Page 2 - Commodity News

Gold nears ₹1.5 lakh on MCX, silver rallies amid easing West Asia tensions

Gold and silver futures advanced as easing West Asia tensions boosted hopes the US Federal Reserve may delay further interest rate hikes

Oil prices extend declines as investors await outcome of US-Iran talks

Brent crude futures dropped 92 ‌cents, or about 1.2%, to $78.44 a barrel by 0330 GMT

Gold rises ₹644 on MCX, silver gains ₹1,397 on hopes of Hormuz reopening

In the global market, gold was trading near $4,115 per ounce on Comex, while silver was around $58.90 per ounce

Oil rebounds after selloff as talks to end US-Iran war remain uncertain

Front-month Brent futures rose $0.62, or 0.7%, to $84.39 a ​barrel as of 0055 GMT after dropping 7% in the previous session to a three-week low

Gold rises ₹202 on MCX, silver gains ₹797 on reports of US-Iran talks

In the global market, gold was trading near $4,115 per ounce on Comex, while silver was around $58.30 per ounce

Oil drops nearly 5% as Trump cancels attack on Iran to reach nuclear deal

Brent crude futures slid $4.08, ‌or 4.64%, to $83.85 by 2352 GMT while US West Texas Intermediate crude was at $80.66 a barrel, down $4.01, or 4.74%

Oil retreats but risk is skewed northwards, cautions Mirae's Mohammed Imran

We hold a bullish stance on crude oil, with Brent expected to average around $80 if the war is not prolonged, but if we see Hormuz disruption until mid-September, Brent may average $90 by year-end.

Short-term traders can look to buy gold for upside till $4200: Mirae Asset

Dovish FOMC outcome is supportive of higher gold prices in very short term, though oil prices can cut the rally short.

Silver seen trading in $54-61 range as fundamentals weak: Praveen Singh

In the very short-term, silver can test the resistance around $61, with interim resistance at $59.45. Support is seen at $576.75/$54, while resistance is at $61.

Oil prices fall more than 1% on greater flows despite US-Iran war

Brent futures fell $1.03, or 1.2%, to $88 a barrel by 0215 GMT, while US West Texas Intermediate (WTI) crude slipped $1.50, or 1.8%, to $82.09 a barrel

West Asia risks will dictate crude oil price discovery: Kaynat Chainwala

Crude is not trading under normal conditions. Until there is a durable resolution to the conflict, geopolitical risk will continue to dominate price discovery.

Gold rises ₹176 on MCX amid short covering; silver drops ₹1,479

Gold futures edge higher on short covering even as a firmer dollar and elevated US Treasury yields cap gains, while silver trades lower

Global gold demand flat at 1,269 tonnes in June quarter, says WGC

The WGC report further stated that high prices continued to weigh on jewellery demand in Q2, which fell 17 per cent year-on-year as consumers bought less gold and shifted towards lighter products

India's gold demand falls 6% in April-June on weak demand, higher duty: WGC

The World Gold Council said that gold demand declined to 131.4 tonnes in the April-June quarter, though the value of consumption hit a record amid elevated prices

India's gold tariff hike boosts grey market, hurts organised trade: WGC

The World Gold Council says higher tariffs have widened the price gap, boosting grey-market gold imports and hurting organised players in India

India scrambles for sunflower oil alternatives on Black Sea disruptions

Delays in sunflower oil shipments from Russia and Ukraine push the world's largest buyer towards palm, soy and South American supplies amid weak domestic crops

Oil prices slip as tanker traffic steadies despite escalating US-Iran war

Brent slips below $90 a barrel after a sharp rally as shipping through key West Asian routes continues despite widening regional conflict

Oil rises as US-Iran tension escalates after Iraq strikes, missile attack

Brent futures increased by $3.15, or 3.8%, to $87.24 a barrel by 0520 GMT, while ‌US West Texas Intermediate (WTI) crude rose $2.73, or 3.4%, to $81.99 a barrel

Gold falls ₹243 ahead of Federal Reserve meeting; silver rises ₹815

Both metals had registered a sharp fall in the domestic and global markets on Tuesday

Oil markets under-pricing geopolitical supply shock, warns Mirae Asset

Near-term oil prices are likely to remain extremely volatile. Prices could react sharply to any suggestion that Washington and Tehran are moving toward peace, although we remain doubtful.