Thursday, December 8

Tag: Commodities

Gold prices are down Rs 270 per kg, while silver is up Rs 60,000 per kg
Commodity

Gold prices are down Rs 270 per kg, while silver is up Rs 60,000 per kg

On Thursday morning, gold prices in India fell by Rs 270 per gramme. After a Rs 250 drop, 10 gramme of 24-carat gold is trading at Rs 51,440, while 10 gramme of 22-carat gold is trading at Rs 47,150. The drop in gold prices comes after the US Federal Reserve raised interest rates for the first time since 1994 and warned of economic concerns. Silver, on the other hand, has seen a price increase. After a 200-rupee hike, 1 kilogramme of silver now costs Rs 60,000. The price of a gramme of 24-carat gold is Rs 51,440 in Delhi, Mumbai, Kolkata, Bangalore, and Hyderabad. Meanwhile, a gramme of 22-carat gold costs Rs 47, 170 in Delhi, Bangalore, Bhubneshwar, and Mangalore. In Chennai, a gramme of 24-carat gold costs Rs 51,500 while a gramme of 22-carat gold costs Rs 47,200. In Delhi, ...
Today’s gold price is Rs 51,430 per 10 gm; silver is Rs 62,100 per kg
Commodity

Today’s gold price is Rs 51,430 per 10 gm; silver is Rs 62,100 per kg

The price of gold jumped by Rs 100 per 10 gramme on Tuesday, with 24-carat gold retailing at Rs 51,430. On Tuesday, the price of silver climbed by Rs 700 per kilogramme, to Rs 62,100 per kg. The price of 10 grammes of 22-carat gold increased by Rs 100 from the previous day's rate, with the metal retailing for Rs 47,150. In Delhi and Mumbai, the price of 10 grammes of 24-carat gold is the same as in Bengaluru, Hyderabad, and Kolkata, with the precious metal retailing for Rs 51,430 in these cities. In Delhi and Mumbai, the price of 10 grammes of 22-carat gold is comparable to the price of 10 grammes of 22-carat gold in Bengaluru, Hyderabad, and Kolkata, with the metal retailing for Rs 47,150 in these cities. However, the price of 10 kilos of 24-carat gold and 22 grammes of 22...
Gold Prices Today: Yellow metal in over-bought zone, likely to remain volatile amid Russia-Ukraine war
Commodity

Gold Prices Today: Yellow metal in over-bought zone, likely to remain volatile amid Russia-Ukraine war

Gold prices fell on March 9 in the international markets weighed down by a stronger dollar and rising US Treasury yields, while palladium gained on supply worries as western countries ramped up sanctions against Russia over its invasion of Ukraine. At 9.43 am, gold contracts jumped 1.37 percent at Rs 54,965 for 10 grams on the Multi-Commodity Exchange (MCX) and silver spiked 2.21 percent at Rs 72,960 a kilogram. Gold and silver rallied on Tuesday after the US banned Russian oil and gas imports. However, gold and silver were off the day's highs after a statement from President Volodymyr Zelenski that Ukraine was no longer seeking to be a member of NATO. Global equity markets rallied and profit-taking was seen in both precious metals from higher levels. Gold prices hit $2078.80 ...
Record rally in crude prices sends petrol up 30 paise, diesel 37 paise; LPG surges by Rs 15
Oil

Record rally in crude prices sends petrol up 30 paise, diesel 37 paise; LPG surges by Rs 15

By Administrator_India Capital Sands Fuel prices kept on breaking records with petrol being raised by 26 to 30 paise and diesel by 34 to 37 paise across the country on Wednesday on the back of crude oil soaring to 2014 highs in the international markets. The latest round of hike sent the petrol price in Delhi to its record high of Rs 102.94 a litre and to Rs 108.96 in Mumbai. Diesel rates, too, touched a record Rs 91.42 in Delhi and Rs 99.17 in Mumbai. In Kolkata, petrol prices soared to Rs 103.65 per litre and diesel prices to Rs 94.53 per litre on the day, while in Chennai, the fuels sold for Rs 100.49 a litre and Rs 95.93 a litre. Petrol and diesel prices differ across states, depending on the incidence of local taxes. Meanwhile, Mahanagar Gas increased the retail pric...
Oil falls a second day after IEA warns of slowdown in demand
Oil

Oil falls a second day after IEA warns of slowdown in demand

By Administrator_India Capital Sands Oil prices fell for a second day on Friday after the IEA warned that demand growth for crude and its products had slowed sharply as surging cases of COVID-19 worldwide has forced governments to revive restrictions on movement. Brent crude was down 31 cents, or 0.4%, at $71.00 a barrel by 0046 GMT, after dropping 13 cents in the previous session. U.S. crude was off by 33 cents, or 0.5%, at $68.76 a barrel, having fallen 0.2% on Thursday. The benchmarks are still heading for a slight gain this week. ”We now see the global demand recovery stalling this month with oil demand only reaching 98.3 million barrels per day (mbd) in August and averaging 97.9 mbd in September, on par with the nearly 98 mbd average in July,” JPM Commodities Research said...
Oil bulls take charge as demand outlook improves, Brent up a fifth day
Oil

