Spot gold eased 0.1% to $2,753.14 per ounce by 0852 GMT, trading in a tight range of $8. Prices hit their highest since October 31 on Wednesday
According to Geojit Financial Services, The rabi sowing in Andhra Pradesh has progressed to 1.3 million hectares as of Thursday, up 18% on year from 1.1 million hectares in the corresponding period last year, according to a report released by the state agriculture department.
HUL said the company aims to build supply chain resilience for palm derivatives, and will build infrastructure for palm oil collection and processing.
Last year, the MSP on raw jute had been raised for the 2024-25 season as well by Rs 285 to Rs 5,335 per quintal.
According to Geojit Financial Services, The rabi sowing in Andhra Pradesh has progressed to 1.3 million hectares as of Thursday, up 18% on year from 1.1 million hectares in the corresponding period last year, according to a report released by the state agriculture department.
Trump's declaration of a national energy emergency, in an effort to boost oil and gas production triggered a sharp fall in crude oil prices, with Brent falling below $80 per barrel and West Texas Intermediate near $77.
According to Geojit Financial Services, Sowing of rabi crops in Karnataka as of Dec. 31 rose by nearly 12% on year to 2.4 million hectares from 2.2 million hectares in the corresponding period last year, according to a report released by the state agriculture department.
According to Geojit Financial Services, India’s oilmeal exports dropped by 25% year-on-year to 398731 tonnes in December, while total exports for Apr-Dec fell 10% to 3.15 million tonnes, according to the Solvent Extractors' Association of India.
For the week ended January 10, foreign currency assets, a major component of the reserves, decreased by USD 9.469 billion to USD 536.011 billion, the data released on Friday showed.
India imported 4.84 million barrels per day of oil in 2024, up 4.3% from the previous year, the data showed.
Spot gold was flat at $2,715.09 per ounce, as of 0332 GMT. Bullion has gained about 1% so far this week.
According to Geojit Financial Services, Though the El Nino–Southern Oscillation is currently in the 'La Nina Watch' range, the possibility of La Nina emerging between February and July is unlikely, the APEC Climate Center said in a report Wednesday.
Brent crude futures rose 13 cents, or 0.2%, to $81.42 per barrel by 0113 GMT, after declining 0.9% in the previous session.
Analysts said concerns over geopolitical uncertainties are likely to add volatility in the dollar and crude until the US gets a new administration under President Donald Trump next week.I
According to Geojit Financial Services, In the 2024-25 (Oct-Sept) season, mills in India have produced 13.1 million tonnes of sugar as of Wednesday, down 13.7% from 15.1 million tonnes produced in the same period a year ago, according to data from the National Federation of Cooperative Sugar Factories.
Chinese demand for steel and iron ore has finally peaked. The industry hopes the energy transition will spark a new boom, but it will be shaped by geopolitical competition
According to Geojit Financial Services, Rabi sowing across the country as of Friday was 63.2 million hectares, up just 0.1% from last year, according to data from the Department of Agriculture and Farmers Welfare.
According to Geojit Financial Services, Farmers in Andhra Pradesh have sown rabi crops across 1.2 million hectares as of Wednesday, up nearly 21% from 999,000 hectares a year ago, according to a release by the state agriculture department.
Looking ahead, commodity markets are now focused on upcoming US inflation and retail sales data for further guidance on monetary policy.
Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves.
According to Geojit Financial Services, The El Nino–Southern Oscillation in the tropical Pacific is neutral and there is some possibility of a La Nina event in the first two months of the year, the Australian Bureau of Meteorology said in its fortnightly forecast on Wednesday.
The government has revised gold import data, bringing down numbers for November by $5 billion to $9.84 billion
According to Geojit Financial Services, Farmers in Maharashtra have sown rabi crops over 6.1 million hectares as of Monday, up 20.1% on year from 5.1 million hectares sown in the same period last year, according to a release by the state agriculture government.
The surge in gold import that widened India’s trade deficit to a record in November and pushed Rupee to an all-time low was reportedly due to an error in calculation.
A revocation would be another step by the world’s leading grain and sugar producer to ease pandemic-era restrictions on several farm goods.
