Page 239 - Commodity News

Gold, silver turn weak on sluggish local demand, bearish global cues

Globally, gold fell 0.11 per cent to $1,220.80 an ounce and silver by 0.21 per cent to $14.46 an ounce

Commodity outlook: Sugar prices on an uptrend; likely to hit $16.8

India is likely to produce less sugar than forecast earlier, with mills reporting a sharp drop in sugar cane yields because of drought and infestations.

Commodity picks: 19 November 2018

or the week ahead, sugar prices are expected to decline by Rs 30-50 per quintal and head towards Rs 3,020 per quintal due to commencement of crushing season

Cotton output may decline 11% this year on drought in major growing states

Gujarat and Maharashtra impacted most, second and third pickings may take a get impacted; cotton price may swing in coming weeks

Traders fear rise in onion prices due to fall in rabi sowing in Maharashtra

Some traders fear that the recent fall in arrivals is a signal and if farmers start storing onions in cold storages, prices will start strengthening and things could worsen in January

Gold spurts by Rs 135 to Rs 32,150 per 10 g on wedding season demand

In the national capital, gold of 99.9 per cent and 99.5 per cent purity traded higher by Rs 135 each to Rs 32,150 and Rs 32,000 per 10 grams, respectively

ONGC eyes technology infusion to boost output from old and matured fields

Field operators would be selected through a competitive bidding process where those offering higher growth in output would be chosen

Gold prices rise by Rs 54 to Rs 30,875 per 10 g on positive global trends

Globally, the gold was trading 0.15 per cent higher at $1,215.80 an ounce in Singapore

Oil rises on expected Opec supply cuts, but record US production drags

Opec's de-facto leader Saudi Arabia wants the cartel and its allies to cut output by about 1.4 million barrels per day

Agri input firms see higher Q2 profits due to rise in sales, normal monsoon

They aim to achieve the full benefit of price hikes in the December quarter

Gold imports dip 43% to $1.68 bn in Oct on low demand, depreciating rupee

India, the world's second-biggest gold consumer after China, imports about 900 tonnes of gold a year

Govt to soon make hallmarking of gold sold in India mandatory, says Paswan

India has over 220 BIS-recognised assaying and hallmarking centres; and maximum of them are located in Tamil Nadu, followed by Kerala

Putin says oil at $70 suits Russia, will cooperate with Saudi on output cut

Oil prices have shed a fifth of their value over the past month due to oversupply and signs of a softer-than-expected impact from sanctions on Iranian crude exports

BIS asks gold buyers to trust Hallmark over brand or jeweller

The ongoing print and digital campaign educates consumers on the Hallmark logo and how to go about testing the purity of their gold purchases

India's sugar output may fall 7.4% due to drought in key growing areas

The drop will reduce exports from the world's second-biggest sugar producer and likely help support global prices that have fallen 17% so far in 2018

Base metal prices set for a rally early next year after bearish phase

Since April, metals are down by nine to 23%

Apple prices jump 20% in one week on extensive crop damage in J&K

Extent of damage estimated at 10-12% in Kashmir and a marginal 2-3% in Himachal Pradesh due to pre-season snowfall

India's sugar exports hit by falling prices; govt offers transport subsidy

Sugar price declines 4% in the world and 2.5% in India in two weeks; Maharashtra seek incentives on tradable quantity from Uttar Pradesh mills.

India emerges a major seed hub in Asia as firms invest in a big way: Study

In comparison, only 11 companies have invested in breeding activities in Thailand and eight in Indonesia, the two other major regional seed hubs

Need 1-mn bpd global oil output cut to re-balance market: Saudi Arabia

Saudi Arabia, the world's largest oil supplier, will cut its production by 500,000 bpd as of next month to help stabilise the market