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…
The NCDEX turmeric futures market should not be traded in, according to a letter sent by the Marathwada Vidarbha Turmeric Trade Association to Union Minister of State for Finance Pankaj Choudhary. The group said that certain traders and businesses are profitable. It said that the farmers of Maharashtra are suffering significant losses because the prices…
The government should aim to increase domestic edible oil production to meet the roughly 0.7 million tonnes (MT) incremental increase in demand each year in order to reduce rising edible oil imports, which are threatening to put pressure on the current account, said Atul Chaturvedi, President of the Solvent Extractors’ Association of India (SEA), on…
Oil prices continued to decline on Thursday after the U.S. Federal Reserve adopted a more pessimistic stance than anticipated, heightening concerns that rising interest rates and inflation may have an adverse effect on crude demand in the months to come. Following the Fed’s anticipated 75 basis point interest rate increase on Wednesday, crude prices fell…
The Indian Sugar Mills Association (ISMA) has urged the government to swiftly implement the sugar export strategy, claiming that the sugar selling season of 2022–2023 will require at least eight million tonnes of exports. Vivek Pittie, Director of Harinagar Mills in Mumbai and a member of ISMA, stated that the industry group thinks the government…
