Page 94 - Commodity News
Gold, silver rates unchanged in early trade; yellow metal selling at 52,200
Silver prices are unchanged, trading at Rs 60,800 per kg today
 "Gold, silver rates unchanged in early trade; yellow metal selling at 52,200")
On the rise again: Gold rates at a discount to tackle price jump
Local gold prices hit Rs 52,093 per 10 grams, the highest since August 16, and to lure buyers, dealers offered discounts up to $6 an ounce over official prices
 "On the rise again: Gold rates at a discount to tackle price jump")
Price of 24-carat gold rises Rs 100; silver unchanged at Rs 61,500
Ten grams of 22-carat gold is trading at Rs 47,850, after a decline of Rs 100
Oil prices to top $100 per barrel mark on OPEC+ output cut: Analysts
The OPEC+ on Wednesday announced its decision to cut crude oil output by 2 million barrels per day, the new production cap levels will come into force from November 2022.
 "Oil prices to top $100 per barrel mark on OPEC+ output cut: Analysts")
Goldman raises oil price forecasts on 'very bullish' OPEC-plus cuts
If latest reduction in output by OPEC+ is sustained through Dec 2023, it would amount to $25 per barrel upside to their Brent forecast, Goldman Sachs said in a note
 "Goldman raises oil price forecasts on 'very bullish' OPEC-plus cuts")
MCX Crude Oil can pullback to Rs 7,700; Natural Gas likely to test Rs 600
The pullback in MCX Crude Oil futures is aided by cut in oil production by OPEC+ members. The commodity crossed its 50-DMA for the first time since July 2022.
 "MCX Crude Oil can pullback to Rs 7,700; Natural Gas likely to test Rs 600")
Gold prices rise slightly today; silver goes down, trading at Rs 61,500
In Mumbai and Kolkata, 24-carat gold is selling at Rs 51,660 per 10 gram
 "Gold prices rise slightly today; silver goes down, trading at Rs 61,500")
Gold rate up by Rs 550; silver rises by Rs 4,400, selling at Rs 61,800
Gold and silver prices edged significantly higher in early trade with 10 gram of the yellow metal (24-carat) trading at Rs 51,660
 "Gold rate up by Rs 550; silver rises by Rs 4,400, selling at Rs 61,800")
Gold, silver rates rise in early trade; yellow metal trading at Rs 51,110
Gold and silver prices edged higher in early trade with 10 gram of the yellow metal (24-carat) trading at Rs 51,110
 "Gold, silver rates rise in early trade; yellow metal trading at Rs 51,110")
Bias negative for MCX Gold below Rs 50,500; Silver faces multiple hurdles
On the downside, near support for Gold futures seen at Rs 49,860, below which re-test of Rs 48,900-level seems likely; Silver futures face an uphill task of conquering multiple hurdles on the upside.
 "Bias negative for MCX Gold below Rs 50,500; Silver faces multiple hurdles")
Gold and silver rates untouched today; yellow metal trading at Rs 50,780
One kg of silver in Mumbai, Delhi, and Kolkata is trading at Rs 56,900
 "Gold and silver rates untouched today; yellow metal trading at Rs 50,780")
India slashes base import prices of crude and refined palm oil, gold
India has slashed the base import prices of crude and refined palm oil, crude soya oil and gold, the government said in a statement late on Friday, as prices corrected in the world market
 "India slashes base import prices of crude and refined palm oil, gold")
Oil jumps more than 3% in Asian trade as OPEC+ mulls cuts up to 1 mn bpd
Oil prices jumped more than 3% in early Asian trade on Monday as OPEC+ considers cutting output of up to 1 million barrels per day at a meeting this week to support the market
 "Oil jumps more than 3% in Asian trade as OPEC+ mulls cuts up to 1 mn bpd")
Gold heads for biggest quarterly drop since early 2021 on Fed rate hikes
Gold prices were set on Friday for their biggest quarterly fall since early 2021, as aggressive interest rate hikes by the US Federal Reserve and commitment to deliver more
 "Gold heads for biggest quarterly drop since early 2021 on Fed rate hikes")
Gold rates unchanged today; silver falls Rs 400, trading at Rs 55,000
In Mumbai and Kolkata, 24-carat gold is selling at Rs 49,970 per 10 gram
Export of rice consignments with limited quantity of broken rice allowed
The government imposed a ban on the export of broken rice with effect from September 9 to increase domestic availability
 "Export of rice consignments with limited quantity of broken rice allowed")
Oil prices stabilise as soaring dollar offset by US output outages
Brent crude futures were up 5 cents, or 0.06%, at $86.32 per barrel by 0937 GMT, while U.S. West Texas Intermediate crude futures were down 9 cents, or 0.1%, at $78.41 per barrel
 "Oil prices stabilise as soaring dollar offset by US output outages")
Gold slides to lowest since April 2020 as US dollar, yields climb
Spot gold fell 0.6% to $1,619.79 per ounce, as of 0854 GMT. U.S. gold futures slipped 0.5% to $1,627.60
MCX Crude Oil can fall to Rs 5,900; Natural Gas may soon test Rs 500-mark
The MCX Crude Oil October futures are likely to test major support of 100-WMA around the Rs 5,900-level. Whereas, for the week, Rs 530-level is the key support for Natural Gas futures.
 "MCX Crude Oil can fall to Rs 5,900; Natural Gas may soon test Rs 500-mark")
Gold rates fall in early trade; silver dips Rs 900, selling at Rs 55,440
In Mumbai and Kolkata, 24-carat gold is selling at Rs 49,970 per 10 gram