Commodity Update - Gold prices fell; Oil futures hit
September 10, 2019
Gold prices fell for a fourth straight session on Tuesday as risk appetite remained buoyed by better-than-expected economic data, which suggested that the global economy was perhaps not doing as badly as previously assumed.
Spot gold was down 0.6% at $1,490.48 per ounce, as of 0421 GMT, after hitting its lowest since Aug. 13 at $1,486 earlier in the session. Bullion prices have shed nearly 5% since hitting a more than 6-year peak of $1,557 on Sept. 4.U.S. gold futures fell 0.8% to $1,498.50 per ounce.
Oil futures hit a six-week high on Tuesday, rising for a fifth day on optimism that OPEC and other countries may agree to extend production cuts in a bid to support prices.
Brent was up 26 cents, or 0.4%, at $62.85 a barrel by 0349 GMT, while U.S. crude was 27 cents, or 0.5%, higher at $58.12 a barrel. Brent touched its highest since Aug. 1, while U.S. crude rose to the highest since July 31.
U.S. oil gained more than 2% on Monday, while Brent finished the day 1.7% higher as the market reacted to the appointment by Saudi Arabia's king of his son, Prince Abdulaziz bin Salman, as energy minister on Sunday.
Crude oil futures up on global cues -On the Multi Commodity Exchange, crude for delivery in September contracts was trading higher by Rs 44, or 1.09 percent to Rs 4,098 barrel in 28,192 lots.
Crude oil prices rose 1.09 percent to Rs 4,098 per barrel on Monday as speculators created fresh positions on firm global cues. Analysts said raising of bets by participants kept crude prices to trade higher here.
On the Multi Commodity Exchange, crude for delivery in September contracts was trading higher by Rs 44, or 1.09 percent to Rs 4,098 barrel in 28,192 lots.
GOLD PRICES | INDIAN ECONOMY | CRUDE OIL |
Labels
Commodity NewsCrude OilGold PricesMarket News
Labels:Commodity NewsCrude OilGold PricesMarket News
Comments
Maya AaliyahFebruary 11, 2020 at 4:35 PM
Good Post Keep it up thanks for sharing the information.
How long do you plan to invest? How much do you expect to earn on this investment?birla sunlife
sbi share future
aurobindo pharma candlestick chart
buy or sell
uti fund
kaya india
stock market gainers
canara bank exchange rateSee AlsoUS Lawmakers Accuse Gary Gensler of 'Hypocritical Mismanagement of SEC' — Say the Chairman 'Refuses to Practice What He Preaches' – Regulation Bitcoin News - newspaperswaleS&P 500 Hits Record High: Tech Stocks Soar as Fed Hints at Rate Cuts!EXCHANGE TRADING FUND (ETF) - StockIsyWhat does a securities and commodities broker do?Sadhana sMarch 13, 2020 at 3:09 PM
This is really an amazing one as lot of tips to pic. Great informations. Thanks for sharing.
Stocks in News
Rossari Biotech IPOHinduzaMarch 17, 2020 at 5:06 PM
Maya AaliyahJuly 12, 2020 at 5:37 PM
Good information. Thanks for sharing. If you want to know more about stock market related topics then visit
Simple Moving Average
Scalp trading
Commodity tradingpallaviOctober 20, 2020 at 2:34 PM
Thank you for sharing the informative article with us.
This post is helpful.
Online trading
international
Post a Comment
Popular posts from this blog
Market News - Silver opens above Rs 50,000 a kg in Mumbai, gold at Rs 39,000-plus
September 07, 2019
Standard gold opened at Rs 39,091 for 10 grams, trading for the first time above Rs 39,000. It closed at Rs 39,031. Including a three percent goods and services tax, the price is above Rs 40,000. After six years, silver is trading above Rs 50,000 a kilo in the physical market here. Its global prices at $19.4 an ounce is a three-year high. The global high comes amidst the uncertainties of Brexit, a trade war and slowing growth, with traders increasing their silver bets. At Zaveri Bazar, the spot market price opened at Rs 50,125 a kilo and closed a little lower at Rs 49,950 — still up four percent from Tuesday’s close. Gold prices fell by Rs 372 to Rs 39,278 per 10 gram in the national capital on Friday due to weak demand and strong rupee, according to HDFC Securities. In tandem with gold prices, silver also dropped by Rs 1,273 to Rs 49,187 per kilogram here. “Gold declined on weak investment demand and stronger rupee. The spot rupee gained by 21 paise against the dollar du
11 comments
Read more
RBI Monetary Policy- RBI repo rate cut to boost housing demand, NEFT to be made 24x7
October 04, 2019
The Reserve Bank of India’s Monetary Policy Committee (MPC), on Friday, cut key repo rate by 25 basis points (bps) to 5.15 percent, in its fourth bi-monthly MPC review meeting. Consequently, the reverse repo rate stands at 4.9 percent. The cut, a fifth in a row, was voted by a 5:1 majority. All members of the MPC voted to reduce the policy repo rate and to continue with the accommodative stance of monetary policy. Dr. Chetan Ghate, Dr. Pami Dua, Dr. Michael Debabrata Patra, Shri Bibhu Prasad Kanungo and Shri Shaktikanta Das voted to reduce the repo rate by 25 basis points. Dr. Ravindra H. Dholakia voted to reduce the repo rate by 40 basis points. NEFT to be made 24x7: The RBI, while announcing the repo rate decision, also clarified that the NEFT facility will be made available 24x7 on all working days starting December 2019. Here are the key highlights from the October MPC meeting GDP outlook revised: Highlighting the slowdown in the economy, the MPC cut the fisca
Post a Comment
Read more
Commodity Market - Oil prices extend losses, Gold rises for second straight day
October 16, 2019
Silver futures slumped by Rs 318 at Rs 44,908 per kg on October 16 as participants cut down their bets in line with sluggish trend at overseas markets. On the Multi Commodity Exchange, silver contracts for December delivery fell by Rs 318, or 0.70 percent, at Rs 44,908 per kg in a business turnover of 7,274 lots. Crude oil futures fell by Rs 27 to Rs 3,797 per barrel on October 16 after participants reduced positions even as oil strengthened in global markets. On the Multi Commodity Exchange, crude oil for delivery in October dropped by Rs 27, or 0.71 percent, to Rs 3,797 per barrel with a business volume of 34,024 lots. For November delivery, crude oil was quoting lower by Rs 33, or 0.86 percent, to Rs 3,811 per barrel with 1,350 lots. Gold prices jumped Rs 157 to Rs 38,644 per 10 gram in the Mumbai bullion market. The rate of 10 grams 22-carat gold in Mumbai was at Rs 35,398 plus 3 percent GST while 24-carat 10 gram was at Rs 38,664 plus GST. Silver gained Rs 41
14 comments
Read more