Here is a roundup of all the key happenings from the commodities market.
Geopolitical tensions in the Middle East, US-China trade conflict, uncertainty around Brexit and the global slowdown have helped the yellow metal embark on its latest rally
Ont he MCX, crude oil for delivery in July contracts was trading higher by Rs 64, or 1.59 percent, to Rs 4,100 per barrel with a business turnover of 18,036 lots.
Spot gold was up 0.3% at $1,336.45 per ounce, as of 0309 GMT. US gold futures were also 0.3% higher, at $1,340.10 an ounce.
At the MCX, silver contracts for July delivery dipped by Rs 16, or 0.58 percent, to Rs 36,525 per kg, clocking a business volume of 23,663 lots.
Spot gold was down 0.9% at $1,328.08 per ounce, as of 0530 GMT. In the previous session, the bullion hit its highest since April 19, 2018 at $1,348.08 an ounce.
The expectation in global markets is that sugar prices may build up on their gains
Brent crude oil futures were at $70.29 per barrel, 41 cents, or 0.6 percent.
On the MCX, crude oil for delivery in May contracts was trading higher by Rs 63, or 1.43 percent, to Rs 4,472 per barrel in a business turnover of 13,425 lots.
At the MCX, copper for delivery in June contracts rose by 20 paise, or 0.04 percent, to Rs 450.55 per kg in a business turnover of 10,179 lots.
On the MCX, gold for delivery in June eased by Rs 174, or 0.52 percent, to Rs 31,765 per 10 gram in a business turnover of 12,119 lots.
At the MCX, silver for delivery in July contracts was trading lower by Rs 356, or 0.93 percent, to Rs 37,756 per kg, in a business turnover of 18,890 lots.
Silver for delivery in May contracts traded higher by Rs 88, or 0.23 percent, to Rs 37,545 per kg in a business turnover of 9,612 lots on the MCX.
Gold to be delivered by June contracts was trading higher by Rs 27, or 0.08 percent, at Rs 31,938 per 10 gram in a business turnover of 13,053 lots at the MCX.
In this video, CNBC TV18 Commodities Editor Manish Gupta gives us a better picture about the production targets.
At the MCX, gold for delivery in June traded lower by Rs 15, or 0.05 percent, at Rs 31,581 per 10 gram in a business turnover of 14,014 lots.
On the MCX, silver for delivery in May edged higher by Rs 132, or 0.35 percent, to Rs 37,342 per kg in a business turnover of 20,891 lots.
On the MCX, gold for delivery in June contracts traded higher by Rs 103, or 0.33 percent, to Rs 31,583 per 10 gram in a business turnover of 14,275 lots.
On the MCX, crude for delivery in April fell by Rs 23, or 0.52 percent, to Rs 4,415 per barrel in a business volume of 15,285 lots.
At the MCX, nickel for delivery in April fell by Rs 13.30, or 1.49 per cent, to Rs 879.10 per kg in a business turnover of 12,630 lots.
At the MCX, lead for delivery in April was trading lower by 45 paise, or 0.34 per cent, to Rs 133.65 per kg in a business turnover of 6,527 lots.
At the MCX, copper for delivery in April shed Rs 7.95, or 1.75 per cent, to Rs 447.15 per kg in a business turnover of 12,087 lots.
At the MCX, zinc for delivery in May declined by Rs 2.75, or 1.22 per cent, to Rs 221.80 per kg in a business turnover of 1,022 lots.
In the national capital, gold of 99.9 percent and 99.5 percent purities gained by Rs 170 each to Rs 32,790 and Rs 32,620 per 10 gram, respectively.
At the MCX, copper for delivery in June rose by 45 paise, or 0.1 percent, to Rs 455.10 per kg in a business turnover of 1,757 lots.