Tag: MCX
Fears of a US recession cause crude oil to fall below $80 per barrel
As the market anticipated a possible U.S. recession in 2023, crude oil futures dropped below $80 a barrel on Wednesday morning. On the Multi Commodity Exchange (MCX), December crude oil futures were trading at $6,177 in the first hour of trading on Wednesday morning, up from the previous close of $6,153 by 0.39 percent, and…
Dollar declines as gold prices climb and U.S.Fed comments turn dovish; resistance is at Rs 53000
Gold rate was positive on Thursday as a result of positive global trends, while the silver rate was up 1.16%. The price of gold December futures on the Multi Commodity Exchange was up Rs 244 or 0.47% at Rs 52,695 for a ten-gram contract. Silver December futures were trading Rs. 715 higher at Rs. 62,345…
Yellow metal could remain erratic as investors pay attention to U.S. retail sales data
Gold prices slightly declined on Monday from a three-month high reached in the previous session as the dollar and U.S. government yields increased in response to a top U.S. central banker’s warning that the Federal Reserve is not yet “softening” its fight against inflation. After reaching its highest level since August 18 on Friday, spot…
Today’s gold prices: Precious metals will rise as the US currency weakens; purchase on declines
Gold prices were little changed on Wednesday in the international markets, remaining close to a one-month high achieved in the previous session. gold was down 0.1% at $1,709.80 per ounce. US gold futures decreased by 0.1% to $1,714.10. On the Multi-Commodity Exchange (MCX), gold contracts were trading 0.16% higher at Rs 51,545 for 10 grams…
Gold prices today: The support level is Rs. 50,300 as the hawkish Fed maintains pressure on precious metals
While U.S. Federal Reserve Chair Jerome Powell’s hawkish comments restrained additional gains in zero-yielding bullion, gold prices crept up on Thursday in the foreign markets, helped by a modest decline in the dollar.After losing 0.8 percent on Wednesday, spot gold increased 0.2 percent to $1,638.32 per ounce. U.S. gold futures decreased 0.6 percent to $1,640.70….
Due to supply issues, the price of MCX crude oil may reach Rs 7800/bbl in three months
Oil and gas geopolitics, which are a function of supply and demand, are becoming more volatile. Geopolitical conflicts or war in an energy-producing nation have a major impact on crude oil prices. Energy security, the balance of power between energy importers and exporters, and the military might of key states are all being affected. After…
Yellow metal will remain range-bound today, with resistance centered around Rs. 52,210-52,350
Gold prices ticked lower on Monday in the international markets having shed nearly 1 percent in the previous session, as strong U.S. jobs data cemented the view that the Federal Reserve would continue its policy of aggressive interest rate hikes. U.S. gold futures were down 0.4 percent at $1,703.4 while spot gold was down 0.1…
Gold Price Today: MCX Gold set to hit Rs 52,000, silver tops Rs 61,600
On Friday, the gold rate in India stayed largely unchanged as the yellow metal remained stable in the worldwide market. Gold December futures on the Multi Commodity Exchange were trading flat with a bearish bias at Rs 51,965 per 10 grams. On the MCX, silver December futures were trading at Rs 61,600 per kilogram, up…
Crude oil rules around $85/barrel on-demand view worries
Crude oil futures were trading at about $85 per barrel on Monday, after falling by almost 6% over the previous week. November crude oil futures on WTI were at $78.30, down 0.56 percent, while November crude oil futures on Brent were at $85.61, down 0.63 percent, both as of 10:02 a.m. On the Multi Commodity…