Due to reduced production prospects and a delayed monsoon projection, turmeric yesterday settled up 2.9% at 8022. In anticipation of a price decline, traders are however also displaying less interest in the current price levels and refraining from bulk purchasing. Given that farmers are receiving a fair price for their produce, supplies in Maharashtra and…
On Wednesday, the gold price barely changed as the markets braced themselves for a Federal Reserve meeting, while copper prices continued their recovery from six-month lows. The dollar suffered this week due to disappointing U.S. economic statistics, which led to speculation that the Fed wouldn’t have enough room to continue rising interest rates. This led…
On Wednesday, oil prices plummeted in Asian trading as disappointing Chinese trade data fueled new worries about weakening demand in the nation. Prices have now completely reversed all gains from earlier this week due to OPEC production cutbacks. In May, China’s trade surplus hit a 13-month low, primarily due to a surprising decline in exports…
Tuesday saw a little decline in oil prices as traders gave up the majority of the gains made the previous session in the wake of Saudi Arabia’s declaration that it will further reduce the output, of the world’s largest exporter. At $76.48 a barrel, Brent crude futures were down 23 cents, or 0.3%. American West…
Gold yesterday increased by 0.06% to settle at 60234 as Treasury yields and the U.S. currency declined. Days before the largest economy in the world is scheduled to begin defaulting on its debt, improved risk sentiment impacted bullion as the plan to raise the debt limit and curb government spending in the U.S. was passed…
The price of Jeera yesterday decreased by -0.29% to 44400 as a result of profit taking due to the seasonal rise in supply. Market morale is also being kept down by the rising imports of jeera at a lower price. Due to the expected increase in the seasonal supply of jeera in Gujarat and Rajasthan,…
Oil prices fell in early trade on Thursday for the third straight day as a result of data showing an unexpectedly big gain in U.S. oil storage last week. This data, together with indications of weaker Chinese demand, raised concerns about an oversupply. The price of Brent crude futures for August delivery dropped by 40…
As investors await the votes on the debt deal, gold yesterday closed up by 0.33% at 60198 as the yield on the US 10-year Treasury note dropped to just 3.7%, significantly below the 3.85% seen last week. After passing a significant procedural obstacle, the debt-limit agreement reached by US President Joe Biden and Speaker Kevin…
Yesterday, crude oil fell by -4.64% to trade at 5756 as worries about the U.S. debt ceiling agreement dampened the market’s risk-on mood and conflicting signals from key producers muddied the supply outlook ahead of their meeting this weekend. Last week, Saudi Arabia’s Energy Minister Abdulaziz bin Salman cautioned short-sellers who were wagering that oil…
The Bt cotton seed market is experiencing a shortage of branded hybrids, particularly in the central and south zones, amid expectations that the cotton acreage in the forthcoming Kharif season would surpass last year’s coverage, according to vendors. Last year’s seed production was hampered by an abundance of rain, which affected the market. This year’s…
