Page 386 - Commodity News
Gold price, demand moved in opposite directions during March quarter
The price rose 16% from $1,060 an ounce at end-December to $1,272 an oz
 "Gold price, demand moved in opposite directions during March quarter")
India's gems and jewellery exports decline on a global economic slowdown
The fall in G&J shipment was largely driven by a sharp fall in exports of cut and polished diamonds
 "India's gems and jewellery exports decline on a global economic slowdown")
India signs dairy products export protocol with Russia
Russia liberalises norms, first consignment of hard cheese to leave Indian shore by June ? end
 "India signs dairy products export protocol with Russia")
India likely to produce 23-24 MT of sugar in 2016-17
The federal government has asked state governments to impose stock limits on sugar to avoid hoarding by traders, Food Minister said
 "India likely to produce 23-24 MT of sugar in 2016-17")
Excise duty: If common items are taxed, how can luxury be exempted, says Arun Jaitley
Jaitley said corporate jewellers with upto Rs 12 crore turnover last year came under its ambit and upto Rs 6 crore turnover in a fiscal later are exempt from it
 "Excise duty: If common items are taxed, how can luxury be exempted, says Arun Jaitley")
Silver down by 0.2% in futures trade
Speculators cut down their bets in the domestic markets, affecting prices
 "Silver down by 0.2% in futures trade")
Gold futures down by 0.3% on profit-booking
Participants trimmed positions at current levels even as the precious metal rose overseas
 "Gold futures down by 0.3% on profit-booking")
Nickel down by 0.6% on global cues
Low demand from alloy-makers and other consuming industries in the domestic spot markets also weighed on the prices
 "Nickel down by 0.6% on global cues")
Zinc down by 0.4% on global trend
Subdued demand in domestic spot markets also affected prices
 "Zinc down by 0.4% on global trend")
Oil dips in Asia after hitting 2016 highs
Prices surged to 2016 peaks for the second straight day yesterday after the Federal Reserve left interest rates unchanged
 "Oil dips in Asia after hitting 2016 highs")
Slowdown in diamond jewellery
The developments in the Indian market are important since most of the rough diamonds ('roughs' in trade parlance) mined in the world are cut and polished in this country
 "Slowdown in diamond jewellery")
Weak 2016 awaits precious and base metals
Downside risks to the forecast include, stronger than expected monetary tightening and dollar strength
 "Weak 2016 awaits precious and base metals")
 "Shipping companies see rise in Baltic Dry Index as a blip")
India likely to become net importer of sugar in 2016-17
Back-to-back drought years threaten output
 "India likely to become net importer of sugar in 2016-17")
Gujarat textile policy sees Rs 9,200-cr investment
Aims to attract Rs 20,000 cr by next year; Surat textile park gets nod
 "Gujarat textile policy sees Rs 9,200-cr investment")
Oil retreats from 2016 highs on US crude build-up
US crude inventories climbed two million barrels last week to an all-time peak of 540.6 million barrels
 "Oil retreats from 2016 highs on US crude build-up")
Hallmark complications
Assaying gold jewellery may be a good idea, but it's tricky
Zinc falls by 0.1%, in line with global trend
Speculators trimmed positions, tracking a weak global trend
Gold prices rise by 0.3% in futures trade on global cues
Market analysts said rise in the precious metal in global markets mainly influenced gold prices
 "Gold prices rise by 0.3% in futures trade on global cues")
Nickel down by 0.5% on overseas cues
Subdued demand in the domestic market also affected prices