NEW DELHI: Crude oil prices rose Rs 21 to Rs 5,319 per barrel on Tuesday, 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 21, or 0.4 per cent, to Rs 5,319 per barrel in 5,309 lots. Analysts said raising of bets by participants kept crude oil prices higher in the futures trade. Globally, West Texas Intermediate crude oil traded lower by 0.38 per cent to USD 71.53 per barrel, while Brent crude traded 0.40 per cent up at USD 73.18 per barrel in New York.

On the Multi Commodity Exchange, nickel contracts for the August delivery traded lower by Rs 19.60, or 1.33 per cent, to Rs 1,458.80 per kg with a business turnover of 1,836 lots.

??On the National Commodity and Derivatives Exchange, soybean contracts for August delivery fell Rs 28, or 0.29 per cent, to Rs 9,500 per quintal with an open interest of 14,105 lots.

After selling a significant minority stake in its oil pipelines to foreign investors for $12.4 billion in June, Saudi Aramco is weighing selling both downstream and upstream assets, two people familiar with the matter said.

By Ravindra Rao Gold futures moved sideways on Monday, consolidating at the higher end of the last week’s trading range. For Tuesday, the support is seen near the 8-day EMA at Rs 47,800, followed by Rs 47,600. Resistance for Gold Oct exists around Rs 48,500. Price formed an inside day candle, suggesting a sideways trend. Either side move of the range of Rs 47,800-48,150 would bring more clarity in the trend. Momentum indicator RSI is holding its gain above 50 (55), suggesting sideways to higher trend. So for the day, buying might be seen on dips towards the key support of Rs 47,900. Only a close below Rs 47,600 might reverse the trend sideways to lower. Buy

The demand for physical gold remained subdued in India last week as rising prices discouraged retail purchases. The spot prices of precious metals have been almost flat in the last one month.

Brent crude oil futures rose 24 cents, or 0.3%, to $73.13 a barrel, as of 0125 GMT. US West Texas Intermediate (WTI) crude added 26 cents, or 0.4%, to $71.52 a barrel.

Gold prices were subdued on Tuesday, as the dollar held steady while investors avoided taking big positions ahead of the key U.S. non-farm payroll data due later this week, although growing concerns over rising coronavirus cases limited decline. Spot gold fell 0.2% to $1,810.56 per ounce by 0121 GMT, while U.S. gold futures fell 0.5% to $1,813.80. U.S. Federal Reserve Governor Christopher Waller on Monday said the central bank could start to reduce its support for the economy by October if the next two monthly jobs reports each show employment rising by 800,000 to 1 million, as he expects. U.S. manufacturing activity grew at a slower pace in July for the second straight month as raw material shortages persisted, though there are signs of some easing in supply-chain bottlenecks. The dollar was on the back foot against the safe-haven yen and Swiss franc following soft U.S. manufacturing data and rising concerns about the coronavirus Delta variant. The U.S. states of Florida and...

New Delhi: Gold in the national capital on Monday dipped Rs 124 to Rs 46,917 per 10 gram amid a decline in international precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,041 per 10 grams. Silver went marginally lower by Rs 18 to Rs 66,473 per kilogram from Rs 66,491 per kilogram in the previous trade. "Spot gold prices for 24 carats in Delhi fell by Rs 124 with a decline in COMEX gold prices and rupee appreciation," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel. The Indian rupee gained 9 paise and touched 74.33 against the US dollar in early trade on Monday.

On the Multi Commodity Exchange, crude oil for the August delivery dropped by Rs 69, or 1.25 per cent, to Rs 5,448 per barrel with a business volume of 6,699 lots.

On the Multi Commodity Exchange, copper contracts for delivery in August traded higher by Rs 2.85, or 0.38 per cent, to Rs 754.55 per kg in a business turnover of 4,203 lots.

