Page 191 - Commodity News

Gold price today: Rs 46,290 per 10 gm; silver at Rs 47,000 per kg

The gold price today for 24-carat gold in New Delhi is Rs 47,810 per 10 gram

Sovereign gold bond sale in May at Rs 1,168 cr, highest since launch

Record sale by value attributable to the high price of the metal in Indian markets.

Exchanges report 38% decline in daily average commodity volumes in May

Lockdown, negative price fiasco at MCX among slew factors cited as reasons for decline

Gold price today: Rs 46,799 per 10 gm; silver at Rs 48,000 per kg

The gold jewellery prices vary across India - the second largest consumer of the metal - due to excise duty, state taxes and making charges

Importers cite masoor and tur shortage, want duty on inward shipments eased

While processing units continued to operate at less than 30-40% capacity, transportation of pulses was impacted, spiking retail prices even as wholesale prices remained subdued

IIT Madras develops light-weight alloy to replace steel, aluminium in cars

There has been a lot of focus on lowering carbon footprint of vehicles by using light-weight material in their bodies, as lighter vehicles consumer less fuel

Oil climbs as suppliers stick to output cuts, coronavirus lockdowns ease

OPEC+ countries are set to meet again in early June to discuss maintaining their supply cuts to shore up prices, which are still down around 45% since the start of the year

Govt asks RBI to remove sugar from negative list as virus hits consumption

Such a move would spur infusion of fresh liquidity and working capital in sugar mills, facilitating speedy settlement of cane arrears

Experts urge govt to lock in crude oil purchases as prices start rising

They suggest it is time the govt chipped in as a sovereign oil hedger, perhaps by taking hedging as a Cabinet decision

NCDEX launches agriculture index futures, trading to start on Tuesday

Agridex represents produce grown in India and is not linked to any external benchmark; it will be available initially for trading of contracts expiring in June, July, September and December

Boost for zero-emission sources as global capital backs Indian solar power

The tumbling tariffs of solar power, however, have slashed the expectations of returns by investors from 14 per cent to 12 per cent

India's April crude processing sees biggest drop in nearly two decades

Refiners processed about 14.75 million tonnes or 3.60 million barrels per day (bpd) of oil last month, government data showed

Wheat procurement surpasses last year's level of 34.1 MT despite hurdles

Wheat procurement target has been set at 40.7 million tonnes (MT) for the 2020-21 marketing year

Brent surges 9.6% in a week on demand recovery hopes, base metals shine

Huge stimulus provided by economies across the globe is likely to put more money in consumer's hands, due to which gold and silver prices may spurt further

Buyers dump veg mandi despite healthy arrivals as farmers sell directly

Covid spread has taught farmers to ditch middleman and start their own group to conduct farm-to-kitchen sales, under which both consumer and cultivator gain

Gold to silver ratio hints the white metal will outperform the yellow one

Stress ratio, a barometer for economy, also indicates tension ahead

Sellers beware: Price collapse triggers bartering over oil and gas deals

Premier Oil's CEO said he is seeking a cheaper price for North Sea assets it agreed to buy from BP for $625 million and Energean is doing the same with a $700 million purchase from Edison

Gold snaps seven-day rising streak, sheds 2.2% on profit booking

Appreciation of rupee versus dollar also helped gold price fall. But outlook remains bullish as metal continues to have safe haven appeal

Gold up 1.7% in Mumbai as north India opens up its jewellery stores

Retailes in Delhi NCR fix non-hallmarked buying price at Rs 36,000 per 10 grams

Brent hits 1-month high, US crude tops $31 on output cuts, easing curbs

US West Texas Intermediate (WTI) crude was up $2.46 or 8.4% at $31.89 per barrel, its highest since mid-March