Page 8 - Commodity News

Silver seen trading in $54-61 range as fundamentals weak: Praveen Singh

In the very short-term, silver can test the resistance around $61, with interim resistance at $59.45. Support is seen at $576.75/$54, while resistance is at $61.

Oil prices fall more than 1% on greater flows despite US-Iran war

Brent futures fell $1.03, or 1.2%, to $88 a barrel by 0215 GMT, while US West Texas Intermediate (WTI) crude slipped $1.50, or 1.8%, to $82.09 a barrel

West Asia risks will dictate crude oil price discovery: Kaynat Chainwala

Crude is not trading under normal conditions. Until there is a durable resolution to the conflict, geopolitical risk will continue to dominate price discovery.

Gold rises ₹176 on MCX amid short covering; silver drops ₹1,479

Gold futures edge higher on short covering even as a firmer dollar and elevated US Treasury yields cap gains, while silver trades lower

Global gold demand flat at 1,269 tonnes in June quarter, says WGC

The WGC report further stated that high prices continued to weigh on jewellery demand in Q2, which fell 17 per cent year-on-year as consumers bought less gold and shifted towards lighter products

India's gold demand falls 6% in April-June on weak demand, higher duty: WGC

The World Gold Council said that gold demand declined to 131.4 tonnes in the April-June quarter, though the value of consumption hit a record amid elevated prices

India's gold tariff hike boosts grey market, hurts organised trade: WGC

The World Gold Council says higher tariffs have widened the price gap, boosting grey-market gold imports and hurting organised players in India

India scrambles for sunflower oil alternatives on Black Sea disruptions

Delays in sunflower oil shipments from Russia and Ukraine push the world's largest buyer towards palm, soy and South American supplies amid weak domestic crops

Oil prices slip as tanker traffic steadies despite escalating US-Iran war

Brent slips below $90 a barrel after a sharp rally as shipping through key West Asian routes continues despite widening regional conflict

Oil rises as US-Iran tension escalates after Iraq strikes, missile attack

Brent futures increased by $3.15, or 3.8%, to $87.24 a barrel by 0520 GMT, while ‌US West Texas Intermediate (WTI) crude rose $2.73, or 3.4%, to $81.99 a barrel

Gold falls ₹243 ahead of Federal Reserve meeting; silver rises ₹815

Both metals had registered a sharp fall in the domestic and global markets on Tuesday

Oil markets under-pricing geopolitical supply shock, warns Mirae Asset

Near-term oil prices are likely to remain extremely volatile. Prices could react sharply to any suggestion that Washington and Tehran are moving toward peace, although we remain doubtful.

Oil prices plunge 1% as investors weigh pause in US strikes on Iran

Brent crude futures ​were down $0.54, or 0.6%, at $87.82 by 0046 GMT

Oil slips 7%, global shares gain as Chinese chipmaker CXMT soars in debut

US futures surged early Monday and the price of a barrel of Brent crude, the international standard, dropped 6.8 per cent to $85.49

Gold climbs ₹757 on MCX, silver surges ₹2,266 as crude oil prices ease

Gold and silver futures traded higher after crude oil slipped below $100 a barrel, while renewed geopolitical tensions and safe-haven buying supported precious metals

Gold, silver regain momentum; crude oil falls below $100 a barrel

In the global market, gold opened with marginal gains. However, prices later declined before recovering again. Silver had a subdued start in the global market, but later prices rebounded sharply

Red Sea, Hormuz risks may push Brent to $120: Mohammed Imran, Mirae Asset

For investors and corporates, the prudent strategy is to treat oil not as a one-directional price trade but as a geopolitical volatility asset

Silver may stay in $54-61 range in near term amid oil swings, rate concerns

Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, said oil prices fuelled inflation concerns and increased expectations of higher interest rates.

Higher oil prices may outweigh safe-haven demand for gold: Mirae Asset

Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, said elevated expectations of a Fed rate hike are bearish for the metal, but the downside is expected to remain limited

Brent hovers above $100 on Red Sea disruptions, Iran war concerns

Brent futures advanced 37 cents, or 0.37 per cent, to $101.06 a barrel at 0330 GMT, ‌having settled up 7 per cent above $100 in the previous session for the first time since May