Page 412 - Commodity News

Oil prices stabilise on lower US rig count, but global glut still weighs

Brent was trading up 34 cents at $33.35 a barrel, while WTI traded at $29.90 a barrel

Commodity picks

NCDEX orders forensic audit of castor crisis

Report expected next month, exchange beefing up systems, plans to re-launch contract

Govt may hike PSF fund by 80% to Rs 900 cr in Budget

Fund would continue to be used for importing pulses as output expected to be lower at 17.33 mn tonnes

Gold weakens on muted demand, global cues

Traders said apart from muted demand from jewellers and retailers at prevailing levels, a weak trend overseas mainly led to the fall in prices

Indian sugar exports slow to Myanmar, smuggling gateway to China

Flows of Indian white sugar to Myanmar, a gateway for smuggling into China, are slowing down, while Brazilian sugar becomes more competitive

Saudi, Iraq sell more oil to India, elbow out Latin America crudes

Competitive prices and shorter shipping distances are giving the Middle East members of the OPEC the upper hand in India

Gold shines again, tops Rs 29,000 on global cues & domestic demand

Silver also shot up by Rs 375 to Rs 37,475 per kg on increased offtake by industrial units and coin makers

Oil prices fall on oversupply concerns after US crude stocks hit record

Brent futures had fallen 25 cents to $34.03 a barrel; Asian shares slipped due to fall in oil prices

Lead up by 1.5% on spot demand

A firming trend overseas also helped prices

Gold futures up by 0.3% on firm global cues

Speculators raised their bets amid a firming trend overseas

Nickel up by 0.5% on spot demand

A firm global trend in the domestic markets also helped prices

Haryana, Punjab may cut Bt cotton sowing

The move comes after a joint action panel recommended use of traditional varieties as they were immune to pest attacks

Asia shuns gold on higher prices; India discounts hit record high

Gold has rallied 13.7% this year amid a tumble in global stocks that stoked demand for the safe-haven metal

Oil extends rally towards $35 after Iran welcomes output freeze

Brent soars 38 cents to $34.88 a barrel; gain added to a more than 7% surge in the previous session

Copper futures fall 0.3% on global cues

Sluggish spot demand from consuming industries fuelled the downtrend

Sugar futures up 0.3% on spot demand

The sweetener for delivery in far-month May edged up by Rs 5, or 0.15 per cent to Rs 3,258 per quintal in 72,250 lots

Silver futures down by 0.3% amid profit-booking

However, a firming trend in the precious metals overseas, capped the losses

Lead prices down by 0.4% on weak overseas cues

Muted domestic demand also affected prices

Gold down by 0.2% in futures trade on profit-booking

Participants cut down their bets to book profits even as the precious metal strengthened overseas