Page 345 - Commodity News
Gold treads water on rate hike views; falling stocks support
A chorus of hawkish comments from US Fed officials kept hopes alive for a September rate hike
 "Gold treads water on rate hike views; falling stocks support")
Oil prices fall as US drillers add new rigs, speculators cut long positions
US drillers added oil rigs for a tenth week in the past 11
 "Oil prices fall as US drillers add new rigs, speculators cut long positions")
Lower sugarcane output to hit ethanol blending
Renuka Sugars has started building an inventory of molasses to ensure it doesn't face a shortage
 "Lower sugarcane output to hit ethanol blending")
Global coal prices to stay strong if China maintains reduced production
The recent global surge in coal prices, however, is not on account of higher demand, but on account of China reducing its supply.
 "Global coal prices to stay strong if China maintains reduced production")
Silver cracks below Rs 46,000 on global cues
Down Rs 350; Gold held steady at Rs 31,150 per 10 grams
 "Silver cracks below Rs 46,000 on global cues")
Gold slips for third day after Fed comments boost dollar
Palladium was down 1.17 percent at $674.5 an ounce
 "Gold slips for third day after Fed comments boost dollar")
Gold, silver weaken on global cues
Standard gold (99.5 purity) dropped by Rs 135 to end at Rs 31,175 per 10 grams from Thursday's closing level of Rs 31,310
 "Gold, silver weaken on global cues")
Oil heading for first rise in 3 weeks on OPEC hopes, US stocks
IEA has said it sees demand finally exceeding supply in the third quarter of 2016
Gold steady as dollar slips, on track for second straight weekly gain
US gold futures were steady at $1,342.20
Oil jumps, nears $50/bbl on large US crude stock draw
Gasoline futures jumped 5 percent after the data release, on higher than expected draws
 "Oil jumps, nears $50/bbl on large US crude stock draw")
US cuts duty barrier on shrimp import
Reduction in duty by the US govt on import of frozen shrimps from India is likely to boost exports
 "US cuts duty barrier on shrimp import")
Silver import declines 50% as traders offload stock
Silver has been an high beta commodity with prices rising and falling fast in comparison to gold
Govt agencies to buy pulses directly from farmers
Besides NAFED, the Small Farmers' Agribusiness Consortium and the Food Corporation of India are also undertaking pulses procurement
 "Govt agencies to buy pulses directly from farmers")
Gold inches up on weaker dollar, ECB stimulus in focus
Spot gold was up 0.2 per cent at $1,347.01 an ounce and US gold futures also rose 0.2 per cent to $1,351.70
Silver imports fell by half in 2016 as traders offloaded old stock
Silver has been a high beta commodity with prices rising and falling fast compared to gold
Gold steady on weaker dollar; ECB stimulus in focus
Spot gold was at $1,346.10 an ounce and US gold futures were nearly flat at $1,350.30
 "Onion prices slump to 4-yr low")
Basmati exporters smell opportunity in China
These mills are situated in states such as Punjab, Haryana, Uttar Pradesh and Madhya Pradesh
 "Basmati exporters smell opportunity in China")
Metals, crude up on weak US jobs data
Bullion weakens in global markets, but strengthens in India on festival demand
 "Metals, crude up on weak US jobs data")