Sandeep Sinha

Senior Sub-Editor

Moneycontrol News

Silver futures slide to Rs 66,932 per kg on weak global cues, firm dollar

BUSINESS

Silver futures slide to Rs 66,932 per kg on weak global cues, firm dollar

The white metal extended decline in the afternoon session after a gap-down start tracking losses in gold.

Natural gas up 0.54% to Rs 187.60 per mmBtu in the afternoon session

BUSINESS

Natural gas up 0.54% to Rs 187.60 per mmBtu in the afternoon session

The commodity has been trading higher than its 5, 20 and 200-day moving averages but lower than the 50 and 100-day moving average on the daily chart. The Relative Strength Index is at 46.89, which indicates weak momentum.

Copper futures up 0.7% to Rs 694.15 per kg on weak dollar; sentiments positive

BUSINESS

Copper futures up 0.7% to Rs 694.15 per kg on weak dollar; sentiments positive

The non-ferrous metal has been trading higher than 5, 20, 50, 100 and 200 days' moving averages on the daily chart. The Relative Strength Index (RSI) is at 60.15 which indicates bullish momentum in prices.

Cotton futures rise 1.06% to Rs 21,840 per bale, momentum bullish

BUSINESS

Cotton futures rise 1.06% to Rs 21,840 per bale, momentum bullish

The soft commodity has been trading higher than 5, 20, 50, 100 and 200 days’ moving averages on the daily chart. The Relative Strength Index (RSI) is at 56.89 which indicates bullish momentum in prices.

Gold prices rise for 5th consecutive day to Rs 46,411/10 gm, silver up Rs 1,187 a kg

BUSINESS

Gold prices rise for 5th consecutive day to Rs 46,411/10 gm, silver up Rs 1,187 a kg

The gold/silver ratio currently stands at 69.04 to 1, which means the number of silver ounces required to buy one ounce of gold.

Crude oil falls 0.34% to Rs 4,429/barrel on demand concerns, Brent trades below $63

BUSINESS

Crude oil falls 0.34% to Rs 4,429/barrel on demand concerns, Brent trades below $63

Weighing on crude price is stability in US dollar post FOMC minutes, rising virus cases, efforts to ease US-Iran tensions and OPEC’s decision to raise output in the coming months.

Silver futures jump 0.53% to Rs 66,990 per kg; experts see further upside

BUSINESS

Silver futures jump 0.53% to Rs 66,990 per kg; experts see further upside

The $25 level is an area that a lot of people will be paying close attention to, since it is a psychologically significant figure, say analsysts.

Natural gas futures dip over 1% to Rs 187 per mmBtu ahead of inventory report

BUSINESS

Natural gas futures dip over 1% to Rs 187 per mmBtu ahead of inventory report

The commodity has been trading lower than 5, 20, 50, 100 and 200 days' moving averages on a daily chart. The Relative Strength Index (RSI) is at 44.44 which indicates bearish momentum in the prices.

Zinc price up 0.89% to Rs 220.25 per kg on weak dollar; resistance seen at Rs 223.50

BUSINESS

Zinc price up 0.89% to Rs 220.25 per kg on weak dollar; resistance seen at Rs 223.50

The non-ferrous metal has been trading higher than 5, 20, 50, 100 and 200 days' moving averages on the daily chart. The Relative Strength Index (RSI) is at 51.05 which indicates positive momentum in prices.

Copper futures jump 2.34% to Rs 685.05 per kg on feedstock shortage concerns

BUSINESS

Copper futures jump 2.34% to Rs 685.05 per kg on feedstock shortage concerns

The price is trading firm on concern over limited supplies of refined copper after data showed a fall in global smelting activity owing to a shortage of feedstock.

Gold prices rise to Rs 45,259/10 gm on sharp fall in rupee, silver surges by Rs 1,225 a kg

BUSINESS

Gold prices rise to Rs 45,259/10 gm on sharp fall in rupee, silver surges by Rs 1,225 a kg

"The broader range on COMEX could be between $1710- $1740 and on the domestic front, prices could hover in the range of Rs 45,150- Rs 45,700," said Navneet Damani, Vice President, Motilal Oswal Financial Services (MOFSL).

Cotton futures firm at Rs 21,400 per bale on positive global trend

BUSINESS

Cotton futures firm at Rs 21,400 per bale on positive global trend

The recent fall in ICE and ZCE Cotton futures, huge carry over stock from last season may also add in negative sentiments in cotton, Vyas added.

