Live: What does the rising dollar mean for other currencies | Commodities Corner
The Dollar Index (DXY00) surged to its highest level in 4-1/2 months, ending with a gain of 0.48%. This uptick was initially fueled by last Friday's robust US February personal spending report, which boosted confidence in the dollar. Furthermore, Federal Reserve Chair Powell's remarks on Friday, indicating no rush to lower interest rates, provided additional support to the dollar. On Monday, the dollar continued its upward trajectory following the release of the stronger-than-expected March ISM manufacturing index, signaling a hawkish stance on Fed policy. In contrast, the Reserve Bank of India introduced regulations stating that exchange-traded rupee derivative transactions should solely serve hedging purposes. The Reserve Bank of India had previously announced in January that, effective April 5, exchanges would be allowed to offer forex derivative contracts involving the rupee for hedging contracted exposure. Watch this edition of Commodities Corner with Manisha Gupta and Amit Pabari, Founder & Managing Director, CR Forex.
Gold prices near all-time high — Key reasons for the surge and what lies next? | Commodities Corner
Gold prices are at an all time high above $2,250/oz after gaining 10% in Q1 of 2024. Strong gold retail buying in China & Turkey is one of the prominent reasons behind the price surge. Catch Manisha Gupta with more details
Agri Picks Report April 01, 2024: Geojit
According to Geojit, The area under rabi crops in Telangana was at 6.7 mln acres (1 acre = 0.40 ha) as of Wednesday, 8% lower than 7.3 mln acres a year ago, according to data from the state government.
Gold hits record high as soft US data cements June rate cut bets
Spot gold was up 1.2% at $2,258.71 per ounce, as of 0328 GMT, after hitting an all-time high of $2,259.49 earlier in the session. U.S. gold futures gained 1.8% to $2,279.10.
Oil holds onto gains as investors bet on tighter supply
Brent crude fell 17 cents, or 0.2%, to $86.83 a barrel by 0017 GMT after rising 2.4% last week. U.S. West Texas Intermediate crude was at $83.06 a barrel, down 11 cents, or 0.1%, following a 3.2% gain last week.
US labour report to determine second quarter sentiment for commodities next week
A strong labour market could diminish the likelihood of a June rate cut further, while any signs of cooling may prompt the Fed to act sooner to prevent an economic downturn.
Agri Picks Report March 28, 2024: Geojit
According to Geojit, Farmers in Gujarat have sown crops across 868,132 ha as of today for the 2023-24 summer season, down 3.5% from 900,034 ha in the corresponding period a year ago, according to data from the state agriculture department.
Oil prices advance as investors reassess US inventories data
Brent crude futures for May were up 29 cents, or 0.34%, at $86.38 a barrel while the more actively traded June contract rose 28 cents, or 0.33%, to $85.69 at 0041 GMT. The May contract expires on Thursday.
Agri Picks Report March 27, 2024: Geojit
According to Geojit, Farmers in Gujarat have sown crops across 868,132 ha as of today for the 2023-24 summer season, down 3.5% from 900,034 ha in the corresponding period a year ago, according to data from the state agriculture department.
Gold subdued as dollar firms, investors seek more Fed cues
Spot gold was down 0.1% at $2,176.29 per ounce, as of 0310 GMT. U.S. gold futures also edged 0.1% lower to $2,175.20.
Oil prices fall for a second day as US crude inventories increase
Brent crude futures for May dropped 69 cents, or 0.8%, to $85.56 a barrel at 0150 GMT. The May contract is set to to expire on Thursday and the more actively traded June contract declined 60 cents, or 0.7%, at $85.03.
Live: MCX hits record volumes on Gold F&O | Gold prices up by 7.5% | Commodities Corner
Live: MCX Hits Record Volumes on Gold F&O | Gold Prices Up By 7.5%. Watch Commodities Corner with Manisha Gupta and Rishi Nathani, Chief Business Officer, MCX for more details.
Agri Picks Report March 26, 2024: Geojit
According to Geojit, The Solvent Extractors' Association of India has urged the government to direct agencies to set up procurement centres at major mandis to procure mustard seed at the minimum support price.
Gold holds tight range as focus turns to US inflation data
Spot gold was flat at $2,170.59 per ounce, as of 0310 GMT. U.S. gold futures edged 0.2% lower to $2,171.20 per ounce.
Oil prices extend upward momentum on expectations of tighter supply
Brent crude rose 23 cents to $86.98 a barrel by 0118 GMT. U.S. crude futures climbed 28 cents to $82.23.
Commodity markets to focus on Fed Chair's speech, US PCE price index, Q3 GDP numbers this week
The potential for liquidity boosts in China, with room for lowering the reserve requirement ratio for banks, may provide some cushion for metals markets.
India consumes 4000 tons of Avocado’s per year| Reasons behind the rising demand | Commodities Corner
The avocado market in India is gaining traction thanks to the foodservice industry. The avocado has turned into a mainstream food in India. Global consumption has skyrocketed in the past decade. Asia pacific to lead global demand growth. India imports avocados from Tanzania, Peru, US. Mexico accounts for 30% global avocado output. Watch Commodities Corner with Manisha Gupta for more details
Agri Picks Report March 22, 2024: Geojit
According to Geojit, The National Commodity and Derivatives Exchange of India has decided to advance the expiry date of some farm futures contracts as voting for the general election is scheduled at the basis centres of the contracts on the earlier expiry date, it said in a release.
Gold set for fourth weekly gain in five on Fed rate-cut optimism
Spot gold was up 0.1% at $2,183.93 per ounce, as of 0117 GMT, after hitting an all-time high on Thursday. Bullion has risen 1.3% so far this week.
Oil prices ease on Gaza ceasefire possibility, dollar strength
Brent crude futures fell 18 cents to $85.60 a barrel by 0011 GMT. U.S. crude futures shed 19 cents to $80.88 per barrel.
Gold sprints to record high as Fed sticks to 2024 rate-cut projections| Commodities Corner
The rally in gold continues with prices hitting an all-time high. Strong physical demand for gold is also fueled by its appeal as a safe-haven asset and investors looking to diversify amid lackluster performances in other asset classes. Catch Manisha Gupta with more details
Agri Picks Report March 21, 2024: Geojit
According to Geojit, The Cotton Association of India has estimated the country's cotton output in 2023-24 (Oct-Sep) at 30.9 mln bales (1 bale = 170 kg), down 5.2% from last year's output, according to a press release.
Oil rebounds as US crude, gasoline stockpile drops provide some support
Brent crude oil futures contract for May settlement rose 0.6%, or 52 cents, at $86.47 a barrel at 0155 GMT, after falling 1.6% on Wednesday.
Gold jumps above $2,200 an ounce for first time on dovish Jerome Powell
Bullion advanced to a record in early trading, before paring gains. It’s surged since mid-February, underpinned by long-standing supports including heightened geopolitical risks and buying by central banks, led by China.
Agri Picks Report March 20, 2024: Geojit
According to Geojit, The area under summer crops in Maharashtra rose 10% on year to 278,687 ha as of Monday, according to data published by the state agriculture department.
