Page 114 - Commodity News

Gas and food prices likely kept US inflation rate painfully high in May

The costs of gas, food and other necessities likely shot up in May, giving Americans no respite from the worst outbreak of inflation in four decades.

Gold investors cautious ahead of US inflation driving Fed Reserve policy

Gold Investors are looking cautiously into the US inflation data which will impact the US federal reserve's policy coming in soon

MSP policy for crops has little impact on 'meaningful procurement': Report

If the very low extent of procurement under the MSP is any indication, the very scheme is inefficient, given the low intake and massive price differences between the support and market prices

Gold subdued as US Treasury yields stay firm; ECB, Fed verdict in focus

Spot gold was down 0.3% at $1,847.90 per ounce as of 0956 GMT and US gold futures had declined 0.3% to $1,850.50.

Gold opens higher, up by Rs 110 in early trade; silver at Rs 62,100/kg

The price of 10 gram of 24 carat gold in Delhi, Mumbai, Bangalore, Hyderabad, and Kolkata is Rs 52,040 for the day

India's coal production rises 34% YoY to 71.3 mn tonnes in May

The country's coal production registered a rise of 33.88 per cent to 71.30 million tonnes (MT) in the month of May.

Use of 10% ethanol-blended petrol saved over Rs 41,000 cr forex: Minister

Use of 10% ethanol-blended petrol has led to a saving of over Rs 41,000 cr in the foreign exchange for the country, minister of state for environment, forest and climate change Choubey said .

India's sugar exports at record 8.6 mn tonnes till May this year, says ISMA

Sugar exports from India, the world's largest producer of the sweetener, touched a record 8.6 million tonne till May of the ongoing 2021-22 year, said the latest data by industry body ISMA.

Oil prices rise despite US inventory hike as China eases Covid lockdowns

Oil prices have risen backing on Chinese expectations as it unlocks cities. Even though US inventory hikes, oil prices rose parallely, possibly due to a strike by Norwegian workers.

Gold opens weak, down by Rs 10 in early trade; silver at Rs 62,100/kg

Gold on Wednesday opened Rs 10 down from previous day's closing rate with 10 gram of 24-carat of the precious metal trading at Rs 51,920

Gold prices in check as major central banks rev up policy tightening

The Federal Reserve is on track for half-point interest rate increases in June and July, and last week's solid jobs report boosted expectations of continued tightening by the US central bank.

Gold up by Rs 10/10 gm, silver unchanged as investors weigh on rate hike

10 gram of 24-carat of gold is trading at Rs 52,210, while 22-carat gold is selling at Rs 47,860

Gold imports surge multifold ahead of key festivals, wedding season

In value terms, May imports surged to $5.83 billion from $678 million a year ago

Gold firms below recent highs as rate-hike by world central banks weigh

Spot gold was up 0.1% at $1,851.98 per ounce, as of 0752 GMT, while US gold futures rose 0.2% to $1,854.60.

Gold prices down by Rs 10 on RBI rate hike fears, silver remains unchanged

Gold prices remained vulnerable to the expected rate hike by the Central Bank as the monetary policy committee review is due this week

Selling pressure on metal and mining stocks likely to persist: Analysts

The sell-off has been triggered by the central government's decision to impose export duty on steel in a bid to thaw domestic prices

India turns 10% of its petrol green; targets to double it by 2025-26

India has achieved the target of supplying 10 per cent ethanol-blended petrol ahead of schedule and is aiming to double blend by 2025-26 in order to cut oil import dependence

Oil settles up despite OPEC-plus output hike plan; supply still tight

US crude notched a sixth weekly gain on tight U.S. supply, which has prompted talk of fuel export curbs or a windfall tax on oil and gas producers.

Axis Bank expects repo rate to rise to 5.75% by end of this fiscal

With inflation remaining at elevated levels, RBI may gradually increase the benchmark lending rate to about 5.75% by the end of this fiscal, Axis Bank chief economist Saugata Bhattacharya said

African cocoa giants make new move in spat with chocolate sector

For now, it looks like the cocoa-growing giants will continue to struggle to receive the full combined premiums