and Derivatives Exchange, coriander for August delivery went up Rs 332, or 4.66 per cent, to Rs 7,450 per quintal with an open interest of 3,510 lots.

For the first time in a decade, China has released some of its strategic metal stocks to try to dampen a price rally hurting manufacturers. It has also released coal and imported corn reserves to cool prices, while buying pork to prop up that market. China is the world's largest user of commodities and has built up vast reserves. The following are details of key commodities and estimates and assessments of strategic reserve levels: MetalsBased on past stockpiling activity, analysts estimate China's strategic reserves hold 1.5 million to 2 million tonnes of copper, 800,000-900,000 tonnes of aluminium and 250,000-400,000 tonnes of zinc. The reserves administration also stockpiles key battery metal cobalt, of which industry sources estimate China is holding some 7,000 tonnes. It also keeps nickel and other metals including antimony, indium, germanium and molybdenum oxide. It is not thought to hold any tin or lead, according to The International Tin Association and...

Gold futures on MCX were down 0.09 per cent, or Rs 45, at Rs 47,847 per 10 grams. Silver futures traded 0.25 per cent, or Rs 171 lower, at Rs 67,430 per kg.

Brent crude oil futures rose by 14 cents, or 0.2%, to $70.52 a barrel by 0132 GMT, while US West Texas Intermediate (WTI) crude futures increased by 18 cents, or 0.3%, to $68.33 a barrel. Both benchmarks fell by more than $2 a barrel on Wednesday.

New Delhi: Gold in the national capital on Wednesday rose by Rs 123 to Rs 46,992 per 10 gram amid gains in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,869 per 10 grams. Silver also zoomed Rs 766 to Rs 66,926 per kilogram from Rs 66,160 per kilogram in the previous trade. "Spot gold prices for 24 carats in Delhi rose by Rs 123 with recovery in COMEX gold prices," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

On the Multi Commodity Exchange, copper contracts for the August delivery eased by Rs 1.85, or 0.25 per cent, to Rs 734.84 per kg in a business turnover of 4,823 lots.

On the National Commodity and Derivatives Exchange, soybean for August delivery rose by Rs 125, or 1.31 per cent, to Rs 9,670 per quintal with an open interest of 13,575 lots.

On the National Commodity and Derivatives Exchange, guar gum contracts for August delivery traded higher 3.25 per cent, or Rs 244, to Rs 7,440 per five quintal with an open interest of 18,830 lots.

SHANGHAI: A slew of measures by Chinese authorities to tame soaring raw material costs has had only a fleeting effect, leaving the world's largest manufacturing base facing the harsh reality of substantially higher input costs for the foreseeable future. China's enormous manufacturing industry, population and fast-growing economy mean it has uniquely large commodity requirements that substantially exceed domestic output. The recent boom in the price of everything from copper to coal has pushed the country's producer prices up by the most since 2008 and dragged on its recovery from the coronavirus pandemic. With major economies in Europe and North America also cranking up again after coronavirus lockdowns, competition for raw materials is only expected to intensify, limiting the near-term downside for prices. "Recent steps by Chinese authorities have succeeded in skimming some froth off commodity prices," said Frederic Neumann, co-head of Asian Economics at HSBC....

Gold Oct is stuck in a consolidation pattern ahead of this week’s US jobs data. Gold witnessed a decline towards the lower end of the consolidation range on Tuesday. The immediate support is seen near its 50-day EMA at Rs 47,680, followed by Rs 47,450. Resistance exists around Rs 48,150, followed by Rs 48,500. The momentum indicator RSI is hovering around 50 (52), suggesting a sideways trend. So for the day, the price is expected to remain in the range of Rs 47,680-Rs 48,150 with a sideways bias. Only a close below Rs 47,680 would extend the weakness and price would slip towards Rs 47,450. Trading Range: Rs 47,680-48,150 MCX SILVER Sep futures moved sideways on Tuesday, consolidating in the middle of last week’s range. The price is now hovering near its key resistance zone of Rs 68,500, a move above would confirm the reversal in price trend for a rally towards Rs 68,900. Meanwhile, the strength index (RSI) is hovering near 50 (48), suggesting a sideways trend. A sustained move...

In the spot market, highest purity gold was sold at Rs 48,017 per 10 gram while silver was priced at Rs 67,752 per kg on Thursday, according to the Indian Bullion and Jewellers Association.

SINGAPORE: Oil prices fell for a third day on Wednesday on mounting concerns that the increasing spread of the Delta variant of the coronavirus in top consuming countries will cut fuel demand. Brent crude oil futures slid 22 cents, or 0.3%, to $72.19 a barrel, as of 0129 GMT. U.S. West Texas Intermediate (WTI) crude fell 33 cents, or 0.5%, to $70.23 a barrel. Both futures fell on Tuesday to their lowest since July 21 before regaining some ground by the close. The United States and China, the world's two biggest oil consumers, are grappling with rapidly spreading outbreaks of the highly contagious Delta variant that analysts fear will limit fuel demand at a time when it traditionally rises in both countries. "Seasonal weakness in economic activity amid rising cases of the Delta variant continue to weigh on sentiment," ANZ said in a note. "Nearly half of China's provinces have been being gripped by the latest outbreak. This comes as the summer travel season hits its peak. This...

New Delhi: Gold prices in the national capital dipped marginally by Rs 31 to Rs 46,891 per 10 grams on Tuesday, in line with weak global trends and on rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,922 per 10 grams. Silver also tumbled Rs 372 to Rs 66,072 per kg, from Rs 66,444 per kg in the previous trade. The Indian rupee opened on a flat note and inched 4 paise higher to 74.30 against the US dollar in early trade on Tuesday. "Spot gold prices for 24 carat in Delhi fell by Rs 31 in line with weak COMEX (New York-based commodity exchange) gold prices and rupee appreciation," according to HDFC Securities Senior Analyst (Commodities) Tapan Patel.