Crude oil dips 2.08% to Rs 4,420 per barrel on weak demand outlook, higher supply

BUSINESS

Crude oil dips 2.08% to Rs 4,420 per barrel on weak demand outlook, higher supply

Crude oil prices traded weak on demand outlook worries and ease in OPEC plus output cuts.

Silver futures fall 0.48% to Rs 64,775 per kg on firm dollar

BUSINESS

Silver futures fall 0.48% to Rs 64,775 per kg on firm dollar

A direct rise above $25.20 likely to continue rallies towards $26.50 or more. Else, expect a choppy with mild negative bias trading for the day.

Natural gas futures decline 2.73% to Rs 188.90 per mmBtu on weak demand

BUSINESS

Natural gas futures decline 2.73% to Rs 188.90 per mmBtu on weak demand

The commodity has been trading higher than 20 and 200 days' moving averages but lower than the 5, 50 and 100 days’ moving average on a daily chart. The Relative Strength Index is at 45.86, which indicates weak momentum in the prices.

Copper price flat for the week at Rs 669.25 per kg; check outlook and strategy for the coming week

BUSINESS

Copper price flat for the week at Rs 669.25 per kg; check outlook and strategy for the coming week

Copper prices were under some pressure for March month with higher dollar and spiking US bond yields, but losses were capped by supply worries fuelled by shortages of concentrates.

Gold loan book may see a correction in H1; expect 20-25% industrial growth: Indel Money

BUSINESS

Gold loan book may see a correction in H1; expect 20-25% industrial growth: Indel Money

The company currently has assets under management (AUM) of Rs 650 crore and expecting a growth of 30 percent.

Gold rises 0.28% to Rs 44,865/10 gm this week; check key events, trading strategy for next week

BUSINESS

Gold rises 0.28% to Rs 44,865/10 gm this week; check key events, trading strategy for next week

The yellow metal rebounded on dollar debasement after US President Joe Biden unveiled a multi-trillion infrastructure plan on March 31. The rising virus cases in Europe and fear of lockdown measures also supported gold prices during the week.

Silver price up 0.44% for the week to Rs 65,040 per kg; expert suggests buying on dips strategy

BUSINESS

Silver price up 0.44% for the week to Rs 65,040 per kg; expert suggests buying on dips strategy

The gold/silver ratio is currently trying to settle below the 70 levels. If this attempt is successful, gold/silver ratio will move towards the 69 levels which will be bullish for silver, said Kshitij Purohit of CapitalVia Global Research Limited.

Crude oil rises 1.30% on MCX this week; outlook brightens on US infra plan, OPEC+ gradual hike

BUSINESS

Crude oil rises 1.30% on MCX this week; outlook brightens on US infra plan, OPEC+ gradual hike

Many of the big commodity funds have taken to the sidelines ahead of the long Easter holiday weekend, resulting in low volume.

Interview| Demand for fossil fuels is here to stay; oil demand will peak only around 2040: S&P Global Platts

BUSINESS

Interview| Demand for fossil fuels is here to stay; oil demand will peak only around 2040: S&P Global Platts

India did take the opportunity to fill up the remaining tanks of its Strategic Petroleum Reserves (SPR) when oil prices plunged back in early 2020, so it has benefited from lower oil prices, Lim noted.

MCX Natural gas futures surge 4.47% to Rs 194 per mmBtu this week, outlook bearish

BUSINESS

MCX Natural gas futures surge 4.47% to Rs 194 per mmBtu this week, outlook bearish

Subramaniam said that the US CPC further expects warmer weather conditions for the next 6-10 days in this spring season which is expected to bring pressure in prices during the week ahead.

Nickel futures rise nearly 1% to Rs 1,195.60 per kg, outlook bullish

BUSINESS

Nickel futures rise nearly 1% to Rs 1,195.60 per kg, outlook bullish

The plan to rebuild America’s crumbling infrastructure proposes doubling federal funding for mass transit and spending $80 billion to expand and modernise passenger rail service; estimated to support global base metal prices, said Subramaniam.

Copper futures flat at Rs 668.05 per kg as dollar retreats

BUSINESS

Copper futures flat at Rs 668.05 per kg as dollar retreats

The non-ferrous metal has been trading higher than 50, 100 and 200 days' moving averages but lower than 20 and 5 days’ moving average on the daily chart. The Relative Strength Index (RSI) is at 48.23 which indicates sideways momentum in prices.

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