Page 107 - Commodity News
Gold rises as dollar retreats; traders focus on Fed rate-hike path
Spot gold rose 0.7% to $1,719.49 per ounce by 0724 GMT, after falling to its lowest in nearly a year last week. U.S. gold futures gained 0.6% to $1,714.30.
 "Gold rises as dollar retreats; traders focus on Fed rate-hike path")
Oil jumps 2% as soft dollar and tight supply offset recession concerns
Brent crude futures for September settlement rose $2.44, or 2.4%, to $103.60 a barrel by 0900 GMT, having advanced by 2.1% on Friday.
 "Oil jumps 2% as soft dollar and tight supply offset recession concerns")
Gold prices see marginal fall of Rs 10 in early trade; Silver unchanged
In Delhi, Mumbai, and Kolkata, 10 gram of 24-carat gold is selling at Rs 50,390. Whereas, 10 gram of 22-carat gold is selling at Rs 46,190.
 "Gold prices see marginal fall of Rs 10 in early trade; Silver unchanged")
Tea producers reinvent business, adapt online blend for consumer connect
Data available on the Tea Board website showed that India's production in 2020-2021 had stood at 1,283.03 million kg and volumes at the auctions were around 547 mkg
 "Tea producers reinvent business, adapt online blend for consumer connect")
AC sales touch record 6 mn units in first half of 2022 amid scorching heat
Air conditioner demand has witnessed a sharp uptick and the industry has registered a cumulative record domestic sales of nearly 6 million units in the first half of this year.
 "AC sales touch record 6 mn units in first half of 2022 amid scorching heat")
Gold, silver prices fall; yellow metal trading at Rs 50,730 per 10 gram
Silver prices too suffered losses in trade. 1 kg of silver is currently trading at Rs 55,000 after witnessing a fall of Rs 2,000 as compared to previous day's rate
 "Gold, silver prices fall; yellow metal trading at Rs 50,730 per 10 gram")
Unsafe haven: Gold set for fifth weekly loss as US dollar strengthens
Spot gold was down 0.3% at $1,704.99 per ounce, as of 0916 GMT, and lost 2.2% so far this week. U.S. gold futures eased 0.2% to $1,701.90.
Crude oil prices up 2.5% as no immediate Saudi output boost expected
The comment during U.S. President Joe Biden's Middle East visit comes at a time when spare capacity at members of the Organization of the Petroleum Exporting Countries (OPEC) is running low.
 "Crude oil prices up 2.5% as no immediate Saudi output boost expected")
Need advanced tech, innovative agronomy to enhance cotton production: Goyal
Union minister Piyush Goyal emphasised the need to introduce "advanced technologies and innovative agronomy" to enhance the productivity of cotton.
 "Need advanced tech, innovative agronomy to enhance cotton production: Goyal")
Coal Secretary stresses on need to increase production of dry-fuel
Jain said NCL is eager to promote sustainable coal mining which is getting reflected in the recent initiatives by the coal miniratna, the coal ministry said in a statement.
 "Coal Secretary stresses on need to increase production of dry-fuel")
Silver futures drops by Rs 346 to Rs 54,689 per kg as participants cut bets
On the Multi Commodity Exchange, silver contracts for September delivery declined by Rs 346 or 0.63 per cent to Rs 54,689 per kg in a business turnover of 24,509 lots.
 "Silver futures drops by Rs 346 to Rs 54,689 per kg as participants cut bets")
Gold, silver rates rise in early trade; yellow metal at Rs 51,160 per 10 gm
Gold became dearer by Rs 210 in Friday's early trade as 10 gram of 24-carat of yellow metal is currently trading at Rs 51,160
 "Gold, silver rates rise in early trade; yellow metal at Rs 51,160 per 10 gm")
Wheat stock in central pool close to minimum threshold amid low procurement
Grain inventory in central pool, as on July 1, 2022, lowest since 2019
 "Wheat stock in central pool close to minimum threshold amid low procurement")
Gold sheds over 2%, silver 5% on rampant dollar as Fed rate hike looms
By Ashitha Shivaprasad
 "Oil prices tumble more than $2 ahead of potential large US rate hike")
Gold price falls as firm US dollar, yields compound rate-hike woes
Gold prices took a hit as dollar rates hike amid US inflation data
Oil prices fall ahead of potential large US rate hike, possible inflation
Brent crude futures for September were down 18 cents to $99.39 a barrel at 0727 GMT after settling below $100 for the second straight session on Wednesday
 "Oil prices fall ahead of potential large US rate hike, possible inflation")
Gold, silver prices down; yellow metal trading at Rs 50,950 per 10 gram
The price of silver fell by Rs 6,100 per kg from the previous day's closing price, with the metal selling at Rs 56,400 on Thursday
 "Gold, silver prices down; yellow metal trading at Rs 50,950 per 10 gram")
Gold rebounds sharply from 1-year low as dollar slips over US' inflation
Gold has recovered from a nearly 1-year dip with gold futures rising by 0.7% as the US dollar slips over inflation fears
Oil slips below $100 again as gasoline, food drive US inflation higher
Despite a tight physical oil market, investors have sold oil futures on worries that aggressive rate hikes to stem inflation will slow economic growth and hit oil demand.