According to Geojit , Southwest monsoon current has advanced over some more parts of south Bay of Bengal, covered most of Andaman and Nicobar Islands along with Andaman Sea and also some parts of eastcentral Bay of Bengal today, the India Meteorological Department said in a release.
Spot gold held its ground at $1,825.66 per ounce, as of 0046 GMT. U.S. gold futures gained 0.6% to $1,825.00.
Brent crude futures fell 35 cents, or 0.3%, to $113.89 a barrel at 0004 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 52 cents, or 0.5%, to $113.68 a barrel.
Global wheat prices are at a two-month high as India has banned the export of the grain. Prices of wheat in India are also at an all-time high. Catch Karunya Rao in conversation with Manisha Gupta as they discuss its impact on the bakery business.
Diversification of forex assets, away from the dollar, has gained popularity after Russia’s invasion of Ukraine invited international sanctions against the former
Brent crude futures were down $1.66, or 1.5%, at $109.89 a barrel at 0356 GMT, while U.S. West Texas Intermediate (WTI) crude futures dropped $1.55, or 1.4%, to $108.94 a barrel.
Gold may witness some more correction to trade near the levels of Rs 49500 in coming weeks. Higher inflation and geopolitical volatility are supporting gold prices, but various physical tightening measures by central banks to curb inflation and stronger dollar are pushing gold to lower levels, said Ravi Singh - Vice President and Head of Research at ShareIndia.
According to Geojit , The southwest monsoon is likely to reach Kerala on May 27, five days earlier than the usual Jun 1 timeline, the India Meteorological Department said.
Brent crude futures were down 64 cents, or 0.6%, at $110.91 a barrel at 0137 GMT, while U.S. West Texas Intermediate (WTI) crude futures dropped 60 cents, or 0.5%, to $109.89 a barrel.
Spot gold was up 0.3% at $1,815.69 per ounce, as of 0057 GMT. U.S. gold futures gained 0.2% to $1,812.20.
Overall, risk sentiment is quite weak currently and commodities and equities, which were performing quite well for the last few months, have come under selling pressure.
Tapan Patel, Senior Analyst (Commodities), HDFC Securities expects gold prices to trade sideways to down for the day with COMEX Spot gold support at $1800 and resistance at $1840 per ounce. MCX Gold June support lies at Rs 49800 per 10 gram and resistance at Rs 50600 per 10 gram.
According to Geojit , The Commission for Agricultural Costs and Prices has recommended repeal of the cane area reservation and minimum distance criteria so that farmers can choose the mill they want to sell their produce to, two senior government officials told Informist.
Cryptocurrencies continue to crash. Bitcoin falls to 16-month low triggered by the collapse of Terra stablecoin. Watch Karunya Rao And Manisha Gupta decode the fall of the cryptos and the way forward
Higher inflation makes safe havens more appealing, driving up demand for precious metals. However, rising interest rates will limit gold's gains, and selling pressure is predicted in today's session at higher levels, said Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart.
Brent crude futures slipped $1.25, or 1.2%, to $106.26 a barrel by 0303 GMT. WTI crude futures fell $1.24, or 1.2%, to $104.47 a barrel.
According to Geojit , Sugar production by mills in Brazil's centre-south region fell by 38.7% on year to 934,000 tn during Apr 16-30, UNICA, the country's sugarcane industry association, said in a report.
A weaker dollar makes gold attractive for overseas buyers, while lower Treasury yields reduce the opportunity cost of holding zero-yield bullion.
Rubber prices are down 8% from last month. Join Karunya Rao in conversation with Manisha Gupta to know why and how it will impact you.
As investors await US inflation data, day trend in gold and silver may remain range-bound to the downside, said Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart.
Spot gold was down 0.1% at $1,838.26 per ounce, as of 0330 GMT, after hitting its lowest since Feb. 11 earlier in the session. U.S. gold futures dipped 0.2% to $1,836.50.
According to Geojit , The Securities and Exchange Board of India withdrew the permanent recognition granted to the Indian Commodity Exchange Ltd as an exchange due to non-compliance to several guidelines and regulations.
Commodity stocks seems to be in for a rough ride! What should you do after the crash in metals? Catch Santo & CJ as they focus on the commodity space today.
Brent crude was down 86 cents, or 1.1%, at $101.60 a barrel by 0002 GMT. U.S. West Texas Intermediate crude fell 80 cents, or 0.8%, to $98.96 a barrel.
Catch Karunya Rao in conversation with Manisha Gupta as they tell you why Bitcoin is at 10-month lows, and what caused the fall in metals, gold & other commodities