Unfavourable weather conditions are leading to a sharp decline in projected sugar output for the ongoing season, while flat realisations for certain feedstock-based varieties of ethanol dampens expectations on that front too
According to Geojit Financial Services, Farmers in India have sown rabi crops over 66.10 million hectares as of Friday, up 1.5% from a year ago, according to data from the Department of Agriculture and Farmers' Welfare.
Saudi Aramco, the world's leading oil exporter, on Wednesday announced it would sharply increase prices to buyers in Asia for March delivery amid rising demand from China and India as U.S. sanctions disrupt Russian supply.
Bullion held above $2,865 an ounce — having added 0.9% on Wednesday — after President Donald Trump said the US could take over Gaza
Bullion reached an all-time peak of $2,849.05 an ounce on Wednesday
Spot gold was up 0.3% to $2,820.69 per ounce by 0252 GMT, after hitting a record high of $2,830.49 in the last session
According to Geojit Financial Services, The Union Budget for 2025-26 (Apr-Mar) announced the launch of the PM Dhan-Dhaanya Krishi Yojana, a comprehensive programme aimed at boosting rural prosperity and resilience.
Commodity markets are now focused on the upcoming US jobs report, particularly given Powell’s emphasis that future rate decisions will remain data-dependent.
On the Multi Commodity Exchange, gold contracts for April delivery hit a record high of Rs 83,360 per 10 grams in early trade.
According to Geojit Financial Services, The Economic Survey for 2024-25 (Apr-Mar), tabled in Parliament by Finance Minister Nirmala Sitharaman on Friday, noted that challenges such as climate change and water scarcity threaten the stability of India's agricultural sector and require targeted, region-specific interventions.
In futures trade, gold contracts for February delivery appreciated by Rs 487 or 0.6 per cent to hit another record high of Rs 82,210 per 10 grams on the Multi Commodity Exchange (MCX).
The reserves rose by $5.58 billion in the reported week, the biggest increase in four months. They had fallen cumulatively by more than $34 billion in the prior seven weeks.
According to Geojit Financial Services, India received an average rainfall of 0.2 millimetres in the week ended Wednesday, 95% below the normal of 4.5 mm for the period, the India Meteorological Department said.
Spot gold was up 1.4% at $2,796.15 per ounce, as of 11:07 a.m. (1603 GMT), hitting its record high level at $2798.24 earlier in the session. U.S. gold futures climbed 2% to $2,824
According to Geojit Financial Services, Sowing of rabi crops in Gujarat as of Monday rose 5.5% on year to 4.9 million hectares, 5% higher than the normal area, according to a release by the state agriculture department.
According to Geojit Financial Services, The northeast monsoon completed its withdrawal from India Monday, over 10 days beyond its schedule, the India Meteorological Department said.
Benchmarks fell to multi-week lows early this week as news of surging interest in Chinese startup DeepSeek's low-cost artificial intelligence (AI) model prompted concerns over energy demand to power data centres, rattling the overall energy sector, while weak economic data from China further soured the demand outlook.
Brent crude, the global oil benchmark, rose 0.52 per cent to USD 77.48 per barrel in futures trade.
According to Geojit Financial Services, The northeast monsoon completed its withdrawal from India Monday, over 10 days beyond its schedule, the India Meteorological Department said.
According to Geojit Financial Services, The sowing of rabi crops in Andhra Pradesh has progressed to 1.5 million hectares as of Wednesday, up 18.1% on year from 1.3 million hectares sown in the corresponding period last year, according to a report released by the state's agriculture department.
Looking ahead, commodity markets will turn their attention to key central bank decisions. The Federal Reserve is widely expected to hold interest rates steady in its upcoming meeting, while the European Central Bank (ECB) is anticipated to cut rates by 25 basis points.
The current bullish momentum in gold is driven by uncertainty surrounding the potential US tariffs plan and other policies from President Donald Trump,
The dollar/rupee forward premiums, meanwhile, extended declines this week, as the Reserve Bank of India conducted buy/sell swaps alongside its spot intervention.
Crown Prince Mohammed Bin Salman in his call with President Trump said the kingdom was keen to explore partnership and investment into opportunities created by new administration’s proposed reforms.
According to Geojit Financial Services, Gujarat's cotton production in the 2024-25 kharif season is likely to fall by 23.5% to 7.1 million bales (1 bale = 170 kg) from 9.2 million bales last year, according to the second advance estimates of area, production, and yield released by the state's agriculture department.
