After the U.S. Federal Reserve tempered its aggressive approach to controlling inflation in a highly anticipated policy statement and signaled that interest rate hikes will soon come to a halt, silver yesterday closed up 1.3% at 70212. However, once U.S. Treasury Secretary Yellen denied that the government had considered protecting all accounts in the U.S….
The price of copper yesterday increased by 1.52% to settle at 783.45 as China’s demand has been strengthening as a result of a seasonal demand uptick and the post-pandemic economic rebound. Concerns over the availability of copper on the LME market have returned as canceled warrants or metal slated for delivery, now account for 45%…
The unseasonal rainfall has harmed the crops, therefore prices of basic necessities like wheat, jeera, chana, and various fruits and vegetables are anticipated to rise. Unseasonal rains are predicted to raise the costs of goods that are in limited supply and lower the returns for farmers in the case of perishable goods and areas where…
After three sessions of gains, oil prices declined on Thursday when U.S. Federal Reserve Chair Jerome Powell reiterated his commitment to containing inflation, including the likelihood of additional interest rate increases. U.S. West Texas Intermediate crude (WTI) dropped 84 cents, or 1.2%, to $70.06 while Brent crude futures dropped 80 cents, or 1%, to $75.89…
Current gold prices, future gold prices, and gold price forecasts: Despite encouraging global signals for the metal, the gold rate is slightly down on Wednesday, while the silver rate is up 0.25%. Gold April futures were trading at Rs 58,540 per 10 kilos on Multi Commodities Exchange, down Rs 39 or 0.07%. Silver May futures…
The windfall tax on domestically produced crude oil has been decreased, while the tax on diesel has been increased by the Finance Ministry. The revised levy became effective on Tuesday. A notification states that the windfall levy, formally known as Special Additional Excise Tax (SAED), has been reduced from $4,400 per tonne to $3,500 per…
The Solvent Extractors’ Association (SEA) of India predicts that the production of the rapeseedmustard crop will be around 115.25 lakh tonnes (lt) in 2022-23. In 2021–2022, SEA anticipated that the crop would be 110 lt. On announcing the all-India estimate for the rapeseed-mustard crop in 2022–2023, SEA stated that India is on track to produce…
The agricultural produce marketing committee (APMC) yards in the growing regions in India have seen cotton arrivals start to rise to a three-year high in March. This is due to the fact that, according to traders and industry leaders, the price of natural fiber has stabilized between 60,000 and 62,000 per candy (356 kg) and…
Oil prices increased on Monday following their greatest weekly loss in months as UBS agreed to acquire Credit Suisse and some of the biggest central banks in the world worked to reassure and stabilize the world’s financial markets. Following a week in which it lost about 12% of its value, the price of Brent oil…
Despite the metal’s bearish worldwide indications, the local gold rate is marginally in the green on Monday, while the domestic silver rate is down 0.24%. Gold April futures were up Rs 23 or 0.04% on the Multi Commodities Exchange, trading at Rs 59,406 per 10 kilos. At Rs 68,336 per kg on the MCX, silver…
