Gold price today, August 7, 2024: Barring any major developments on the geopolitical front, gold may slide further
Oil trading strategy, August 6, 2024: Oil prices are expected to remain subdued in short to medium term as demand has deteriorated sharply from Asia and, with the US on the verge of recession
How to trade Silver today: As the markets have already discounted September rate cut by the US Fed, the metal may fall unless the Fed gives clear guidance on possible rate cuts going forward
Silver support, resistance levels: Silver is expected to test the $35 mark on rate cut bets. Traders are expected to continue to buy into dips
Company declares interim dividend of Rs 2.75 per equity share, final dividend of Rs 8.5 per equity share
Buy MCX July Crude Oil futures at Rs 6,950-7,000 with a stop loss of Rs 6,860 and a price target of Rs 7,250
Weaker-than-expected US data also boosted silver prices as rate cut probability rose
Spot gold traded with a bearish bias on Tuesday as most of the commodities were under pressure due to the rise of far-right parties in the recently concluded European elections
Oil prices are moving higher after posting three straight weekly declines following Opec+ decision on June 2
A soft US nonfarm payroll report will be positive for gold as it will increase the possibility of a rate cut happening as early as in July
COMEX silver inventory fell from 299.04 Moz to 298.46 MOz and remains at the highest level since January 2023
Slightly softer than expected inflation data from University of Michigan, which was released Friday, continued to aid in commodities recovery
Silver at $30.12 was down over 2 per cent at the time of MCX closing as the corresponding MCX July contract at Rs 90305 was down 2.91 per cent on the day
Commodity trading: Copper prices have dropped 7 per cent since Monday's record high, with a significant intraday drop due to profit-taking
The downside pressure on gold further intensified on Thursday on better-than-expected S&P US Global manufacturing and services PMI data
The surge in the metal index, analysts believe, is largely credited to Vedanta's robust Q4 performance and its first interim dividend declaration of Rs 11 for FY25
Crude oil outlook: Crude oil prices are expected to trade in a fairly tight range ahead of the key OPEC+ meet on June 1
OPEC is expected to keep the supply tight to maintain the price stability at a time when demand is seen weakening
Market sentiment is starting to shift as rising commodity prices keep the policymakers from letting their guard down on inflation
The company continues to expand its rural distribution and now has 28,000 rural distributors onboard