Page 193 - Commodity News

Commodity picks: 4 May, 2020

For the month ahead mustard prices are expected to head towards Rs 4,400

Govt posts third-highest mop-up ever in gold bond sales this April

Physical sales were very limited due to the lockdown and sovereign gold bonds were one of the few avenues available to invest in the precios metal

Average mandi prices of most agri commodities show mixed trend in April

A disruption in supply chain means that the arrival of commodities across the nation's main mandis remained a cause of concern

India's gold demand slumps to 11-year low of 102 tonnes in March quarter

Investment demand, though lower by 17%, was relatively better as sentiments towards equities turned negative and investors turned to gold's liquidity and safe haven status

13 shops sealed, 40 people quarantined in Azadpur Mandi due to Covid-19

Supplies remained unaffected and no unusual spike in prices says Mandi Chairman; 15 confirmed cases registered so far

India's jewellery demand dips 41% to 11-year low in March quarter: WGC

Global holdings of physically-backed gold ETFs and similar products jumped by 298 tonnes during the March quarter - the highest quarterly inflows for four years

India's scrap gold supplies at record high on price rally, coronavirus: WGC

Record high local prices, coupled with short-term pressure on household finances, could encourage people to sell gold

Crude oil up on demand prospects: steep rise in margins on MCX

Margin now fixed at 100%, with Rs 95,000 per lot as absolute minimum. So if crude falls below Rs 950, the margin will continue to be based on the price of Rs 950

Farmers destroy crop as lockdown brings floriculture market to standstill

Normally, farmers anticipate a huge bump in demand during the February-May season due to weddings and other such occasions

Pepper prices rise 15% amid lockdown on hope of healthy post-monsoon sales

Farmers hold on to stocks due to great demand for high-quality Indian produce

Coffee prices set to rise in short term amid supply chain disruptions

Demand continues to remain high, as harvesting and shipping issues hamper supplies

Bihar: Coronavirus lockdown hits Betel leaf farmers in Muzzaffarpur

Some farmers told ANI that they are facing problems as there is shortage of labour and they are not able to send their produce to the market due to the lack of transport facilities

Covid-19 lockdown spells trouble for strawberry growers in UP's Sambhal

Earlier the strawberry growers here had to suffer losses following a hailstorm, now that the markets are shut, the strawberry produce is yet to be sold

Outlook & trading strategies for Gold, Copper by Tradebulls Securities

The Rupee is finding resistance around 77.06 and upside momentum will continue above that level

Commodity outlook and recommendation by Tradebulls Sec: Buy Gold, Copper

The crude oil situation has made investors running for cash and dumping commodities

Reliance's Jamnagar refinery cuts crude processing by 24% as demand slumps

RIL's 35.2 million tonnes a year SEZ refinery processed 2.51 million tonnes of crude oil into fuel in March, a drop of 24 per cent year-on-year

As bauxite loses traction, Fimi seeks waiver of 15% duty on exports

The mineral lobby body has appealed to the Union finance ministry to exempt bauxite exports from duties

Prices remain muted despite decline in crop arrivals across mandis: CRISIL

Report points to the possibility of grains being hoarded by farmers and traders to be sold at a later date when mandi operations and logistics normalise

Gold can hit $3,000/oz as investors become risk-averse: BofA Securities

Variables such as nominal gross domestic product (GDP), central bank balance sheets, or official gold reserves will remain the key determinants of gold prices.

World Gold Council plans consumer marketing in India, promotes digital gold

Move spurred by unprecedented decline in demand; WGC is also working with large institutions for a bullion exchange in India, and with assaying centres to build consumers' trust