Page 42 - Commodity News
India's festive gold buying spree continues, defying record price
Indians were celebrating Dhanteras on Tuesday, a day considered auspicious for buying gold and one of the busiest gold-buying days in India
 "India's festive gold buying spree continues, defying record price")
Gold demand strong as import duty cut boosts Dhanteras buying: MMTC-PAMP
The positive momentum is expected to continue into the upcoming wedding season, which traditionally accounts for approximately half of India's annual gold consumption
 "Gold demand strong as import duty cut boosts Dhanteras buying: MMTC-PAMP")
RBI's domestically-held gold reserves jump 510.46 MT by end-September
As of end-September, the Reserve Bank of India (RBI) held 854.73 metric tonnes of gold, compared to 822.10 metric tonnes at the end of March
 "RBI's domestically-held gold reserves jump 510.46 MT by end-September")
Gold dips Rs 10 at Rs 79,790; silver down to Rs 100; trading at Rs 97,900
The price of 22-carat gold also witnessed a drop of Rs 10, with ten grams of the yellow metal selling at Rs 73,140
 "Gold dips Rs 10 at Rs 79,790; silver down to Rs 100; trading at Rs 97,900")
Crude oil strategy today, Oct 29: Short the rally; WTI resistance at $70
Oil price today: Crude oil prices tumbled 6 per cent on Monday, with Brent settling under $72 and WTI at $67.38
 "Crude oil strategy today, Oct 29: Short the rally; WTI resistance at $70")
Crude oil to remain volatile in Samvat 2081 amid OPEC+ production cuts
Brent crude oil prices saw a considerable decline from the beginning of Samvat 2080 (November 12) until October 28, dropping by 12.33 per cent from $82.52 to $72.34 per barre
 "Crude oil to remain volatile in Samvat 2081 amid OPEC+ production cuts")
Gold dips Rs 10 at Rs 80,280; silver down to Rs 100; trading at Rs 97,900
In Delhi, the price of ten grams of 22-carat gold stood at Rs 73,740 and in Bengaluru, and Chennai, ten grams of 22-carat gold was trading at Rs 73,590
Oil prices likely to fall after Israel shows restraint in strikes on Iran
Iran on Saturday played down Israel's overnight air attack against Iranian military targets, saying it caused only limited damage
 "Oil prices likely to fall after Israel shows restraint in strikes on Iran")
Gold up Rs 10 at Rs 79,590; silver down to Rs 100; trading at Rs 97,900
The price of 22-carat gold also witnessed a rise of Rs 10, with ten grams of the yellow metal selling at Rs 72,960
Gold falls Rs 10 to Rs 79,460, silver down Rs 100 trading at Rs 1,01,900
Price of ten grams of 24-carat gold in Mumbai is Rs 79,460 which aligns with prices in Kolkata, Bangalore, Chennai, and Hyderabad
 "Gold falls Rs 10 to Rs 79,460, silver down Rs 100 trading at Rs 1,01,900")
Gold rises Rs 10 to Rs 80,080, silver up Rs 100 trading at Rs 1,04,100
Price of ten grams of 24-carat gold in Mumbai is Rs 80,080 which aligns with prices in Kolkata, Bangalore, Chennai, and Hyderabad
 "Gold rises Rs 10 to Rs 80,080, silver up Rs 100 trading at Rs 1,04,100")
Finance Ministry to consider scrapping windfall tax on crude: Govt official
The imposition of windfall tax on crude oil was introduced in 2022 to address excessive profits during high prices
Gold, silver prices hit new lifetime highs on wedding season demand
Gold prices jumped by Rs 500 to an all-time high of Rs 81,500 per 10 grams while silver surged Rs 1,000 to Rs 1.02 lakh per kg
Silver rate today: White metal has resistance at Rs 1,06,000; strategy here
Silver rate today: Unless we see a sharp decline in gold or copper prices, silver is likely to trade with a bullish bias
 "Silver rate today: White metal has resistance at Rs 1,06,000; strategy here")
Gold falls Rs 10, silver up Rs 100; precious metal trading at Rs 1,02,100
The price of 22-carat gold also witnessed a fall of Rs 10, with ten grams of the yellow metal selling at Rs 72,990
 "Gold falls Rs 10, silver up Rs 100; precious metal trading at Rs 1,02,100")
Crude oil can hit low $60s by 2025-end despite geopolitical conflict
Oil price outlook: Given the low level of oil inventories, there could be a sustained geopolitical premium in crude price until the conflict is resolved in the short-term
World has enough oil, more supplies coming: Puri hopes prices will cool
India imports more than 85 per cent of its oil needs and any rise in global rates not just impacts import bills but also fuels inflation
 "World has enough oil, more supplies coming: Puri hopes prices will cool")
Jewellers' body pushes for standardisation of gold rates across India
The council, which has already conducted over 50 meetings with its members, has managed to bring up to 8,000 jewellers on board for this initiative
 "Jewellers' body pushes for standardisation of gold rates across India")
Gold climbs Rs 10, silver up Rs 100; yellow metal trading at Rs 79,650
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata, Bangalore, Chennai, and Hyderabad at Rs 79,650.
Gold, Silver Samvat 2081 outlook: Will precious metals continue to sparkle?
Samvat 2081 outlook: Analysts believe the interplay of easing monetary policies globally, ongoing geopolitical conflicts, and the upcoming US presidential elections is poised to influence gold prices