Page 91 - Commodity News
Gold set for best week in over two years on smaller rate hike hopes
The dollar index extended its decline, falling to its lowest in nearly three months, making gold more attractive for overseas buyers
 "Gold set for best week in over two years on smaller rate hike hopes")
Gold trading at Rs 51,670 per 10 grams, silver selling at Rs 61,400 per kg
Silver prices fell by Rs 300 in Thursday's early trade, with 1 kg of silver trading at Rs 61,400
 "Gold trading at Rs 51,670 per 10 grams, silver selling at Rs 61,400 per kg")
Petronet LNG Q2 results: Net profit down 10%, but turnover highest
The company is currently expanding capacity by 9 million tonnes at its LNG terminals in Dahej, and Kochi
 "Petronet LNG Q2 results: Net profit down 10%, but turnover highest")
Gold trading at Rs 51,670 per 10 grams, silver selling at Rs 61,700/kg
The price of 10 grams of 22-carat gold in Delhi, Bengaluru, and Chennai was Rs 47,460, Rs 47,410, and Rs 48,150, respectively.
 "Gold trading at Rs 51,670 per 10 grams, silver selling at Rs 61,700/kg")
After growth in first half, jewellery exports may face challenge in H2
After witnessing a cumulative growth of 6% during the first six months of FY23, the second half of the year could be slightly 'challenging' for exports of gems and jewellery items
 "After growth in first half, jewellery exports may face challenge in H2")
Thermal coal imports grow at slowest pace in 5 months in Oct, shows data
The share of South African thermal coal imports rose to the highest levels in recent months as sponge iron makers switched back amid Russian blend concerns, Coalmint said in a report this week
 "Thermal coal imports grow at slowest pace in 5 months in Oct, shows data")
Gold trading at Rs 51,040 per 10 grams, silver selling at Rs 61,700/kg
The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 46,940, Rs 46,840, and Rs 47,570, respectively
 "Gold trading at Rs 51,040 per 10 grams, silver selling at Rs 61,700/kg")
MCX Crude Oil may re-test Rs 7,700 soon; Natural Gas needs to hold Rs 518
On the downside, the MCX Crude Oil futures can decline to Rs 7,110-level. On the other hand, Natural Gas futures are likely to test support around Rs 487-level; the bias remains negative.
 "MCX Crude Oil may re-test Rs 7,700 soon; Natural Gas needs to hold Rs 518")
Oil prices eases to $98 a barrel as China Covid-19 cases dampen spirits
Brent edged down below $98 a barrel, after losing ground in the week's opening session as China reaffirmed its commitment to its zero Covid-19 strategy
 "Oil prices eases to $98 a barrel as China Covid-19 cases dampen spirits")
Gold trading at Rs 51,160 per 10 grams, silver selling at Rs 60,400 per kg
Bullion prices hit a three-week peak in the previous session, buoyed by a weaker US dollar
 "Gold trading at Rs 51,160 per 10 grams, silver selling at Rs 60,400 per kg")
Upside for Gold capped around Rs 52,570; Silver to test hurdle at Rs 60,800
The MCX Gold futures are likely to face resistance around Rs 51,135, above which the up move may still be capped at Rs 52,570. Silver futures have failed to sustain above the 200-DMA since late April.
 "Upside for Gold capped around Rs 52,570; Silver to test hurdle at Rs 60,800")
Gold trading at Rs 51,290 per 10 grams, silver selling at Rs 60,400/kg
The price of ten grams of 22 carat gold in Delhi, Bengaluru, and Chennai is Rs 47,160, Rs 47,060, and Rs 47,710, respectively.
Oil prices fall more than 2% as China sticks to strict zero-Covid policy
Brent crude futures dropped $1.58, or 1.6%, to $96.99 a barrel by 2336 GMT, after hitting as low as $96.50 earlier.
Gold trading at Rs 50,280 per 10 grams, silver selling at Rs 60,000/kg
The price of 10 grams of 22 carat gold in Delhi, Bengaluru, and Chennai is Rs 46,240, Rs 46,140, and Rs 47,160, respectively.
Gold prices at two-week low as Jerome Powell quashes dovish pivot hopes
Higher US interest rates increase the opportunity cost of holding the non-yielding asset and boosts the dollar
Gold trading at Rs 51,110 per 10 grams, silver selling at Rs 58,900/kg
The price of 10 grams of 22 carat gold in Delhi, Bengaluru, and Chennai is Rs 47,000, Rs 46,900, and Rs 47,410, respectively.
Gold trading at Rs 50,780 per 10 grams, silver selling at Rs 59,500/kg
10 grams of 22 carat gold in Delhi, Chennai, and Bengaluru is selling at Rs 46,700, Rs 47,300, and Rs 46,600, respectively.
 "Gold trading at Rs 50,780 per 10 grams, silver selling at Rs 59,500/kg")
Gold prices rise by Rs 51 to Rs 50,964; silver drops Rs 502 per kg
Gold price in the national capital gained Rs 51 to Rs 50,964 per 10 grams on Wednesday amid weak rupee, according to HDFC Securities.
 "Gold prices rise by Rs 51 to Rs 50,964; silver drops Rs 502 per kg")
Upside for crude oil capped at Rs 7,700; Natural Gas faces hurdle at Rs 492
On the downside, the MCX Crude Oil futures have near support at Rs 7,205 and Rs 7,027 levels. Meanwhile, if Natural Gas futures sustain above Rs 492, they can rally past the Rs 535-level.
 "Upside for crude oil capped at Rs 7,700; Natural Gas faces hurdle at Rs 492")
India's gold demand hits pre-pandemic levels; Q3 gold demand up 14%: WGC
India's gold demand has reached pre-pandemic levels and has witnessed an annual growth of 14% during the July-September quarter, according to a World Gold Council (WGC) report
 "India's gold demand hits pre-pandemic levels; Q3 gold demand up 14%: WGC")