Page 3 - Commodities

Gold scales new peak; existing investors should book partial profits

New ones should stagger purchases to avoid timing risk

Gold plunges ₹1,000 to ₹1,01,520 in NCR amid global markets sell-off

Gold prices plunged Rs 1,000 to Rs 1,01,520 per 10 grams in the national capital on Tuesday in line with a sell-off in global markets, according to the All India Sarafa Association. On Monday, the precious metal of 99.9 per cent purity had settled at Rs 1,02,520 per 10 grams. In the local markets, gold of 99.5 per cent purity dipped Rs 1,000 to Rs 1,01,100 per 10 grams (inclusive of all taxes) on Tuesday. "Gold prices dipped after US President Donald Trump clarified on social media that there would be no tariffs on gold imports. Although an official confirmation from the White House is still pending, the announcement eased some trade-related concerns," Abans Financial Services CEO Chintan Mehta said. Adding to this, the White House announced on Monday that the suspension of high-level tariffs on China will be extended until November 11. This decision has helped ease ongoing macroeconomic tensions for now, which has pressured gold prices downwards, Mehta added. On Tuesday, the rupe

US tariff hike likely to hit Rajasthan's gems and jewellery sector

Jaipur Sarafa Committee Chairman Kailash Mittal said that Rajasthan's jewellery traders are surprised by the tariff move but not overly worried

Gold may rally further amid macro uncertainty and global tariff tensions

Gold prices are likely to extend gains in the coming week, as macroeconomic uncertainty, tariff disputes and central bank buying continue to underpin investor appetite for the precious metal, according to analysts. Traders will closely monitor a series of key macroeconomic data releases from major economies, including the UK and EU GDP, the US Core PPI and Core CPI. Speeches by US Federal Reserve officials will also be in focus for further guidance on the near-term trajectory for the gold prices. Prathamesh Mallya, DVP Research, Non-Agri Commodities and Currencies at Angel One, said gold prices continue to rally and make new highs in the international as well as domestic futures. "From the lows of Rs 98,079 per 10 grams made on July 28, to the highs of Rs 1,02,250 per 10 grams, the shine in gold prices continues to increase the wealth of gold investors. In the international markets, prices have surged from USD 3,268 per ounce on July 30 to USD 3,534.10 per ounce as of August 8. Th

360 ONE Asset launches Multi Asset Allocation Fund: Who should invest?

360 One Multi Asset Allocation Fund is an open-ended scheme investing in a diversified portfolio of equities, debt, and commodities

Technical glitch delays Multi-Commodity Exchange trading by an hour on Wed

A technical outage delayed trading on the Multi-Commodity Exchange by an hour, as brokers were unable to place orders until the issue was resolved at 10:15 am

Gold imports in June fall to two-year low as record price dents demand

Domestic prices hit an all-time high of 101,078 rupees per 10 grams in June. Gold prices have risen 27 per cent so far this year after rising 21 per cent in 2024

Sebi renews MCXCCL's recognition as clearing corporation for 3 years

Markets regulator Sebi has renewed the recognition of Multi Commodity Exchange Clearing Corporation Ltd (MCXCCL) to act as a clearing corporation for three years beginning July 31. The three-year term would conclude on July 30, 2028, according to a notification issued by the Securities and Exchange Board of India (Sebi) on Monday. "Sebi, having considered the application for grant of renewal of recognition ... by MCXCCL... and being satisfied that it would be in the interest of the trade, in the interest of securities market and also in the public interest so to do, hereby grants ... renewal of recognition to the said clearing corporation for three years commencing on the 31st day of July, 2025 and ending on the 30th day of July, 2028," the notification noted. MCXCCL is a wholly owned subsidiary of Multi Commodity Exchange of India Limited (MCX).

Vegetable oil imports flat in June despite tariff cut boost to crude oils

India's vegetable oil imports remained flat at 15.49 lakh tonnes in June compared to the same month last year, even as shipments of crude edible oils surged more than 25 per cent, industry body Solvent Extractors Association (SEA) said on Monday. The rise in crude oil shipments came after the government reduced the Basic Customs Duty (BCD) on crude edible oils, including crude palm oil, crude soybean oil, and crude sunflower oil, to 10 per cent from 20 per cent, effective May 31. Total vegetable oils, comprising both edible and non-edible oils, stood at 15.50 lakh tonnes in June 2024. In the edible oil category, barring crude sunflower oils, imports of other crude edible oil variants rose 25.64 per cent to 11.51 lakh tonnes in June from 9.16 lakh tonnes a year earlier. However, crude sunflower oil shipments declined 53.58 per cent to 2.61 lakh tonnes in June from the year-ago period. According to SEA data, crude palm oil (CPO) imports rose 23.55 per cent to 7.88 lakh tonnes in Jun

