Here's a roundup of the key happenings in the commodities market, with a deep dive into some of the most active counters
At the Multi Commodity exchange, zinc for delivery in current month fell by 60 paise, or 0.30 per cent to Rs 199.75 per kg in business turnover of 470 lots.
At the Multi Commodity exchange, lead for delivery in the current month contracts was trading 35 paise down, or 0.24 per cent, at Rs 146.40 per kg in a business turnover of 231 lots.
At the Multi Commodity Exchange, silver for delivery in December fell by Rs 71, or 0.18 per cent, to Rs 38,788 per kg in a business turnover of 298 lots.
In futures trade at the Multi Commodity Exchange, gold for delivery in December shed Rs 116, or 0.36 per cent, at Rs 31,956 per 10 grams in a business turnover of 178 lots.
According to Angel Commodities, on Tuesday, spot gold prices rose by 0.2 2 percent to close at $1225 per ounce as investors take refuge in the safe haven on account weakness in the global equity markets.
Increase in gold imports pushed the country's trade deficit to $94.32 billion in April-September 2018-19 as against $76.66 billion in the same period last year.
Spot gold was up 0.2 percent at $1,227.31 an ounce at 0107 GMT. It was up about 0.7 percent for the week.
US West Texas Intermediate crude for October delivery was up 27 cents, or 0.4 percent, at $68.92 a barrel by 0124 GMT.
In February, Finance Minister Arun Jaitley had announced formulation of a comprehensive gold policy to develop gold as an asset class.
But US President Donald Trump has been a vocal critic of the Organisation of the Petroleum Exporting Countries, blaming it for high oil prices and urging it to increase output to relieve pressure on a market hovering around four-year highs.
The revised price for the two fuels in Mumbai now stands at Rs 88.08 per litre and Rs 79.24 per litre, respectively
US West Texas Intermediate crude for October delivery was up 17 cents, or 0.2 percent, at $69.92 a barrel by 0031 GMT, after falling 3 percent in the previous session to settle below $70 for the first time in a month.
One should look at buying on dips around $1220-$1180, on the domestic front we can look at buying around Rs 31,500-31,000 and hold for at least a year
According to Angel Commodities,On Tuesday, spot gold prices declined by 0.2 percent to close at $1224 per ounce on account of improving risk appetite and rally in global equity markets.
At the Multi Commodity Exchange, lead for delivery in the current month traded higher by five paise, or 0.03 per cent, to Rs 150.95 per kg in a business turnover of 2,029 lots.
The precious metal to be delivered in November contracts also fell by Rs 60, or 0.19 per cent, to quote at Rs 31,641 per ten gram with a business volume of 23,444 lots.
At the Multi Commodity Exchange, copper for delivery in November eased by 75 paise or 0.17 per cent to Rs 451.80 per kg in a business turnover of 12,076 lots.
Silver for delivery in December was trading lower by Rs 72, or 0.19 per cent, at Rs 38,792 per kg in a business turnover of 23,444 lots at the Multi Commodity Exchange (MCX).
At the Multi Commodity Exchange, crude oil for delivery in October contracts rose by Rs 6, or 0.11 per cent to Rs 5,288 per barrel in a business turnover of 8,340 lots.
Spot gold was up 0.1 percent at $1,224.70 an ounce at 0100 GMT. On Monday, it touched its highest since July 26 at $1,233.26 an ounce..
Brent crude was up 36 cents, or 0.4 percent, at $81.77 a barrel, after settling up 63 cents the session before.
While Flipkart and Amazon kicked off their festive sales starting October 10, offline players are also gearing up to offer interesting deals for consumers.
Gold touched $1,233.26 on Monday, its highest since July 26, as global stocks slid on rising tensions between Western powers and Saudi Arabia and concerns over the pace of global economic growth. Asian stocks rose modestly on Tuesday, gaining a firmer footing after a week of heavy losses.
According to Angel Commodities, expect gold prices to trade higher today, international markets are trading flat at D1225 per ounce. Geo - political risk between US and Saudi, rising gold holdings in the SPDR gold trust are near term push factors.