The government faces the tough task of deciding on domestic gas prices as the date for the biannual exercise for fixing the prices approaches on September 30. According to sources, prices would likely increase by $9 to $10 per million British thermal units if the government implemented the administered price mechanism (APM) (MBtu). The price…
Oil prices retreated slightly on Thursday after gaining more than $3 in the prior session, with a strong dollar capping oil demand from buyers using other currencies and concerns over the faltering economic outlook clouding market sentiment. Brent oil prices were down 41 cents, or 0.5%, to $88.91 per barrel, while U.S. futures were down…
Gold and silver rate were trading weak on Wednesday, on the back of the strong U.S. Dollar. Gold October futures were down Rs 99, or 0.2%, to Rs 49,220 per 10 grams on the Multi Commodity Exchange. Silver December futures were trading at Rs 54,798 a kg, down Rs 581 or 1.05 percent. According to…
Turmeric prices have dropped by ₹500 a quintal over the last couple of weeks on an “unexpected” slump in domestic and export demand, traders have said. “ RKV Ravishankar, President of the Erode Turmeric Merchants Association in Tamil Nadu, said, “We typically see demand before the Navratri, but it has been lacking this time.” Even…
Gold prices rise slightly from two-year lows on Tuesday as a rally in the dollar paused, while a recovery in copper was cut short by data showing more weakness in Chinese industrial activity. Gold futures were unchanged at $1,637.25 per ounce, while spot gold increased 0.5% to $1,629.96. Due to what looked to be a…
Farmers in Punjab, Haryana, and western Uttar Pradesh sowed three new basmati rice varieties for the first time this Kharif season. These varieties have demonstrated potential since they are resistant to bacterial blight and blast diseases and require less pesticide application. According to a preliminary analysis by the Indian Agricultural Research Institute (IARI), Pusa, Delhi,…
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…
Prices of natural gas are likely to rise to record levels at the rate review scheduled this week. On October 1, 2022, The central Government-mandated price for domestic natural gas will be altered. After accounting for the recent spike in energy costs, the price paid for gas generated from old fields, such as those held…
The Reserve Bank of India’s (RBI) mission will be made more difficult by the falling rupee, which is the result of high wholesale prices and retail inflation. This could lead the MPC, which meets next week, to consider another aggressive rate hike of at least 50 basis points. At the same time, fears of elevated…
Comex gold was trading at close to two-year lows at about $1,670 per ounce, continuing to be pressured by a strong dollar and rising Treasury yields that reflected forecasts for tighter monetary policy and weakening global growth. According to ECB board member Isabel Schnabel, increased inflationary pressures in the eurozone are likely to be more…
