Gold prices edged higher on Friday after a sharp decline the previous day. They are on track to finish the week higher on concerns about the U.S. budget deficit and new trade tariffs. Spot gold rose 0.3% to $3,337.50 an ounce, while gold futures for August rose 0.1% to $3,347.52 an ounce. On Thursday, gold…
Jeera prices fell by 0.1% to 19,965 following weak domestic and export demand during the peak retail season. The decline was largely due to subdued buying from overseas markets and inactivity from foreign buyers. Adequate existing stock levels and comfortable supply also weighed on prices. Farmers hold around 20 lakh bags of cumin, but only…
Crude oil prices fell more than 1% to $66.54 on Friday after a report said the US and Iran could resume nuclear talks in Oslo next week. This comes after the US carried out military strikes on Iran’s nuclear sites last month. If the talks lead to an agreement, sanctions on Iranian oil could be…
India’s coffee exports increased 19% YoY to $616 million in Q1FY25, despite an 18% drop in export volumes due to higher global prices. The unit value per tonne rose 49% to ₹5.07 lakh, driven by supply disruptions in Brazil and Vietnam. Despite lower volumes, shipments rose 26% in value to $1,166 million in Q1FY25. Italy…
Yesterday, silver prices rose 0.75% to close at $107,518. This came as the US dollar weakened on ongoing concerns about trade and government spending. The US Federal Reserve chairman said that if it were not for the price hike caused by the president’s taxes, more interest rate cuts would have already taken place. Job cuts…
Aluminium futures closed slightly higher at 248.95 due to supply risks in the raw material market and optimism about stable manufacturing demand. Guinea’s fragile situation, where disagreements between the Guinean government and Emirates Global Aluminium threaten to disrupt mining licenses, has limited exports and caused China’s bauxite imports to fall 21%. Total inventories across LME…
Gold prices rose 1.22% to ₹97,251 on concerns over US trade deals and government spending. The US dollar weakened as investors worried about the government’s big spending and tax cut plans, which could lead to more borrowing. This made investors move their money into safe-haven assets like gold. Many expect the Federal Reserve to cut…
Jeera futures settled at 20,115, boosted by export inquiries and easing geopolitical tensions. Indian farmers hold around 20 lakh bags of cumin, with only 3-4 lakh expected to be traded by season-end. India’s cumin production is estimated at 90-92 lakh bags, lower than last year’s 1.10 crore bags. Production in Gujarat and Rajasthan is pegged…
The Soybean Processors Association of India (SOPA) expects a 5% decline in soybean sowings this kharif season due to low soybean prices for the past two years. Many farmers are switching to crops like cotton, arhar and maize, which can yield better returns. Although the monsoon rains were on time, some farmers in Madhya Pradesh…
Oil prices fell in Asian markets on Monday as concerns about Middle East supply problems began to fade. The main reason for the decline was an expected increase in OPEC+ oil production. Traders had previously reduced the “risk premium” they had added due to tensions between Iran and Israel. Now that those tensions have eased…
