Page 333 - Commodity News
Gold up on safe-haven buying ahead of US election uncertainty
Gold is highly sensitive to rising rates, which lift opportunity cost of holding non-yielding assets
 "Gold up on safe-haven buying ahead of US election uncertainty")
Weaker dollar lifts oil prices from five-week low
Concerns over supply disruptions in Nigeria also supported prices
 "Weaker dollar lifts oil prices from five-week low")
Steel makers oppose anti-dumping duty on met coke
The commerce ministry had recently recommended a $25 per tonne levy on such imports
 "Steel makers oppose anti-dumping duty on met coke")
Nalco likely to hold back Iran smelter plans
Nalco has kept its options open to go for a toll-smelting arrangement with some Iranian firms
Govt tightens rule for star export houses
Only exports from domestic tariff areas would be counted and such exports have much better vigilance mechanism
 "Govt tightens rule for star export houses")
Gold prices hit 1-month high on robust demand
Following a sharp increase in festive demand, the earlier discount of $15-20 to the imported gold price has evaporated
 "Gold prices hit 1-month high on robust demand")
Green shoots in textile and garments sector
Rising consumption, government measures and export incentives to aid growth
 "Green shoots in textile and garments sector")
MCX plans options in gold, mock trading in a month
Key challenge for the exchange would be to have enough option writers who takes full price risk
 "MCX plans options in gold, mock trading in a month")
Centre unveils faster-maturing pulses variety
The variety will yield 20 quintals a hectare and mature in around 120 days as against 170-180 days
 "Centre unveils faster-maturing pulses variety")
Enough value added in alumina to justify exports?
In Piyush Goyal, aluminium makers have found a mines minister with a clear vision of where he wants to see India's largest non-ferrous metal industry in the next decade & beyond
 "Enough value added in alumina to justify exports?")
Seafood body to tell EU of steps taken on shipment quality
New EU norms call for testing half the consignment, up from 10% earlier, after discovery of chloramphenicol and other contaminants in export samples
Oil falls as non-OPEC countries yet to pledge concrete output steps
Russia expects to increase its oil output by 0.7% next year and a further 0.9% in 2018
 "Oil falls as non-OPEC countries yet to pledge concrete output steps")
Diwali mood drags volumes of agri-commodity futures
Experts say lack of interest in futures market has led to the decreased volumes in agri-commodities during Diwali season
 "Diwali mood drags volumes of agri-commodity futures")
Dhanteras jewellery sales climb 30-50%
The Diwali week contributes nearly 15-20 per cent of India's overall gold demand of over 900 tonnes
 "Dhanteras jewellery sales climb 30-50%")
India's $20 billion refinery expansion to cut fuel oil output
Indian refiners' expansion plans coincide with changing shipping fuel norms from 2020 requiring the use of low-sulphur fuels
 "India's $20 billion refinery expansion to cut fuel oil output")
Indian festive glitter fails to rub off on Asian gold demand
Gold prices in India were at a premium of up to $3 an ounce over official domestic prices this week
 "Indian festive glitter fails to rub off on Asian gold demand")
Oil prices edge lower on doubts over production cut deal
Disagreements remain over which members should be exempt from a curb to reduce output to a range of 32.5-33 mn bpd
Is gold likely to be a good buy this Samvat?
Last Samvat was good for Indian gold buyers, with metal giving a 16.8% return
 "Is gold likely to be a good buy this Samvat?")
Gold prices slip 0.24% on global cues
The metal for delivery in February next year traded lower by Rs 57, or 0.17% to Rs 29,823 per 10 grams in 78 lots