Gold yesterday decreased -0.18% to 59353 as the dollar index stayed close to two-month highs above 104, helped by rising predictions that US interest rates may stay high for longer than originally predicted. Market expectations were higher than the most recent PCE inflation data, which raised the possibility that the Federal Reserve would retain its…
As Punjabi farmers are expected to reduce the acreage during the kharif planting season, the area under cotton in North India is unlikely to increase from levels seen last year. Farmers in Rajasthan and Haryana, however, are likely to plant more land in the natural fiber crop as a result of early April’s unexpected rains….
Cotton prices yesterday decreased by -0.59% to 57500 as farmers who had been hanging onto their crop in anticipation of a return to record-high prices from the previous year have begun to sell their harvest. From the historical average of 20,000 bales per day in May, the daily arrival of cotton in the markets has…
Due to improved planting conditions in UP and Bihar and sluggish export demand, menthol oil yesterday declined by 0.6% to settle at 961.6. Efforts to plant have benefited from the recent rainy season in Uttar Pradesh and Bihar. Mentha’s seeding activities would benefit from the predicted higher-than-average May rains. The price will be under pressure…
Due to strong export demand and predictions of fewer supplies at the end of the current marketing year, jeera yesterday finished up 1.35% at 44695. Prices increased as concerns about the harvest grew owing to hailstorms and unseasonal rains in Rajasthan, the state that produces the majority of the food. Demand from domestic and international…
The price of natural gas yesterday increased by 1.83% to 211.6 due to projections for colder this week and warmer next week, which should increase demand more than initially anticipated through early June. Low levels of wind energy in recent weeks have pushed power companies to burn more gas to make electricity, which has helped…
Oil prices increased on Wednesday as U.S. oil and fuel supplies tightened and as the possibility of additional OPEC+ output restrictions was raised by a warning to speculators from the Saudi energy minister. Brent crude futures were up 86 cents, or 1.1%, to $77.70 per barrel, while WTI was up 88 cents, or 1.2%, to…
Due to growers starting to deliver the goods they had been holding back for a few months to the agricultural produce marketing committee (APMC) yards, cotton prices have dropped by over 9% in the last two weeks. “Farmers in a number of States have altered their minds and are eager to sell their stockpiled kapas…
On profit-taking yesterday, the price of turmeric dropped by -3.58% to 7928 in anticipation of an increase in local supplies. In anticipation of a drop in pricing, traders are likewise expressing less interest at current price levels and refraining from mass purchasing. Given that farmers are receiving a fair price for their produce, supplies in…
Yesterday, the dollar increased as risk aversion reigned as a result of mounting concerns about the health of regional U.S. banks and worry about the likelihood of an unprecedented U.S. default, which caused silver to settle down by 0.8% at 72733. At his most recent meeting in June, Jerome Powell, the chairman of the U.S….
