Gold prices fall on US inflation news, Fed rate cut
Gold prices fell 0.2% to ₹96,704 per 10 grams after weaker-than-expected US inflation data. Core inflation was 2.8% in May, while headline inflation was 2.4%, lower than the expected 2.5%. This led many traders to book profits. However, the low inflation has increased expectations that the US Federal Reserve may cut interest rates in early…
India’s rice exports drop on weak global demand.
India’s rice exports fell nearly 60% in April-May 2025 due to weak global demand and high inventories among buyers. Prices have dropped to multi-year lows, with 5% broken white rice hitting a five-year low of $384/tonne. Despite lifting export curbs in late 2024, the global rice market remains oversupplied, depressing prices. Surplus production and record…
India’s spice exports surge to $4.72 bn in FY25.
India’s spice exports reached a record $4.72 billion in FY25, up 6% from the previous year, driven by strong global demand for cumin, turmeric, spice oils, and pepper. Despite a price dip, chili remained the top export in terms of volume and value. Turmeric exports surged 51% in value, while pepper and small cardamom also…
Jeera rises on domestic buying despite weak exports.
Jeera prices rose by 0.43% to ₹19,840, driven by lower-level buying from domestic participants despite subdued export demand. The price rise was due to inactivity from foreign buyers and pressure from comfortable supplies. Total arrivals in key mandis increased to 32,900 bags, adding supply-side pressure. The start of the new cumin crop in Gujarat and…
Gold falls 1% as strong US jobs data dims rate cut hopes.
Gold prices fell over 1% on Friday due to a stronger-than-expected US jobs report, which dampened hopes for Federal Reserve rate cuts this year. Spot gold fell 1.1% to $3,316.13 an ounce, but rose 0.8% for the week so far. U.S. gold futures settled 0.8% lower at $3,346.60. The Labor Department report showed that non-farm…
India’s foreign exchange reserves fall $1.24 billion to $691.485 billion, according to the RBI.
The RBI announced on Friday that India’s foreign exchange reserves for the week ending May 30 had decreased by $1.237 billion to $691.485 billion. At $692.721 billion, the total reserves had increased by $6.992 billion during the previous reporting week. In late September 2024, the foreign exchange reserves reached a record high of $704.885 billion….
Cotton falls on higher output estimates.
Cotton candy prices fell by 0.58% to 53,600, driven by a slight upward revision in India’s cotton production estimates and tepid trade sentiment. The Cotton Association of India (CAI) raised the country’s output projection slightly to 291.35 lakh bales for the 2024-25 season, mainly due to higher production in Odisha. However, the cotton trade remains…
Gold prices rise on weak US economic data!!!
Gold prices rose 0.88% to close at ₹98,579 today as investors turned more cautious after a series of weak economic reports from the US. The latest jobs report (JOLTS) showed that 7.39 million jobs were added in April. While the figure was higher than expected, it still showed uncertainty in the job market. Comments from…
Jeera falls on weak buying and exports.
Jeera futures fell by 1.85% to close at ₹19,880 due to sluggish domestic and export demand, rising arrivals in key mandis, and subdued export demand. Total mandi arrivals increased to 32,900 bags, creating supply-side pressure. Export demand remains subdued, with current requirements being met from existing inventories. Production for the current season is expected to…
Turmeric prices fall on high supply!!!
Turmeric prices fell marginally by 0.25% to ₹13,778 on weak export orders and a surge in the market. Over 57,500 quintals were brought in, almost three times more than the previous day, which pushed down prices. However, prices may not fall much as concerns remain over lower production and lower supply. About 3.30 lakh hectares,…
