Page 435 - Commodity News

Crude oil prices drop more than 1% as weak outlook prevails

Slowing demand, high supplies and closing of 2015 trade books kept prices under pressure

Oilseed mills seek import duty exemption

India's silver import to set a new record this year

Consumers seen shifting rapidly from imitation jewellery, see resale value in silver ornaments and other articles

Gold exchanges promise pricing transparency

Assets affecting a big population need a transparent mechanism for price discovery, and a gold exchange appears to be an idea whose time has come

Sugar prices up by 0.5% on rising demand

However, adequate stocks on higher supplies from mills, restricted the rise

Jeera prices up by 1% on rise in demand

Besides, tight stocks on restricted supplies from producing regions fuelled the uptrend

Gold futures up by 0.3% on global cues

Speculators created fresh positions, taking positive cues from global markets

Nickel up by 0.7% on firm demand

Speculators widened positions, tracking a firming trend in spot market on increased demand from alloy-makers

Zinc prices up by 0.4% on spot demand

However, metal's weakness at the London Metal Exchange (LME) limited the upside

Lead prices down by 0.2% on global cues

Subdued demand from battery-makers in the domestic spot market also affected prices

Oil prices subdued in Asia

Tepid economic data from Japan and indications that Saudi Arabia's 2016 budget is based on prices staying low affected oil

Oil slump keeps gold under pressure in thin trade

The metal is likely to remain range-bound for the remainder of the week, tracking oil and currency markets

Rabi sowing continues to be weak as a result of low moisture

FCI invites bids for private procurement of paddy in Bengal, UP

The contract will be for three kharif marketing seasons, starting 2015-16

Oil falls towards $37, near 11-year low, as excess supply weighs

Total oil product sales in Nov fell to a 46-year low in Japan, in Europe demand growth for oil products turned negative in Oct

Oil prices weaken post-Christmas, US crude defends premium over Brent

Trading volumes also saw a fall with only 5,000 WTI contracts having changed hands so far

Gold imports lose steam, fall 36.5% to $3.5 bn in Nov

The contraction in imports helped narrow the trade deficit to $ 9.78 billion in the previous month

World Silver Council to set silver standard in India soon

The launch of WSC would bring a major relief for silver consumers as it would set a purity standard soon

Onion prices up on minimum export price exemption

India exports onion largely to Saudi Arabia, Colombo and some other far-east countries with an estimated annual volume of 1.5 million tonnes

Gold loses sheen for 3rd year; investors eye other assets

Sheds over Rs 1,000 per ten grams in 2015; Silver fares no better with a 8% dip