By Ravindra Rao Gold futures moved higher after a consolidation break in the previous week. But prices failed to breach the key trend line resistance at Rs 48,500 and witnessed a decline on the last trading day of the week, suggesting a strong comeback by the bears. On the downside, strong support is seen at around Rs 47,800 (200-day EMA), followed by Rs 47,500. Momentum indicator RSI has moved back towards 50 (51) as it failed to hold its gains near 60, suggesting the sideways trend. The medium-term momentum has turned positive as MACD generated a crossover buy signal. So for the day, buying might be seen on dips towards the key support of Rs 47,800. Only a close below Rs 47,500 might reverse the trend sideways to lower. Trading Strategy: Buy MCX Gold Oct at Rs 47,800. Target Price: Rs 48,400. Stop loss: Rs 47,500 MCX SILVER Sep futures has clearly turned around quite drastically during last week as price held the key support of the rising trend line near Rs 66,000. Now the...

NEW DELHI: Gold prices edged lower in domestic markets on Monday, following global market cues. The dollar held steady, pushing the yellow metal trade in red. Gold futures on MCX were down merely 0.10 per cent, or Rs 47, at Rs 47,954 per 10 gram. Silver futures traded marginally up 0.03 per cent, or Rs 23, at 67, 870 per kg. Ravindra Rao of Kotak Securities said that gold is pressurized by some recovery in the US dollar index from recent lows on the back of upbeat economic data. However, supporting the gold price is Fed’s less hawkish stance, increasing concerns about China and rising virus cases. "ETF investors moved to sidelines after brief inflows last week. Gold has come under pressure after failing to break past recent highs and while choppy trade is likely, prices may remain supported by increasing economic uncertainty and Fed's less hawkish stance," he added. The demand for physical gold remained subdued in India last week as rising prices discouraged retail purchases....

Gold prices edged lower on Monday as the dollar held steady, with traders eyeing monthly US jobs data to gauge the health of the labour market. FUNDAMENTALSSpot gold fell 0.2% to $1,809.21 per ounce by 0137 GMT. Prices retreated from a two-week peak in the previous session after the dollar recovered. However, the greenback was down 0.8% last week, its worst weekly performance in over two months. US gold futures fell 0.1% to $1,814.90. The Federal Reserve should start reducing its $120 billion in monthly bond purchases this fall and cut them "fairly rapidly" so the program ends in the first months of 2022 and paves the way for an interest rate increase that year if needed, St. Louis Fed president James Bullard said on Friday. Bullard's comments came after Chair Jerome Powell's reassurance that a rate hike was not on the cards for the time being.

Brent crude oil futures skidded $1.12, or 1.5%, to $74.29 a barrel by 0156 GMT while U.S. West Texas Intermediate (WTI) crude futures dropped 97 cents, or 1.3%, to $72.98 a barrel after slipping to a session low of $72.87.

The precious metals halted their decline on Wednesday as the gold price rebounded after falling to a two-month low on Tuesday. Bullion prices witnessed selling due to dollar rally on expectations of early tapering by Fed.

Three-month copper on the London Metal Exchange rose 0.4% to $9,375 a tonne by 0342 GMT and was up 6.7% for the quarter. It has lost 8.6% so far in June, on track for its first monthly fall in three.

Gold futures on MCX were up merely 0.06 per cent, or Rs 28, at Rs 46,583 per 10 gram. Silver futures gained 0.14 per cent, or Rs 94, to Rs 68,368 per kg.

On the last day of June, Brent is heading for another monthly gain, which would mean the contract has risen for six out of the last seven months. U.S. crude has traded similarly since November.

Gold prices held steady on Wednesday as investors were cautious ahead of U.S. jobs data due later this week, but prices were set to post their worst month since November 2016 on the U.S. Federal Reserve's shift to a hawkish policy stance. Spot gold was steady at $1,761.80 per ounce, as of 1231 GMT. U.S. gold futures fell 0.1% to $1,761.80. For the month, prices were down 7.6%. For the quarter, gold had risen 3.2%. Federal Reserve Governor Christopher Waller on Tuesday said he is "very optimistic" about the economy, and while he declined to say when he thinks the Fed should start raising interest rates, he said it could be next year. U.S. consumer confidence jumped to its highest level in nearly 1-1/2 years in June as growing labour market optimism amid a reopening economy offset concerns about higher inflation. The U.S. Labor Department's nonfarm payrolls data on Friday is expected to show a gain of 690,000 jobs this month, compared with 559,000 in May, according to a Reuters...