Crude oil rises to 3-week high as investors eye Trump statement on Russia

Brent crude futures rose 58 cents, or 0.8 per cent, to $70.94 a barrel by 0900 GMT, while U.S. West Texas Intermediate crude futures climbed 59 cents, 0.9 per cent, to $69.04

Gold likely to trade firm next week on weak dollar, global risks: Analysts

Gold prices are likely to trade firm in the coming week supported by global risk aversion, persistent weakness in the US dollar index, and a flurry of trade-related developments, analysts said. Investors will closely monitor the release of US Consumer Price Inflation (CPI) and retail sale data, which could in turn provide more direction for the bullion prices, they added. Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities, said gold is expected to trade strong in the coming week as long as it sustains above Rs 97,000 per 10 grams on the MCX. "Renewed trade tariff jitters and continued weakness in the dollar index are amplifying global risk aversion, prompting a shift away from risky assets toward safe-haven instruments like bullion," Trivedi noted, adding that a weak rupee could further aid upside momentum in the gold prices. Last week, the yellow metal futures for August delivery climbed Rs 842, or 0.86 per cent, on the Multi Commodity Exchange ...

Palm oil futures rise on better demand, likely lower June production

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange gained 66 ringgit, or 1.66%, to 4,034 ringgit a metric ton by the midday break

Silver price outlook: 'Buy on dip' suggests analyst; check key levels here

Silver price outlook: The white metal at $36.69 was up around 1.1 per cent on the day as the US Dollar Index slumped for the fifth straight day amid healthy risk appetite

Motilal Oswal recommends 'buy' on MCX Copper, set target at ₹915

Motilal Oswal Wealth Management recommends buying in the range of ₹882 - ₹880, with a stop-loss below ₹855 on a closing basis

Crude oil falls as traders consider potential jump in US crude stockpiles

Brent crude futures fell 64 cents, or around 1%, to $65.99 a barrel by 0934 GMT. U.S. West Texas Intermediate (WTI) crude slipped 64 cents, or 1%, to $63.03

Crude oil prices drop as OPEC+ accelerates output hikes, surplus looms

Brent crude futures dropped by 87 cents, or 1.42%, to $60.42 a barrel by 0946 GMT, while U.S. West Texas Intermediate crude was at $57.37 a barrel, down 92 cents, or 1.58%

Beijing slashes US commodities purchases as trade tensions worsen

Among the worst affected were purchases of liquefied natural gas and wheat, which both fell to nothing in March, according to Chinese customs data released on Sunday

FMCG firms may register low single-digit revenue growth in FY25: Report

FMCG firms are expected to register a 5 per cent rise in revenue with almost flat margin growth in the fourth quarter of fiscal 2024-25, according to a report from banking firm BNP Paribas India. The report also lowered the earnings estimates for FY26 for the companies under its coverage, except for Godrej Consumer Products and Emami. However, it sees a "favourable base" in FY26 for the FMCG sector, helped by some near-term positives like the drop in crude price and positive trends for rural growth. "We expect our FMCG coverage revenue growth to inch up slightly from 4 per cent in 3QFY25 to 5 per cent in 4QFY25, led by Marico, which should see strong revenue growth helped by commodity inflation, and recovery in growth for GCPL, led by its home care division," BNP Paribas said in its India Consumer Report April 2025. The inflationary pressure on most commodities continues to be high in Q4, hurting the margins of the companies, though prices for palm oil and tea have eased quarter o

India's export of key items sees double-digit contraction, says report

Data released by the commerce department on Monday showed that outbound shipments from India shrank at the sharpest pace in 20 months-by 10.9 per cent on-year--to $36.91 billion in Feb

Sugar output falls 16%; cooperative body flags production ambiguity

India's sugar production has declined by 16.13 per cent to 23.71 million tonnes so far in the ongoing 2024-25 season, creating challenges for government policies which were formulated based on higher initial projections, cooperative body NFCSF said on Sunday. The National Federation of Cooperative Sugar Factories (NFCSF) expressed concern over the "ambiguity" in sugar production numbers as the 2024-25 sugarcane crushing season (October-September) nears its end with significantly lower output than initially projected. Sugar production estimates have been repeatedly revised downward since the season began, creating challenges for government policies which were formulated based on an initial projection of 33.3 million tonnes, the industry body said in a statement. "One section of the industry submitted an estimate of 33.3 million tonnes of sugar production to the central government. Based on that, the central government started formulating its policies," NFCSF said. The central ...