Oil bulls take charge as demand outlook improves, Brent up a fifth day

By Administrator_India Capital Sands Oil prices rose on Wednesday, with Brent gaining for a fifth consecutive session, as falling stockpiles and a recovery in demand encouraged investors. Brent crude was up 69 cents, or 0.9%, at $74.68 a barrel by 0200 GMT, having risen 1.6% on Tuesday. U.S. crude gained 66 cents, or 0.9%, to $72.78 a barrel, after rising 1.7% in the previous session. "Even non-energy traders are placing bets that oil prices will continue to rise," said Edward Moya, senior market analyst at OANDA. "Everyone is turning overly bullish with crude prices. The crude demand outlook is very robust as recoveries across the US, Europe and Asia, will have demand return to pre-COVID levels in the second half of next year," Moya said. U.S. oil inventories dropped ...
Gold Treads Water as Investors Await U.S. Inflation Report
Gold

Gold Treads Water as Investors Await U.S. Inflation Report

By Administrator_India Capital Sands Gold steadied as investors await Thursday’s U.S. inflation report that may provide clues on the Federal Reserve’s monetary policy path. On Wednesday, the 10-year Treasury yield fell below 1.5% for the first time in a month, helped by a strong auction, while the rate on the U.S. long bond dropped to a level unseen since early March. This suggests that the Fed’s assurances that elevated inflation was probably temporary are gaining acceptance from investors. Traders are also awaiting the European Central Bank decision Thursday, with policy makers having all the evidence they need to keep in place their ultra-loose monetary stimulus, thanks in part to their opposite numbers at the Fed. Bullion has been largely treading water this week with in...
Oil prices rise as storm forms in Gulf, doubts emerge on Iran deal
Oil

Oil prices rise as storm forms in Gulf, doubts emerge on Iran deal

By Administrator_India Capital Sands Oil prices rose on Monday as a storm formed in the Gulf of Mexico and Iran said a three-month nuclear monitoring deal had expired, raising doubts about the future of indirect talks that could end U.S. sanctions on Iranian crude exports. Brent crude oil futures for July rose 32 cents, or 0.5%, to $66.76 a barrel by 0143 GMT, while U.S. West Texas Intermediate for July was at $63.93 a barrel, up 35 cents, or 0.6%. Oil prices fell last week after Iran's president, Hassan Rouhani, said the United States was ready to lift sanctions on his country's oil, banking and shipping sectors. "Iran's oil production has been rising in recent months, likely in anticipation of a lifting of the sanctions," ANZ analysts said in a note on Monday. However, ...
Oil rises on falling crude stocks, demand hopes on stimulus and vaccine rollouts
Commodity

Oil rises on falling crude stocks, demand hopes on stimulus and vaccine rollouts

By Administrator_India Capital Sands Oil rose in early trade on Wednesday on expectations global oil stocks will fall back to more normal levels this year and as U.S. lawmakers moved closer to approving President Joe Biden's $1.9 trillion COVID-19 aid bill without Republican support. U.S. West Texas Intermediate (WTI) crude futures climbed 11 cents, or 0.2%, to $54.87 a barrel at 0130 GMT, in a third straight day of gains. The benchmark hit a one-year high of A$55.26 on Tuesday. Brent crude futures rose 16 cents, or 0.3%, to $57.62 a barrel, in a fourth straight day of gains after hitting $58.05 on Tuesday, its highest in more than 11 months. Analysts said the market was buoyed by the latest assessment by the Organization of the Petroleum Exporting Countries and allies, toge...
Oil slips on demand worries as COVID-19 lockdowns tighten in Europe
Commodity

Oil slips on demand worries as COVID-19 lockdowns tighten in Europe

By Administrator_India Capital Sands Oil prices dipped in early trade on Tuesday, with demand worries due to tighter lockdowns in Europe outweighing relief from vaccination rollouts and concerns about a flare-up of tension in the Middle East. U.S. West Texas Intermediate (WTI) crude futures fell 16 cents, or 0.3%, to $46.83 a barrel at 0158 GMT, while Brent crude futures fell 20 cents, or 0.4%, to $50.09 a barrel, erasing half of Monday's gains. London stepped up restrictions requiring bars and restaurants to close, as COVID-19 infection rates continued to rise sharply, which will dent fuel demand in the near term. Further marring the demand outlook, Italy said it was considering more stringent restrictions over the Christmas holidays, while most stores in Germany have bee...