The NSE to levy 15% additional margin on equity derivatives in which top 10 clients account for more than 20% MWPL from March F&O series onwards; withdraws additional margin on Gold, Silver futures.
Since oil and gas prices did not join other commodities in their run up in the last few months, analysts believe they are likely to remain sideways at best, unless geopolitical events trigger a rally
Commodity rout: Precious metals - Gold, Silver, Platinum have cracked up to 47.5%; base metals - aluminium, copper, zinc, lead and nickel - plunged up to 18% in global markets from January 29 highs.
Silver, on the other hand, UBS said, is likely to remain volatile going ahead in the backdrop of the sharp run seen in the last few months and the ensuing correction seen in the white metal recently.
Goldman Sachs said on Wednesday that it saw significant upside risk to its $5,400 year-end forecast for gold on central banks maintaining their recent pace of accumulation
At current levels, MCX Gold prices have retraced up to 38.2 per cent, and Silver up to 50 per cent, highlights Aamir Makda Commodity & Currency Analyst of Choice Broking.
In the global market, spot gold and silver prices were lower by 6 per cent and 11.8 per cent, respectively. From their record highs, gold and silver are down 13.5 per cent and 32 per cent
