Page 430 - Commodity News
Gold futures up by 0.2% on short-covering
Speculators covered-up positions even as the metal eased in the global market
 "Gold futures up by 0.2% on short-covering")
US crude falls below $31 in Asian trade
A global supply glut, a strong dollar and tepid demand affected prices
 "US crude falls below $31 in Asian trade")
Oil dive deepens to 12-year low; $20 warning on China
Long-term futures for 2017 fell nearly as much as those for immediate delivery as some producers rushed to hedge
 "Oil dive deepens to 12-year low; $20 warning on China")
 "Govt-industry tie-up can bring faster anti-dumping action")
Bullion body plans big boost to gold monetisation scheme
Proposes to set up 1,000 centres for promotion
 "Bullion body plans big boost to gold monetisation scheme")
Sebi tightens operating conditions for commexes
Sebi in a letter said: "If there is no trading operation on the platform of any commodity derivatives exchanges for more than 12 months, then...(it) shall be liable to exit"
Govt's rice procurement may exceed 32 mn tons this year
According to a Food Ministry official, overall rice procurement in 2015-16 will surpass last year's level
 "Govt's rice procurement may exceed 32 mn tons this year")
Oil prices fall for sixth session as recovery hopes wane
Brent crude futures were down by 47 cents at $33.08 a barrel
Gold rebounds, hits over 2-month high on global cues
Silver edges up by Rs 55 to Rs 33,855 per kg on increased offtake by industrial units and coin makers
 "Gold rebounds, hits over 2-month high on global cues")
Brent crude drops over 3% as China slowdown weighs
Fall in the commodity came as speculators increased net-short positions, which would profit from prices falling lower
Silver futures down by 0.2%
Speculators trimmed their positions even as it strengthened overseas
 "Silver futures down by 0.2%")
Zinc falls by 0.8%, hurt by muted demand
A weak global trend also affected prices
 "Zinc falls by 0.8%, hurt by muted demand")
Copper futures fall 1.04% on global cues
Besides, subdued spot demand from consuming industries fuelled the downtrend
 "Copper futures fall 1.04% on global cues")
Nickel falls by 1.8% on weak global cues
Muted demand from consuming industries at the domestic spot markets, weighed on prices
 "Nickel falls by 1.8% on weak global cues")
Lead falls by 0.9% on muted demand
A bearish global trend also affected prices
 "Lead falls by 0.9% on muted demand")
Gold futures up by 0.2% on global cues
Analysts attributed the rise in gold prices to a firming trend overseas
 "Gold futures up by 0.2% on global cues")
Oil prices slip further on China worries
However, analysts said ongoing tensions between producer giants Iran and Saudi Arabia could provide some support
 "Oil prices slip further on China worries")
Oil plunges over 2% as China slowdown weighs
Brent was down over 2.6% to $32.66 a barrel, while US WTI crude was down 2.3% at $32.39
 "Commodity picks")
Grown diamonds may be answer to Surat's woes
Grown diamonds are cultivated from small diamonds in a greenhouse in carbon-rich environment maintained for 12-14 weeks
 "Grown diamonds may be answer to Surat's woes")