Spot gold slid on Tuesday following a rebound on Monday as the US Federal Reserve officials continue to maintain a hawkish outlook on rates
Silver has come under renewed downside pressure as the US Federal Reserve delivered a hawkish pause in its monetary policy meeting that concluded on June 12
On the daily chart, MCX Copper has been unable to sustain the breakout of its rising channel pattern and has moved down, forming a lower high, lower low pattern, indicating bearish sentiment
Given the above-mentioned developments, we believe that the oil market is heading lower in the short to medium term due to softening of global economic conditions
COMEX silver inventory fell from 299.04 Moz to 298.46 MOz and remains at the highest level since January 2023
OPEC is expected to extend its production cuts in an upcoming meeting, which has recently helped both WTI and Brent to break above their 100-day moving averages
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
Silver price on MCX: Support is seen at $31 (Rs 93,500) /$29.50 (Rs 89,000)
The cautious stance of the US Federal Reserve on its monetary policy is somewhat positive for the metal; thus, inflation hedge buying theme dominates
Crude oil prices rose by 0.5 per cent to $78.48 on Monday amid volatility tied to hopes for an end to the Gaza conflict.
MCX stock price update: Morgan Stanley has maintained an 'Underweight' rating on the stock with a target price of Rs 2,085
The partnership will contribute to the advancement of both marketplaces through the sharing of knowledge, best practices, and education and facilitate market development in their respective regions
The exchange, instead of opening at 9am, was able to commence trading after 1 pm
MCX is primarily a venue to trade gold, silver, crude oil and base metal futures contract in India, a leading importer of these commodities
The DMA facility allows brokers to provide direct trading terminals to their clients. "All DMA orders shall be routed to the exchange trading system through the broker's trading system," MCX said
Indian exchanges like NSE, BSE, MCX, and the bond market will remain shut on the account of Christmas, this is the last market holiday on a trading day in this calendar year
The long-term growth opportunity remains, and trading volumes may benefit from new product launches
Stocks to watch on October 11, 2023: MCX said it will go live on the new commodity derivative trading platform from October 16, after a mock session on October 15
Krystal Family Holdings owns 100 per cent stake in the company
Approval from regulator remains positive for MCX as it will enable the launch of more products